PRISM CEMENT LTD. - Updates

Prism Cement Ltd has informed BSE that the Company has agreed to acquire 15.23% (post acquisition) equity stake for approximately Rs. 21 Crores in BLA Power Private Limited ('BLA Power'), which is in the sole business of generating thermal power.<BR><BR>The Company shall enter into a Power Supply Agreement ('PSA') with BLA Power for the purchase and consumption of 25 MW of RTC (Round The Clock) power from BLA Power for its cement plants - Unit I and Unit II at Satna, Madhya Pradesh under the Group Captive Arrangement under the Electricity Rules, 2005.<BR><BR>This agreement is expected to reduce the cost of cement production.