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NSL Sugars, an arm of Nuziveedu Seeds Ltd, has commenced operations at Krishnaveni Sugars factory in Mahaboobnagar district.
The integrated sugar, co-generation power and fuel grade ethanol project has been set up at Kothakota mandal with an investment of Rs 350 crore. NSL Sugars, with presence in Karnataka, has an installed capacity of 9000 tonnes crushed a day (TCD).
“We have used debt and internal accruals to develop the project. It will have 3,500 TCD capacity, besides producing 28 MW of power. It could also produce 45,000 litres a day of ethanol,” Mr Mandava Prabhakar Rao, Chairman of NSL group, said here in a press release.
“At a later stage, production capacity would be expanded to 5,000 TCD,” he said.
“Since our sugar business vertical has already been well established in Karnataka, Mahboobnagar plant will help us expand into Andhra Pradesh significantly besides increasing our market share in other States. We are expecting the turnover of sugar business to touch Rs 550 crore this year.”
“Krishnaveni Sugars would have a commanding area of 20,000 acres, providing employment of 500 people,” Mr Hari Vallurupalli, Joint Managing Director of NSL Sugars Ltd, said.
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