Sanwaria Agro Oils to invest Rs 40 cr
Edible oil company, Sanwaria Agro Oils Ltd will be investing Rs 40 crore to establish a wind power plant in Madhya Pradesh.
By PTI |
MUMBAI: Edible oil company, Sanwaria Agro Oils Ltd will be investing Rs 40 crore to establish a wind power plant in Madhya Pradesh.
The investment will be made in two phases - Rs 15 crore in the first phase and Rs 25 crore in the second, a company release said here on Tuesday.
The proposed wind power plant, spread across 25 acres, will have a "pitch regulated" technology capable of generating 3 MW in the first phase which is expected to get completed in next month.
The power generated in Phase I will be for captive use, while that in the second phase will be sold.
"Through this wind power there will be annual savings of Rs 1.5 crore in addition to substantial income tax benefits," Company Director Anil Agrawal said.
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