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Rain Industries Ltd on Friday said the company's arm Rain Cements is planning to set up a waste heat recovery based power plant in Kurnool, Andhra Pradesh, with an estimated investment of ₹70 crore, the company said in an exchange filing. Rain Industries is into manufacturing of carbon products, calcining coke and cement. The company is planning to generate 7 MW of power through the proposed plant. The project will be financed by a combination of internal accruals and debt and is expected to complete in about 14 months. Rain Industries shares ended at ₹37 on the NSE, up 1.37 per cent on the NSE.
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