Madhucon Projects enters into power sector

Madhucon Projects Ltd has announced that the Company has entered into in Power Sector with 48% Equity participation in Simhapuri Energy Pvt Ltd a Special Purpose Vehicle promoted in partnership with Hyderabad based Malaxmi Group. The Power Project shall be developed for 540 MW capacity in two phases each of 270 MW based primarily on imported coal.

The Company has also entered in coal mining in Indonesia and Incorporated a wholly owned Indonesian Company PT Madhucon Indonesia under the laws of the Republic of Indonesia for Development Coal Mining.

Source : Equity Bulls

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