LT Foods to set up 5MW biomass-based power plant for Rs 100-cr

The company plans to start a 5 MW biomass-based captive power generation plant at Hoshiarpur district in Punjab, a press release issued here stated.

"In the wake of increasing demand in the power sector, we have decided to venture into renewable energy thereby helping in reduction of carbon foot prints. By producing our own power we will not only become self-sufficient in meeting our power demands but we will also see this reflect in healthier bottom-lines for LT Foods' in the coming years," the company's Chairman and Managing Director Vijay Kumar Arora said.

The company would be raising Rs 100-crore of which 70 per cent would be the debt component while 30 per cent would be in the form of equity, he said. "The power will be used for captive and commercial purpose. We expect the plant to be operational by September 2011," Arora said.

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