Sumeet Industries to switch captive power plant to Gas based

Sumeet Industries Ltd has announced that Gas is available at the Company's factory location so company decided to switch over from existing coal based Power Plant to Gas based Power Plant.

As Power & fuel contribute 2nd highest cost in our product after raw material so this switch over save the Company's power cost by around 30%.

As Gas is much cleaner and environment friendly fuel than coal so the Company also earns carbon credit by this switch over.

As potent ional in power sector is very good, the Company is also considering to expand it's business in this sector by generation and supply of power.

The Company has already finalized the equipment and new power plant will be operational in 1st quarter of next financial year.

Source : Equity Bulls

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