Financial Daily from THE HINDU group of publications
Monday, May 15, 2006
Financial Daily from THE HINDU group of publications Monday, May 15, 2006 |
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Corporate
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New Projects Agri-Biz & Commodities - Foodgrains SVP to make alcohol from grains, molasses Our Bureau
Spreading wings To set up plants at Mansurpur in Muzaffarnagar district of UP. Funds for the project will be raised through IPO, debts, internal accruals.
Mumbai , May 14 SVP Industries Ltd, a company involved in alcohol and distillery business, has announced the setting up of an alcohol manufacturing plant that would use both grains and molasses. It also plans to set up an ethanol plant. The plants will be set up at Mansurpur, in Muzaffarnagar district, in western Uttar Pradesh. The entire project is worth over Rs 45 crore, which will be raised through IPO, debts and internal accruals, said a senior official of the company.
Expansion plans
SVP Industries, a family-run business, was set up in the 1960s. At present, it is involved in the production, marketing and sale of industrial alcohol, country liquor and Indian Made Foreign Liquor (IMFL). The company plans to expand the manufacturing of country liquor and IMFL from 86.4 lakh bulk litres (BL) to 135 lakh BL per annum. This expansion is to meet the rising demands of the alcohol industry. On account of the volatility in prices of molasses, the alcohol plant of 50 kilo litres per day will be run on molasses and grains. Its ethanol plant will have a capacity of 40 kilolitres per day to meet the rising demands of petroleum. As crude prices are set to rise, many countries are utilising ethanol by blending it with petrol for using it as automotive fuel, said Mr Ajay K. Swarup, President, SVP Industries. The Indian Government has permitted blending of ethanol to the extent of 5 per cent with petrol. The company also has plans to set up a 60,000-litre Thermophilic System bio-methanation and a Reverse Osmosis plant in the future.
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