Simbhaoli Sugars Limited (SSL) in a joint venture (JV) arrangement with E D & F Man Holdings (E D & F Man), representing a 229 years old business group comprising of an internationally renowned sugar trading house; announce the ground breaking and commencement of the project construction activities at
site, to set up a green field 1,000 metric tonnes per day sugar refinery, at Kandla, West Coast, Gujarat, India.
The project is being implemented through their JV Company, Uniworld Sugars Private Limited (USL).
This new raw processing facility is being set up in proximity to the Kandla port (approximately 21 km) for eliminating the transportation charges while import of raw and export of white sugar. This is going to be one of the least cost sugar refineries in the region.
The estimated cost of the project is Rs2,350 million, is being financed by way of long term loans and promoters' equity. The debt finance for the project has been secured from banks.
SSL and E D & F Man along with their affiliates are contributing into the share capital of USL in equal ratio, and first instalment of capitalisation of Rs689.5 million has already taken place. USL, the JV Company is governed by the board of directors comprising of representatives from SSL and E D & F Man, drawing their best expertise with Mr. Gurmit Singh Mann as the first Chairman.
By combining the SSL refining and raw procurement/marketing and international trading expertise of E D & F Man, the business will benefit from the sugar production and trading processes.
SSL shall provide the expert services of management and day to day operations, based upon its refining experience. E D & F Man will provide the advisory services on all aspects of the international market for raw and white sugar and issues related to the hedging of USL's market risks in connection therewith.
The civil and structural designing work for the factory including equipment foundation has already been started. The refinery will be built with technical support from Integrated Casetech Consultants Private Ltd., a technology and operationmaintenance Company engaged in the technical consultancy in sugar, alcohol and related energy areas.
At full capacity, the refinery will be producing 300,000 metric tonnes of high quality white sugar (45 icumsa or other qualities) having a current market value of approximately Rs8,700 million annually. The refinery will not only be producing imported raw sugar but can also process domestic raws to take care of the surplus inventory within the country.
....more info
site, to set up a green field 1,000 metric tonnes per day sugar refinery, at Kandla, West Coast, Gujarat, India.
The project is being implemented through their JV Company, Uniworld Sugars Private Limited (USL).
This new raw processing facility is being set up in proximity to the Kandla port (approximately 21 km) for eliminating the transportation charges while import of raw and export of white sugar. This is going to be one of the least cost sugar refineries in the region.
The estimated cost of the project is Rs2,350 million, is being financed by way of long term loans and promoters' equity. The debt finance for the project has been secured from banks.
SSL and E D & F Man along with their affiliates are contributing into the share capital of USL in equal ratio, and first instalment of capitalisation of Rs689.5 million has already taken place. USL, the JV Company is governed by the board of directors comprising of representatives from SSL and E D & F Man, drawing their best expertise with Mr. Gurmit Singh Mann as the first Chairman.
By combining the SSL refining and raw procurement/marketing and international trading expertise of E D & F Man, the business will benefit from the sugar production and trading processes.
SSL shall provide the expert services of management and day to day operations, based upon its refining experience. E D & F Man will provide the advisory services on all aspects of the international market for raw and white sugar and issues related to the hedging of USL's market risks in connection therewith.
The civil and structural designing work for the factory including equipment foundation has already been started. The refinery will be built with technical support from Integrated Casetech Consultants Private Ltd., a technology and operationmaintenance Company engaged in the technical consultancy in sugar, alcohol and related energy areas.
At full capacity, the refinery will be producing 300,000 metric tonnes of high quality white sugar (45 icumsa or other qualities) having a current market value of approximately Rs8,700 million annually. The refinery will not only be producing imported raw sugar but can also process domestic raws to take care of the surplus inventory within the country.
....more info