Simbhaoli Sugar eyes Africa/S America to set up plant
New Delhi, Apr 10: In line with its plan to become global, Simbhaoli Sugar Mills Ltd today said it is exploring the possibilities to set up a green field manufacturing facility in Africa or South America.
The company said the plan is in line with exploring possibilities in the global market.
''The facility could be a standalone refinery or an integrated refined sugar unit. More details on this subject are being worked out,'' the company said.
Company sources said the new plant could be anywhere between 2,000 tonnes per day to 5,000 tonnes per day.
''The capacity would be 5,000 tpd in case of integrated plant and 2,000 tpd if stand alone,'' sources said.
Simbhaoli Sugar Mills recently has issued 33 million dollar (Rs 145 crore) worth foreign currency convertible bonds (FCCB) to part finance its Rs 400-crore expansion plans to be executed in 2006-07.
It is expanding its domestic capacity to 19,500 tpd from the present 13,300 tpd this fiscal. The company is implementing its expansion projects in order to expand its sugarcane crushing, ethanol manufacturing and power co-generation capacities at its existing facilities located in Simbhaoli (Western Uttar Pradesh) and Chilwaria (eastern Uttar Pradesh).
The company presently has sugar plants in Uttar Pradesh.