Dollex bags sugar unit lease tender for 6 yrs

New Delhi, Aug 21 (UNI) Dollex Industries Ltd today said it has bagged the tender to lease the Godavari Manar SSK Ltd, a Co-operative sugar manufacturing facility with a capacity of 2500 TCD located in Nanded, Maharashtra for a period of six years The company plans to invest Rs three crore to upgrade and overhaul the unit, making it operational in-time for this years sugar season.

It expects to crush about 3,00,000 tonnes of cane, boosting turnover by Rs 66 crore and profits by Rs six crore for the current year.

The company bid for the unit earlier this month, for sugar season 2006-07 to 2010-11, to gain a competitive edge in its ethanol strategy and diversifying its product line.

It has also announced its plans to double authorised capital from Rs 5.5 crore to Rs 10 crore.

Godavari Manar SSK is valued at over Rs 50 crore. The 'cane area' around the factory is fully developed with surplus cane available since its first year of operation.

Good rains this year have also ensured good cane availability so as to ensure maximum capacity utilisation, a company statement said.

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