Financial Daily from THE HINDU group of publications
Monday, Apr 24, 2006
Financial Daily from THE HINDU group of publications Monday, Apr 24, 2006 |
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Corporate
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New Projects Industry & Economy - Sugar Dharani Sugars to invest Rs 65 cr in cogen facility R. Balaji
`Crushing' facts The mill's capacity to crush 2,500 tonnes sugarcane a day is being expanded to 4,000 tonnes. The work would be completed by mid-November.
Chennai , April 23 Dharani Sugars and Chemicals Ltd, which recently announced plans to expand its sugar milling capacity, is set to invest over Rs 65 crore in a new cogeneration facility at Tirunelveli and expand its distillery. Dr Palani G. Periasamy, Chairman and Managing Director, Dharani Sugars and Chemicals Ltd, told Business Line that the company would expand its distillery production to 90 kl a day from the present capacity of 60 kl and it would be setting up a 15-MW cogeneration unit at the Dharani Nagar sugarmill in Tirunelveli. The company's plan to expand the sugar mill at Polur, Thiruvannamalai, is at an advanced stage.
Capacity
The mill, which has a capacity to crush 2,500 tonnes sugarcane a day, is being expanded to 4,000 tonnes. The work would be completed by mid-November. A waste heat recovery system and energy efficiency measures are being implemented here to ensure that steam consumption per tonne of cane crushed is among the best in the industry. Dharani Sugars has concluded 2005-06 with a net profit of Rs 7.12 crore on sales of Rs 327.43 crore for the year ending March 31, 2006. In the previous year its net profit was Rs 1.12 crore on sales of Rs 169.28 crore. The buoyant sugar prices in the domestic and export markets is driving growth, he said. The company has an export obligation of over 1.59 lakh tonnes over the next three years but plans to meet its entire commitment sooner to take advantage of the prices. It has exported 11,750 tonnes sugar and is in the process of executing a 9,000 tonne order, Dr Periasamy said.
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