July 8th 2023.
Prism Johnson Ltd. made an exciting announcement on Saturday. The Company has acquired a mining lease for limestone in Kalvatla & Kotapadu Villages, Andhra Pradesh and proposed to set-up a greenfield cement manufacturing plant.
The Board of Directors met on Saturday and approved the terms and conditions of the definitive agreements with The Ramco Cements Limited. According to the filings, the Company purchased various limestone bearing land parcels, which total up to 1420.72 acres. The Board also approved the transfer of a mining lease granted by the Government of Andhra Pradesh to TRCL over an extent of 663.46 Ha.
On Friday, at 3:30pm IST, the shares of Prism Johnson Ltd. were at ₹132.90, up by 0.30 percent. The Board also appointed Anil Kulkarni as Wholetime Director, designated as Executive Director & Chief Executive Officer.
This is a positive step forward for Prism Johnson Ltd. and is likely to reap great rewards in the near future. The Company is on its way to taking a major leap towards setting up a greenfield cement manufacturing plant. Its shares are also showing signs of growth, indicating that the company's decisions are paying off.
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