SAOL to acquire two solvent extraction plants in MP

Mumbai, Feb 21 (UNI) Sanwaria Agro Oils Limited (SAOL), a leading soyabean processor and refined soyabean oil maker, has announced plans to acquire two Solvent Extraction Plants in Madhya Pradesh at a cost of Rs 15 crore.

''The market for refined soyabean oil in India is estimated to be worth Rs 7500 crore. These acquisitions and further investment in them will enhance our present capacity by 1000 metric tonnes that will go a long way in helping SAOL meet market demand,'' SAOL director Anil Agrawal said in a release here today. The revenue generated by these acquisitions will boost our bottom line significantly in future and will increase our market share from 8 per cent to 15 per cent of edible oil production of MP, he added.

SAOL is also in the process of entering into an agreement with an overseas company for marketing its branded and non-branded products in that country.

''This move will benefit SAOL greatly as our products, branded and non-branded, will be marketed directly to the consumer. This will have a favourable impact on our bottom line due to the absence of middlemen/traders and their margin from the buying process,'' Mr Agrawal said.

SAOL is part of the Sanwaria Group, a Rs 500 crore group with four members, namely, Sanwaria Energy Limited, Sanwaria Infrastructure Limited, Sanwaria Agro Oils Limited and Sanwaria Foods Limited.

UNI