Sumeet Industries to switch to gas-based captive power plant

Mumbai, Dec 11 (UNI) Sumeet Industries Ltd today announced that the company has decided to switch from the existing coal-based power plant to gas-based power plant, with the availability of gas at the its factory.

Informing the Bombay Stock Exchange (BSE) here, the company said after raw material, power and fuel are the second highest contributors to its product cost.

As gas is much cleaner and environment-friendly fuel than coal, the company can also earn carbon credit by this switch over.

As potential in power sector is very good, the company is also considering to expand its business in the sector by generation and supply of power.

The company has already finalised the equipment and new power plant will be operational in the first quarter of the next financial year, the release added.

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