The Hindu Business Line : Aries Agro proposes units at Panvel, Lucknow

Ahmedabad, Aug 18 Specialty micronutrients and bio-fertilisers company Aries Agro Ltd (AAL) would start two more micronutrient plants at Lucknow and Panvel (New Mumbai) by December 2008, Dr Rahul Mirchandani, Executive Director, said here on Monday.

With the addition of their 21,600 tonnes of micronutrients production annually, the company’s total production from eight plants would go up to one lakh tonnes per annum (TPA), he told reporters. The company, which manufactures 107 formulations for use in agriculture and related fields for different applications, would invest around Rs 10 crore on these plants.

Gujarat’s first and AAL’s sixth bio-fertiliser plant will start at Sanand in Ahmedabad district tomorrow. The Sanand unit, set up with an investment of Rs 4.50 crore, would manufacture mainly two specialty plant nutrition products – phosphate solubilising microbes (PSM) and nitrogen fixing bacteria, both in liquid form, to serve the growing demand of more than eight million farmers who are AAL’s customers across the country, he said.

The use of environment-friendly bio-fertilisers reduces the usage of chemical fertilisers, already in short supply, by 15 to 40 per cent. This unit would also have a micronutrient manufacturing facility with a capacity of 19,800 TPA, thus subsequently increasing the company’s total capacity of bio-fertiliser production to 1.50 lakh TPA.

AAL, which hit the capital market through an IPO a few months ago, has so far utilised Rs 40 crore out of the Rs 58.5 crore it collected, Dr Mirchandani added.

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