Joint Venture20 Apr 2024, 11:14 pm
Prudential Sugar Corporation Limited Enteres MoU with The Failte Ventures Group Limited for Solar Panel Manufacturing Joint Venture
AI Summary
Prudential Sugar Corporation Limited (PSCL) has entered into a Memorandum of Understanding (MoU) with The Failte Ventures Group Limited, Ireland to form a joint venture company for setting up a Solar Panel Manufacturing facility in India. The facility will have a capacity of SOOMW per annum, subject to regulatory and statutory approvals.
Key Highlights
- Prudential Sugar Corporation Limited and The Failte Ventures Group Limited entered into an MoU for a solar panel manufacturing joint venture.
- The JV aims to set up a solar plant in India with an annual capacity of SOOMW.
- The agreement is subject to necessary regulatory and statutory approvals.
- Equity shareholding will be in the proportion of 50:50 for both parties.
- Both parties will appoint two representatives each on the Board of the new company.