Prism Cement Ltd has announced that it has agreed to acquire 15.23% (post acquisition) equity stake for approximately Rs. 21 Crores in BLA Power Private Limited, which is in the sole business of generating thermal power.
Prism Cement shall enter into a Power Supply Agreement ('PSA') with BLA Power for the purchase and consumption of 25 MW of RTC (Round The Clock) power from BLA Power for its cement plants - Unit I and Unit II at Satna, Madhya Pradesh under the Group Captive Arrangement under the Electricity Rules, 2005.
This agreement is expected to reduce the cost of cement production.
Prism Cement Limited is one of India’s leading integrated Building Materials Company, with a wide range of products from cement, ready-mixed concrete, tiles, bath products to kitchens. It manufactures Portland Pozzolana Cement (PPC) with the brand name 'Champion' and premium quality grade of cement under ‘HI-TECH’ and ‘DURATECH’ brand. Prism and caters mainly to markets of Eastern UP, MP and Bihar, with an average lead distance of 399 kms for cement from its plant at Satna, MP. It has a wide marketing network with about 3,800 dealers serviced from ~90 stocking points.
