Lakshmi Overseas Industries inks PPA with PSPCL

Lakshmi Overseas Industries has signed a Power Purchase Agreement (PPA) on April 17, 2012 with Punjab State Power Corporation (PSPCL) for sale of power up to 28 MW. This PPA is on short term basis up to March 3, 2013.

The company has started sale of power to PSPCL from April 21, 2012 onwards. The company will sign IA with Punjab Energy Development Agency (PEDA). Thereafter, on the basis of IA, PSPCL will sign the long term PPA.

Lakshmi Overseas Industries is one of the largest foodgrain processing companies in India and in the world. The company produces range of basmati rice such as elongated basmati rice, par boiled basmati rice and long grain aromatic basmati rice.