Premier Green Breaks Ground on New Odisha Plant

Premier Green Innovations, a joint venture of Almondz Global Securities, has officially begun construction on a new manufacturing facility in Odisha's Sambalpur district. This plant, with a projected capacity of 200 KLPD, will bolster the company's production capabilities, complementing its existing 285 KLPD capacity at Sansarpur in Himachal Pradesh. The total investment for this ambitious project is estimated at Rs 280 crore.

The funding for this new venture comes from a combination of financial sources, including a term loan of Rs 210 crore and promoter equity of Rs 70 crore. The construction marks a significant milestone for the company, following the recent financial closure arranged by the bank.

Almondz Global Securities, which holds a 43.88 percent stake in Premier Green Innovations through its wholly-owned subsidiary, continues to expand its footprint in the industry with this strategic investment. The new facility is set to enhance production efficiency and meet growing market demands, reflecting the company's commitment to innovation and growth in the sector.

News by Rahul Yelligetti