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News Sagar Power receives approval to resume operations at Panyam cement plant

Sagar Power receives approval to resume operations at Panyam cement plant

Written by Global Cement staff 28 June 2021
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India: The Andhra Pradesh branch of the National Company Law Tribunal (NCLT) has approved Sagar Power’s resolution plan for the start of operations at the mothballed Panyam cement plant at Kurnool. Sagar Power intends to pay US$13.5m, together with RV Consulting Services, to settle the debts from the plant’s previous owners, according to the Times of India newspaper. The partners also plan to inject a further US$20.2m of fresh capital into the venture.

Last modified on 30 June 2021
Published in Global Cement News
Tagged under
  • India
  • Sagar Power
  • Plant
  • Debts
  • National Company Law Tribunal
  • Andhra Pradesh
  • RV Consulting Services
  • GCW512

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