Sanwaria Agro to buy 2 solvent extraction units in MP

New Delhi, Feb 25 (UNI) Sanwaria Agro Oils Ltd (SAOL), country's leading soyabean processors and refined oil maker, plans to acquire two solvent extraction plants in Madhya Pradesh.

It 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.

''The market for refined soyabean oil in India is estimated to be worth Rs 7,500 crore. These acquisitions at a cost of Rs 15 crore and further proposed investment will enhance our present capacity of 1,000 metric tonnes by another 1,000 metric tonnes that will go a long way in helping us meet market demand,'' company's Director Anil Agrawal said.

The revenues generated by these acquisitions will boost the company's bottom line significantly in future and will increase our market share from eight per cent to 15 per cent of edible oil production of MP, he added.

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

UNI