Riddhi Siddhi sets up a new plant for modified starches

New Delhi, Dec 13 (UNI) Riddhi Siddhi Gluco Biols Ltd, the manufacturer of starch and its derivatives, has set up a new plant for manufacturing of modified starches for paper industry, at its existing Gokak unit in Karnataka.

RSGBL Managing Director Ganpatraj Chowdhary said, ''The new plant with a capacity of 12,000 tonnes per annum can successfully meet the increasing demand from its customers in paper industry like A P Paper, ITC (Badrachalam), Ballarpur Industries, West Coast Paper, Tamil Nadu Newsprint Ltd etc.'' RSGBL is also setting up a new plant at Uttranchal with maize crushing capacity of 1,65,000 tpa at a capex of Rs 110 crore.

The project is in advanced stage of implementation and would go on stream in March 2007.

This unit would focus on the manufacture of value-added starch and its derivatives especially for food, confectionery and pharmaceutical industries.

Since many customers of the company in food and pharma sectors have set up facilities at Uttranchal and Himachal Pradesh, this unit would be in a position to provide effective and timely service to its customers.

Besides, the company can encash the growing market in the food sector especially in north. The company expects its market share to grow from the present level of about 17 per cent to 25 per cent in next two years time.

Ahmedabad-based RSGBL has three plants located at Viramgam (Ahmedabad), Gokak (Karnataka) and Pondicherry.

RSGBL is one of the key exporters to countries like Japan, Bangladesh, Srilanka, Bangkok and other South East African and West Asia Countries.

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