For Rs 21 crore
Prism Cement announced that the Company has acquired 15.23% equity stake for Rupees 21 crore in BLA Power ('BLA Power'), which is in the sole business of generating thermal power.The Company has entered into a Power Supply Agreement ('PSA') and other related agreements/documents 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.
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