Paramount Communications to Launch New Manufacturing Unit.

Paramount Communications has announced a significant development in its expansion plans, revealing that it has received a Letter of Intent (LoI) from MP Industrial Development Corporation Ltd. The agreement grants the company a lease for 30 acres of land in Narmadapuram, Madhya Pradesh, designated for a manufacturing zone specializing in power and renewable energy equipment.

As detailed in the company’s exchange filing, the land will be leased for 99 years to establish an industrial unit for the production of DC and AC cables. However, the allotment is contingent upon Paramount Communications meeting specific terms and conditions outlined in the LoI.

This move aligns with the company's strategic focus on bolstering its manufacturing capabilities to cater to the growing demand for renewable energy infrastructure.

HBL