PSL receives in-principle approval for SEZ

PSL Ltd has announced that in response of the Company's application to the Central Government, an in-principle approval has been granted for the establishment of a Special Economic Zone (SEZ) for "Alternative Energy and Energy Ancillaries" at the Port of Pipavav, Gujarat - a privately owned leading Port well connected by both road and rail. The said SEZ shall be primarily comprising of environmental friendly Units of alternate energy products and services such as biodiesel, solar, ethanol, wind generation etc.

The Company will now be looking for attracting diversified firms in the Alternative Energy Sector to set up their Units in Pipavav so as to take direct advantage of the economic benefits of setting up a facility in SEZ as well as enjoy the advantages of close proximity to leading centers of growth at both national and international level.

The stock closed the day at Rs.240.05, up by Rs.1.75 or 0.73%. The total traded quantity was 3025 compared to 2 week average of 4718. The stock hit an intraday high of Rs.241.50 and low of Rs.235.

Source : Equity Bulls

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