Supreme Petrochem Ltd has informed the stock exchanges that it has commenced production at its Chennai plant, which was disrupted due to floods caused by cyclone Michaung .
The company’s stock traded at ₹554.80 on the BSE as of 2:21 pm on Wednesday, down by 0.84 per cent.
Supreme Petrochem earlier signed a Power Delivery Agreement (PDA) for 12.5 MW with TP Saturn Ltd, a special purpose vehicle (SPV) formed by Tata Power Renewable Energy Ltd. (TPREL), to obtain green/ solar energy for the company’s plant at Amdoshi in Raigad, Maharashtra. It had announced purchasing 26 per cent equity stake in TP Saturn Ltd from TPREL for an investment of ₹5.36 crore.