Financial Daily from THE HINDU group of publications
Saturday, Nov 06, 2004
Financial Daily from THE HINDU group of publications Saturday, Nov 06, 2004 |
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Corporate
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Announcements Bajaj Hindusthan begins production at UP plant Our Bureau
New Delhi , Nov. 5 BAJAJ Hindusthan Ltd (BHL) on Friday commenced commercial production at the Greenfield sugar plant at Kinauni near Meerut in Uttar Pradesh. With a production capacity of 7,000 tonnes sugarcane crushed per day, it is the largest refined sugar plant in the country and has been set up with an investment of around Rs 155 crore, the company said in a statement here. It said the company hopes to recover this investment within four years. With the new plant, BHL's total sugar capacity has increased to 0.52 million tonnes per annum. "The world-scale facility incorporates global benchmarks and practices introduced for the first time in the domestic sugar industry. The average cane recovery area is 10.5 per cent. We are confident of attaining higher recovery levels through the most modern equipment installed in this unit," the CEO, Mr Kushagra Nayan Bajaj, said. He said the Kinauni plant was the first in a series of expansion projects initiated by BHL that will help it attain economies of scale in manufacturing as well as cost competitiveness. Other greenfield projects underway are coming up in Muzaffarnagar and Bijnore districts of Western UP with capacities of 1,32,000 tonnes per annum each and a total planned investment of Rs 400 crore.
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