Outcome of Board Meeting

| Updated on January 18, 2016 Published on January 18, 2016

Sumeet Industries Ltd has informed BSE that in the meeting of the Board of Directors of the Company held on January 18, 2016, the following business has been taken on place:

- The Board of Directors of the Company discussed and evaluated the proposal of setting up F.O. (Furnace Oil) based Genset Captive Power Plant and decided to set up 5 MW Power Plant which is an alternate source of generating cheap power at present. Furnace oil is the by-product of the Crude which is prevailing at seven year low price.

This power project may reduce the power cost of the Company substantially and will save around Rs. 7.50 Crores in a year.

Source : BSE - >www.bseindia.com

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Published on January 18, 2016
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