Maamba Collieries Ltd secures membership of Southern African Power Pool

NAVA Ltd has announced that Maamba Collieries Limited (MCL), Zambian stepdown subsidiary, has secured Membership of Southern African Power Pool (SAPP).

Membership of SAPP affords MCL with significant flexibility to sell surplus power on SAPP over and above capacity contracted by ZESCO. SAPP has a time tested and robust payment mechanism amongst its member countries, demonstrated over several years.

MCL has already been receiving full payments for its power dispatches from May 2022 to ZESCO and SAPP. Membership of SAPP will ensure steady cash flows, additionally aiding MCL to seize opportunistic gains in a power deficit southern African region.

Shares of Nava Bharat Ventures Limited was last trading in BSE at Rs. 190.85 as compared to the previous close of Rs. 201.30. The total number of shares traded during the day was 194878 in over 4165 trades.

The stock hit an intraday high of Rs. 207.05 and intraday low of 189.10. The net turnover during the day was Rs. 38360050.00.

Source : Equity Bulls

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Nava INE725A01022 MaambaCollieries Membership SouthAfricanPowerPool