India Cements has entered into Power Purchase Agreements and Share Subscription and Shareholders Agreement to acquire 26% equity shares of Amplus TN One Energy, a company engaged in generation and transmission of renewable energy. The acquisition is for the purposes of meeting the company’s green energy needs, optimising energy cost and comply with regulatory requirements for captive power consumption under electricity laws. The cost of acquisition is Rs 14.06 crore. The acquisition is expected to be completed within 180 days from the execution of Power Purchase Agreements and Share Subscription and Shareholders Agreement.
The India Cements is engaged in the manufacture of products that will enable the customer to build structures which are durable, cost effective and conducive for human life style.
