Business Update17 Mar 2024, 12:57 am
Alphalogic Techsys Ltd Executes Term Loan Agreement with IREDA for Rs. 136 Crores Ethanol Plant Project
AI Summary
Alphalogic Techsys Ltd has announced the execution of a term loan agreement with the Indian Renewable Energy Development Agency (IREDA) for a loan of Rs. 136 crores towards setting up a 150 KLPD Ethanol Distillery Project with a 3.3 MW Captive Power Generation Plant in Maharashtra. The facility agreement was signed on 15th March, 2024, and the disclosure pursuant to SEBI Listing Regulations is enclosed as 'Annexure A'. Key terms of the agreement include IREDA's right to appoint a nominee director and the loan being a rupee term loan.
Key Highlights
- Term loan agreement executed for Rs. 136 crores Ethanol Project
- IREDA to appoint nominee director
- Loan previously sanctioned on 28th December, 2023
- Project includes 150 KLPD Ethanol Distillery and a 3.3 MW Captive Power Generation Plant
- Facility Agreement executed on 15th March, 2024