Dollex Industries signs Rs 105 Crore MOU with MP Govt for Agro-Energy Complex

Dollex Industries Ltd has announced that the Company has entered into a Memorandum of Understanding (MOU) with the Madhya Pradesh Government to establish an Integrated Agro-Energy Complex consisting of Ethanol, Power and Sugar with an estimated investment of Rs 105 crores. This will be the Company's 3 major undertaking in the past 12 months, after acquiring Godavari Manar Sugars & Kalamber SSK from the Government of Maharashtra (GoM).

The Government of Madhya Pradesh (GoMP) represented by Directorate of Farmer Welfare and Agriculture Development, will enable the Company, to implement the projects. GoMP's representative agency will also help the Company to obtain necessary permission / registrations from the concerned departments of the state and Central Government and would also provide incentives under various schemes announced by the State / Central Government wherever applicable.

The stock was trading at Rs.107.15, down by Rs.5.15 or 4.59%. The stock hit an intraday high of Rs.123.75 and low of Rs.107.10.

The total traded quantity was 45106 compared to 2 week average of 62418.

Source : Equity Bulls

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