Mumbai, 1st August, 2008 : Shree Renuka Sugars Ltd. (SRSL) will set up a new 700,000 tons per annum sugar refinery at a cost of Rs.350 Crores in the Mundra SEZ in Gujarat. The plant is expected to be commissioned by March 2010. The new refinery will increase the company’s sugar refining capacity to 6000tpd, which includes the 2,000tpd refinery at Haldia and the refining capacity at two of its integrated sugar mills in Karnataka.
Shree Renuka Sugars also plans to increase the crushing capacity at its plant in Athani, Karnataka by 2,000 tcd to 8,000 tcd and at Havalga, Karnataka from 4,000 tcd to 8,000 tcd. This will increase the total crushing capacity to 35,000 tcd of which 24,750 tcd is owned capacity and the rest is leased. The expansions would be available from January 2009.
SRSL is also setting up an additional 15MW power plant at Havalga bringing the company’s total capacity to 164 MW. The new power plant would be commissioned in October 2009.
These two brown-field expansions at the mills and the new cogeneration power plant would cost Rs. 210 Crores.
SRSL has recently acquired Ratnaprabha Sugars Ltd, having 1,250 tcd sugar plant and a 30 KL/day distillery for Rs. 23.75 Crores. It has also entered into an agreement with the promoters of Godavari Bio-fuel Pvt. Ltd., for the purchase of 100% equity shares of the Company for Rs. 1.8 Crores. Godavari Biofuels has 4.8 acres in Khopoli, Maharashtra, which would be used to build ethanol storage tanks as it is strategically located near the Mumbai port to cater to SRSL’s clients and /or for exports.
Shree Renuka Sugars is a fully integrated company focused on manufacturing and marketing of sugar, power and ethanol. For the 9 months ended 30th June 2008, the Company posted a Total Income of Rs. 1,493.2 Crores and Net Profit of
Rs. 97.1 Crores.
Shree Renuka Sugars also plans to increase the crushing capacity at its plant in Athani, Karnataka by 2,000 tcd to 8,000 tcd and at Havalga, Karnataka from 4,000 tcd to 8,000 tcd. This will increase the total crushing capacity to 35,000 tcd of which 24,750 tcd is owned capacity and the rest is leased. The expansions would be available from January 2009.
SRSL is also setting up an additional 15MW power plant at Havalga bringing the company’s total capacity to 164 MW. The new power plant would be commissioned in October 2009.
These two brown-field expansions at the mills and the new cogeneration power plant would cost Rs. 210 Crores.
SRSL has recently acquired Ratnaprabha Sugars Ltd, having 1,250 tcd sugar plant and a 30 KL/day distillery for Rs. 23.75 Crores. It has also entered into an agreement with the promoters of Godavari Bio-fuel Pvt. Ltd., for the purchase of 100% equity shares of the Company for Rs. 1.8 Crores. Godavari Biofuels has 4.8 acres in Khopoli, Maharashtra, which would be used to build ethanol storage tanks as it is strategically located near the Mumbai port to cater to SRSL’s clients and /or for exports.
Shree Renuka Sugars is a fully integrated company focused on manufacturing and marketing of sugar, power and ethanol. For the 9 months ended 30th June 2008, the Company posted a Total Income of Rs. 1,493.2 Crores and Net Profit of
Rs. 97.1 Crores.
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