In a conscious move towards reducing dependence on non-renewable energy and cost saving measures, Anupam Rasayan Limited, the custom synthesis and specialty chemicals major, has issued Letter of Intent (LoI) to install solar power by investing Rs. 43 crores for the project.

The entire capital expenditure of Rs. 43 crores will be funded from the company's recently concluded IPO proceeds. The size of the plant will be 12.50 MW and will cater to the energy requirements of Anupam Rasayan's major units. The company operates six manufacturing facilities in Gujarat.

Speaking about the planned investment in renewable energy, Anand Desai, MD, Anupam Rasayan said, "Environmental sustainability is high in our priority and we will constantly look into opportunities in this space. It is important for industry players like us to be price sensitive as well as minimize carbon footprints. The proposed solar plant will help rationalize our energy costs through an estimated saving of around Rs. 10 crore per annul for the next 25 years. This is a significant step in terms of ensuring undetterd power supply and transitioning towards cleaner sources of energy."

Anupam Rasayan India Limited is one of the leading companies engaged in the custom synthesis and manufacturing of specialty chemicals in India. The companies business verticals are: life science related specialty chemicals comprising products related to agrochemicals, personal care and pharmaceuticals, and other specialty chemicals, comprising specialty pigment and dyes, and polymer additives.