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Hyderabad April 18 Aries Agro Ltd, a plant nutrition solutions company, has announced a major expansion programme that will take total manufacturing capacity to 95,400 tonnes per annum (tpa) from 21,600 tpa by the year-end.

Apart from the 32,400 tpa manufacturing facility it opened on Wednesday, the Mumbai-based company would open two others in Ahmedabad and Lucknow catering to the Western, Northern and Central States.

Speaking to newspersons, Dr Jimmy Mirchandani, Joint Managing Director, said that the company was also setting up manufacturing facilities in the UAE.

To support expansion plans, the company will come out with a public issue in the next few months to raise Rs 54 crore. "We have filed a draft red herring prospectus with the SEBI, the NSE and the BSE," he said.

The company registered turnover of Rs 74 crore in 2006-07 against Rs 59 crore in the previous year.

Aries, which exports products to East Africa, Bangladesh and Nepal, also plans to increase focus on export markets.

The new facility at nearby Patancheru will manufacture water-soluble sachets, offering environmental-friendly products to farmers.

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