Acquisitions13 Aug 2026, 01:03 pm
Mahamaya Steel Acquires 350 Acres in Chhattisgarh for Solar Plant
AI Summary
Mahamaya Steel Industries Ltd has approved the acquisition of approximately 350 acres of land in Janjgir-Champa, Chhattisgarh, for ₹70 Crores. This land will be used to set up a solar power plant for captive consumption, supporting the company's renewable energy initiatives. The project aims to reduce power costs for its steel manufacturing operations and is expected to be completed by July 2027. This strategic move aligns with the company's focus on sustainability and operational efficiency.
Key Highlights
- Acquired 350 acres in Chhattisgarh for ₹70 Crores.
- Land to be used for a captive solar power plant.
- Aims to reduce power costs for steel manufacturing.
- Part of the company's renewable energy initiative.
- Project completion expected by July 2027.
Price Impact
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