Received land allotment for solar cell manufacturing project in Chhattisgarh
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
RDB Infrastructure & Power, in consortium with Samvik Power Pvt Ltd, received a Notice of Award from Nava Raipur Atal Nagar Vikas Pradhikaran (a state government authority) for allotment of ~36.46 acres of industrial land at Nava Raipur, Raipur, Chhattisgarh, to set up a Solar Cell Manufacturing/Processing project. The total land premium is Rs. 36.90 crores at Rs. 2,501 per sq. mt. The land will be on a 90-year leasehold basis, with the lease agreement to be executed within 90 days.
Marks RDB's entry into solar cell manufacturing. Land cost of ~Rs. 36.9 cr signals a new business vertical; long-term growth potential, but execution and capex risks remain.