The complex is planned at the Chintalapudi and Recherla coal blocks in coastal Andhra Pradesh
The company will invest up to Rs 27.75 crore in cash for the stake. The transaction is expected to be completed within 180 days
OHM Global Mobility Limited will also operationalise electric buses for public transport in the state and expand its mobility solutions business
According to the company, the transaction has reduced borrowing costs by about 150 basis points across the issuing SPVs
