News Brief | November 2012
HEPL to invest Rs 2 bn on solar project
In next three-four years, Hiramrut Energies (HEPL) plans to invest Rs 200 crore on its second solar water heater manufacturing unit at Vasla village of Ahmedabad district. According to the company officials, the new unit of water heater manufacturing may be ready by the forthcoming Diwali. The new plant's production capacity is about 15 million litre per annum, which is five times higher than the company's first solar water heater plant at Gondal. The company would initially invest around Rs 35 crore in the unit. The company is said to have signed a memorandum of understanding (MoU) with the Gujarat government for an investment of around Rs 250 crore, said Bhavesh Dholaria, managing director of Hiramrut Energies.