The project would be commissioned by June 2020.
Shares of Prism Johnson added 3.7 percent intraday Wednesday after company issued LoI to set up power generation system.
The company issued a LoI (Letter of latent) for EPC (engineering, procurement and construction) contract for setting up a waste heat recovery based power generation system of peak capacity 22.50 MW to be located at its cement manufacturing facility near village Mankahati, District Satna, Madhya Pradesh, company said in release.
This power generating system would require a capital investment of approximately Rs 200 crore.
The project would be commissioned by June 2020.
The payback period of this investment would be less than three years, it added.
At 10:45 hrs Prism Johnson was quoting at Rs 70.40, up Rs 2.20, or 3.23 percent on the BSE.
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