Supreme Petrochem resumes production at Chennai plant

Supreme Petrochem Ltd has informed the stock exchanges that it has commenced production at its Chennai plant, which was disrupted due to floods caused by cyclone Michaung .

The company’s stock traded at ₹554.80 on the BSE as of 2:21 pm on Wednesday, down by 0.84 per cent.

Supreme Petrochem earlier signed a Power Delivery Agreement (PDA) for 12.5 MW with TP Saturn Ltd, a special purpose vehicle (SPV) formed by Tata Power Renewable Energy Ltd. (TPREL), to obtain green/ solar energy for the company’s plant at Amdoshi in Raigad, Maharashtra. It had announced purchasing 26 per cent equity stake in TP Saturn Ltd from TPREL for an investment of ₹5.36 crore. 

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