Anupam Rasayan Ltd, a domestic company engaged in custom synthesis and manufacturing (CSM) of speciality chemicals, announced this morning that it is going to set up a solar power plant worth Rs 43 crore.
This conscious decision is taken towards reducing dependency on non-renewable energy and a cost-saving measure. The capital expenditure of Rs 43 crore will be funded from the company’s recently concluded IPO proceeds. The size of the proposed solar plant will be 12.50 MW. The plant will cater to the energy requirements of the company’s major units. At present, the company has six manufacturing facilities in the state of Gujarat.
Anand Desai, Managing Director of Anupam Rasayan Ltd says, “Environment sustainability is high on our priority list, and we will constantly look into opportunities in this space. It is important for industry players like us to be price-sensitive as well as minimise carbon footprint. The proposed solar plant will help us rationalise our energy costs through an estimated saving of around Rs 10 crore per annum for the next 25 years. This is a significant step in terms of ensuring undeterred power supply and transitioning towards cleaner source of energy.”
At 11 am, the share price of Anupam Rasayan Ltd was trading at Rs 639, an increase of 1.67 per cent over the previous day’s close of Rs 628.50 on BSE.