Small-cap stock below ₹5: Vikas Lifecare has entered into a joint venture agreement with Indraprastha Gas Limited to set up India s first integrated smart meter manufacturing unit
New Delhi [India], March 7 (ANI/NewsVoir): Vikas Lifecare Limited is pleased to announce that its subsidiary company Genesis Gas Solutions Pvt. Ltd. (Genesis) enters into Joint Venture Agreement with Indraprastha Gas Limited (IGL) to set up India's first Integrated Smart Meter Manufacturing Plant with Capital Expenditure of Rs 1100 million. IGL and Genesis joined hands to establish India's first Integrated State-of-the-art Smart Meter Manufacturing Plant to manufacture Diaphragm Gas Meters equipped with IoT technologies like LoRa, LoRaWAN, Bluetooth, NFC, NB-IoT etc. These Smart Meters shall provide much-needed solutions to manage consumers' energy demand and metering with utmost accuracy and on real-time basis. Initially, the Smart Meter Manufacturing Plant shall have installed capacity to manufacture 1 Million Meters annually, and is planned to be operational by April 2024. The rise in disposable incomes, rapid urbanization, climate stability challenges and the government
Indraprastha Gas Ltd and Genesis Gas Solutions Pvt Ltd have announced Joint Venture Agreement to set up India s first Integrated Smart Meter Manufacturing Plant with Capital Expenditure of Rs. 1100 millions.