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Gammon Infrastructure Projects Ltd. – Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015 Regarding Pravara Renewable Energy Limited, A Wholly-Owned Unlisted Subsidiary Of The Company

Gammon Infrastructure Projects Ltd. – Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015 Regarding Pravara Renewable Energy Limited, A Wholly-Owned Unlisted Subsidiary Of The Company

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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, Pravara Renewable Energy Limited (PREL), a wholly-owned unlisted subsidiary of the Company has signed on 30th October 2018 an operational arrangement by way of supplementary agreement with Dr. Padmashri Vitthalrao Vikhe Patil Sahakari Sakhar Karkhana Limited (Karkhana) for one year period with an option to extend it by mutual consent.

This said arrangement is expected to be a win-win option for the Company (PREL) and Karkhana to realise optimal operational efficiencies.

The Karkhana has agreed to ensure a minimum guaranteed payment of Rs. 48 Crores under the above arrangement, net of all operation & maintenance expenses. The operations of the Plant has commenced in full flow from today for the current crushing season under this new arrangement.

Pdf Link: Gammon Infrastructure Projects Ltd. – Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015 Regarding Pravara Renewable Energy Limited, A Wholly-Owned Unlisted Subsidiary Of The Company

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Source : thehindubusinessline
Anand Gupta Editor - EQ Int'l Media Network

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