Financial Daily from THE HINDU group of publications
Sunday, Sep 04, 2005
Financial Daily from THE HINDU group of publications Sunday, Sep 04, 2005 |
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Corporate
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New Projects Gayatri Sugars plans to set up distillery unit Our Bureau
Hyderabad , Sept. 3 GAYATRI Sugars Ltd (formerly NCS Gayatri Sugars Ltd) plans to set up a 40 kilolitres a day cane molasses-based distillery unit at its factory in Kamareddy (Nizamabad) district. The project, which is yet to be finalised, would cost Rs 25 crore. "It will manufacture rectified spirit and extra neutral alcohol/ethanol," a company press release said here. Gayatri Sugars had entered into a pact with sugar factories in the vicinity for supply of molasses to the proposed distillery unitThe project would be financed through internal accruals and term loans from financial institutions and banks. The project would be grounded this financial year. "It will take about 18 months to complete the project," the release said. The company, which recorded a turnover of Rs 75.9 crore during 2004-05, has targeted a turnover of Rs 82 crore this financial year.
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