Premier Ltd has received Rs 27 crore from the Indian Railways as the first tranche payment against land acquired by it at Dombivali near Mumbai to develop the dedicated freight corridor.
In a filing to the BSE, Premier said that it currently owns about 68 acres at Dombivali after monetisation of 150 acres in January.
Out of the existing 68 acres, the Indian Railways is in the process of compulsory acquisition of about 26 acres for the corridor project being implemented by it. The total amount expected as compensation for the acquisition is about Rs 100 crore.