Asia
Pennar Industries to Invest Additional INR58 Million in Joint Venture Company
Precision engineering company Pennar Industries (NSE:PENIND, BOM:513228) has agreed to invest an additional 58 million Indian rupees in its joint venture company, ZAP91 Solar India, according to a Wednesday filing to the Indian stock exchanges.The investment is expected to be completed by June 30.ZAP91 Solar plans to use this funding to complete its module manufacturing plant, including commissioning and commencement of commercial production.Pennar holds a 45% stake in the joint venture company, which will focus on the manufacturing and sale of solar modules.
BOM:513228NSE:PENIND
