Vikas Ecotech announces its entry into the conventional energy sector

8 Aug 2023 , 11:50 AM

After getting a Rs 20 crore coal supply order from cement producer Prism Johnson, Vikas Ecotech Limited (VEL) on Monday declared its entry into the conventional energy industry. According to a statement from the company, supplies for the most recent purchase will begin within the next 15 days and be finished by October 31, 2023.

According to Vikas Ecotech Limited, it has orders worth Rs 20 crore to sell coal to Prism Johnson Limited, a Rajan Raheja Group-backed company.

In addition to the conventional energy sources used in India, Vikas Ecotech Limited has been actively pursuing commercial prospects in the renewable and green energy sectors.

The company manufactures specialty polymers for use in a variety of industries, including electrical, infrastructural, packaging, and automotive.

Additionally, it is growing its line of business by producing steel and MDPE (medium-density polyethene) pipes.

In order to provide space for establishing a strong foot in the energy business area, the company ‘entered the conventional energy market with the supply of coal, which is used as a major source of energy in India,’ according to the statement.

Additionally, Vikas Ecotech is looking at the commercial potential in renewable energy-related components and goods, such as solar, gas, and the most recent hydrogen fuel cells.

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