CG Power and Industrial Solutions has received approval for entering into conveyance agreement for sale of remaining portion of Company’s land situated at Kanjurmarg, Mumbai currently housing the transformer manufacturing unit admeasuring approximately 13 acres to Evie Real Estate for an aggregate sum of Rs 498.96 crore and also approved closure/ shifting of the said transformer manufacturing unit as a precondition to such sale of land. The Board of Directors of the Company at its meeting held on June 21, 2019 has approved the same.
Avantha Group Company CG Power and Industrial Solutions (formerly Crompton Greaves) is a global pioneering leader in the management and application of electrical energy. CG provides end-to-end solutions that meet all electrical needs of its customers. CG’s offerings include electrical products, systems and services for utilities, power generation and industries.