Birla Corporation and RCCPL, a wholly owned subsidiary of the Company have acquired 26% ownership (i.e. 7.80% by the Company and 18.20% by RCCPL) comprising of paid-up share capital of Rs 10 each and Compulsorily Convertible Debentures of Rs 1,000 each of AMPSolar Clean Power.
With the view towards optimizing the energy costs, the Company proposes to purchase solar power for its Raebareli Cement Grinding Units (Raebareli Cement Works & Raebareli Hitech Cement) and Kundanganj Cement Grinding Unit (a unit of RCCPL (formerly Reliance Cement Company), wholly owned subsidiary of the Company), under the Group Captive Scheme which stipulates at least 26% participation in the equity capital of the Solar Power Company.
Birla Corporation operates in four divisions namely cement, jute, vinoleum and auto trim division.
