Prism Cement has agreed to acquire 15.23% equity stake for approximately Rs 21 crore in BLA Power, which is in the sole business of generating thermal power.
The company shall enter into a power supply agreement with BLA Power for the purchase and consumption of 25 MW of RTC (round the clock) power from BLA Power for its cement plants - Unit I and Unit II at Satna, Madhya Pradesh under the Group Captive Arrangement under the Electricity Rules, 2005. This agreement is expected to reduce the cost of cement production.
Prism Cement is one of India’s leading integrated Building Materials Company, with a wide range of products from cement, ready-mixed concrete, tiles, bath products to kitchens.
