Financial Daily from THE HINDU group of publications
Friday, Nov 04, 2005
Financial Daily from THE HINDU group of publications Friday, Nov 04, 2005 |
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Corporate
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New Projects Sentini group plans Rs 300-cr expansion programme Our Bureau
Hyderabad , Nov. 3 THE Sentini group of industries has chalked out a major expansion involving investments of around Rs 300 crore for its businesses. The Hyderabad-based group has diversified interests in ceramics, steel fabrication, construction, information technology and biotechnology. The group promoter, Mr Seshagiri Rao Tipirneni, told newspersons that it was decided to take up Rs 150 crore-expansion programme in its group flagship company - Sentini Ceramica (P) Ltd - to double the capacity to 50,000 square metres per day from 26,000 square metres per day. Sentini Bioproducts (P) Ltd, another group company, is setting up a 1.2-lakh litres per day grain-based extra neutral alcohol and potable alcohol manufacturing plant at a capital outlay of Rs 107 crore. The biotechnology company also proposes to set up a brewery project with a capacity of 2-lakh hectalitre per annum at an investment of around Rs 40 crore, Mr Rao said. Sentini Ceramica, a 50:50 joint venture with H&R Johnson (India) Ltd, is executing an expansion involving an investment of around Rs 75 crore to enhance the capacity to 26,000 square metres from the existing 13,000 square metres. The expanded capacity is set to be ready by year-end. The proposed Rs 150-crore expansion will be completed by 2007-08. With Rs 85-crore turnover last fiscal, Sentini Ceramica expects to close the current fiscal with a turnover of Rs 120 crore. It has set a target of Rs 150 crore turnover next fiscal and Rs 500-crore for 2007-08 with the help of expanded capacity, Mr Rao said. Sentini Bioproducts has obtained clearance from the Government for the proposed alcohol manufacturing facility with an agreement to sell 25 per cent of the production to the Government. The company has entered into a technical collaboration with the US-based Delta-T. Estimating at least one-lakh tonnes of maize or tapioca as raw materials for the alcohol manufacturing, the company is planning to enter into contract farming on a massive scale. According to Mr Rao, the group plans to raise around Rs 100 crore as equity from the NRI promoters and meet the balance funds requirement through banks and financial institutions. "We are currently chalking out roadmap for the group involving investments of around Rs 1,000 crore and creating direct employment for over 10,000 by 2010."
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