Rhetan TMT Ltd Approves 2 MW Solar Power Plant & Explores Acquisition Opportunities

Rhetan TMT Ltd's Board of Directors has approved the establishment of a solar power plant with a capacity of up to 2 MW. The facility will occupy approximately 20,000 square meters and will be located in the village of Untarda, Taluka Bayad, District Aravalli. The company has already executed a Letter of Intent (LOI) to initiate the project and will submit an application to the Gujarat Energy Development Agency (GEDA) for necessary approvals. A Technical Feasibility Report (TFR) will be obtained to assess the project's viability, followed by a lease agreement execution for the designated property. The solar power plant is specifically designed for captive consumption at the TMT Bars factory in Kadi, Gujarat. Additionally, the Board has decided to explore strategic acquisitions in the steel industry to strengthen its position, by entering into initial non-commitment agreements with targeted companies for due diligence and potential synergy assessment.