Vikas Ecotech Limited (VEL) on Monday announced its foray into conventional energy segment after receiving a Rs 20-crore coal supply order from cement manufacturer Prism Johnson. The supplies for the latest order will start within the next 15 days and will be completed by October 31, 2023, the company said in a statement.
Vikas Ecotech Limited has received orders valued at Rs 20 crore for supplying coal to Prism Johnson Limited promoted by the Rajan Raheja Group, it said.
Vikas Ecotech Limited has been actively exploring business opportunities in the energy segment including conventional sources of energy being used in India, as well as the renewable and green energy segments.
The company is engaged in the business of specialty polymers for applications in sectors like electrical, infrastructure, packaging, and automotive, among others.
Besides, it is also expanding its business portfolio by manufacturing steel pipes and MDPE (medium-density polyethene) pipes.
“The company ventured into the conventional energy market with the supply of coal, which is being used as a major source of energy in India in order to make space for setting a firm foot in the energy business segment,” the statement said.
Vikas Ecotech is also exploring business opportunities in renewable energy materials and products including solar, gas, and the latest hydrogen fuel cells, it added.
