Business Update15 Mar 2024, 10:26 pm
IPICOL Approves In Principle Premier Explosives' Defence Plant Proposal for Rs. 864 Crore
AI Summary
Premier Explosives Ltd. received a letter from IPICOL on March 15, 2024, announcing the approval of the State Level Single Window Clearance Authority on February 23, 2024, for the Company's proposal to set up a Defence Explosives, Raw Materials and Ammunition Plant in three phases at Rayagada District, Odisha, for approximately Rs. 864 Crore. The announcement adheres to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements, 2015.
Key Highlights
- IPICOL approves Premier Explosives' plant proposal
- Proposal worth Rs. 864 Crore
- Plant to be set up in three phases
- Location: Rayagada District, Odisha
- Approval subject to fulfillment of customary conditions