India’s Rudra Gas Enterprise progresses plan for new renewables unit
India-based natural gas distributor Rudra Gas Enterprise Ltd (BOM:544121) said that its board has approved the establishment of a renewables-focused subsidiary as part of a strategy to expand the company’s business horizon and become capable of sharing resources and expertise to improve performance.The new entity will be named Rudra Global Green Energy Private Limited. It will specialise in transmitting, distributing, selling, supplying various types of solar energy, renewable energy using nonconventional and renewable sources including but not limited to wind, heat, solar, hydro, wave, tidal, ocean, geothermal, biomass and hydrogen, a securities filing says.The incorporation of the new subsidiary envisages an investment of INR 51,000 (USD 596/EUR 572) for the acquisition of a 51% shareholding in the subsidiary, the filing says.Rudra Gas Enterprise is active in several business verticals, with a strong focus on gas distribution network projects, fibre cable network project and renting of construction machineries and vehicle.(INR 100 = USD 1.168/EUR 1.122)
India-based natural gas distributor Rudra Gas Enterprise Ltd (BOM:544121) said that its board has approved the establishment of a renewables-focused subsidiary as part of a strategy to expand the company’s business horizon and become capable of sharing resources and expertise to improve performance.
The new entity will be named Rudra Global Green Energy Private Limited. It will specialise in transmitting, distributing, selling, supplying various types of solar energy, renewable energy using nonconventional and renewable sources including but not limited to wind, heat, solar, hydro, wave, tidal, ocean, geothermal, biomass and hydrogen, a securities filing says.
The incorporation of the new subsidiary envisages an investment of INR 51,000 (USD 596/EUR 572) for the acquisition of a 51% shareholding in the subsidiary, the filing says.
Rudra Gas Enterprise is active in several business verticals, with a strong focus on gas distribution network projects, fibre cable network project and renting of construction machineries and vehicle.
(INR 100 = USD 1.168/EUR 1.122)
What's Your Reaction?
