Rama Paper Mills to raise Rs 200 Cr via QIP to set up 50 MW power plant
2010 March 9
Rama Paper Mills has informed that the company is setting up a power plant of 50 MW in different phases by investing Rs 200 crores. It has been decided to raise funds to implement the Power Project by way of preferential allotment to Qualified Institutional Buyer (QIB) and to other investors.
The company has already started placing order for the necessary equipments. The company is at present getting power from the power grid at Rs 6.50 per unit. Upon completion of this project, the company will be able to get power at around Rs 3 per unit for its captive consumption.
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