Gammon Infrastructure Projects’ wholly owned unlisted subsidiary -- Pravara Renewable Energy (PREL) has signed an operational arrangement by way of supplementary agreement with Dr. Padmashri Vitthalrao Vikhe Patil Sahakari Sakhar Karkhana (Karkhana) for one year period with an option to extend it by mutual consent. The company has signed an operational arrangement with an objective of improving the performance of the co-gen power plant and better arrangement of bagasse/fuel requirement for an extended duration of operation over next one year.
This said arrangement is expected to be a win-win option for the company and Karkhana to realise optimal operational efficiencies. The Karkhana has agreed to ensure a minimum guaranteed payment of Rs 48 crore under the above arrangement, net of all operation & maintenance expenses. The operations of the Plant has commenced in full flow from October 31, 2018 for the current crushing season under this new arrangement.
Gammon Infrastructure Projects is an infrastructure project development company incorporated by Gammon India, to participate in the development of infrastructure projects on a public private partnership (PPP) basis.
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