Sagar Cements has announced that it is to invest a further INR280m (US$4.35m) to complete the construction of a captive power plant and finance a new solar project, according to reports in the Hindu.
The extra money will go towards raising the capacity of the coal-fired captive power plant being built at the firm’s Mattampally plant from 15MW to 18MW.
In addition, Sagar is to install a 1MW solar power plant, to be commissioned by June 2017.
Sagar also announced that its BMM subsidiary – acquired in 2015 – would henceforth be known as Sagar Cements (R) Ltd.
