RDB Infrastructure share price hit the 5% upper circuit limit on Wednesday, April 8, following the company’s announcement that, in partnership with Samvik Power Private Limited, it has received a Notice of Award for an industrial plot allocation in Nava Raipur Atal Nagar for the purpose of solar cell manufacturing.
This project encompasses around 36.46 acres of land, with a total premium amounting to ₹36,89,77,192, which translates to ₹2,501 per square meter. The land will be provided on a 90-year leasehold arrangement, with the lease rent undergoing revision every 30 years, and the lease contract is required to be signed within 90 days from the date of the award.
The land allocation is designed to facilitate sustainable industrial growth, functioning within a national framework that specifies distinct timelines and responsibilities. It is available on a leasehold term of 90 years, with lease payments set to be adjusted every three decades.
The contract needs to be finalised within 90 days following the issuance of the Notice of Award. Furthermore, the land is exclusively allocated for the production and processing of solar cells, ensuring its utilization is consistent with the project’s industrial goals.
(more to come)