DCM Shriram to invest over Rs 350 cr on expansion of sugar business
DCM Shriram, which is into chemicals, sugar, and fertilisers businesses, on Monday, announced an investment of over Rs 350 crore, mainly to expand the capacity of sugar mills. The company approved three investment proposals for the sugar business to capitalise on the increase in sugarcane availability in its catchment area, enhancing capacity for production of refined sugar due to consumer preference and building flexibility of feedstock for its distilleries, DCM Shriram said in a statement. DCM Shriram Sugar factories are located in Ajbapur, Rupapur, Hariawan, and Loni in Uttar Pradesh, with a combined installed capacity of 38,000 TCD (tonnes crushed of sugarcane daily). The company said it will increase sugarcane crushing capacity by a net 3,000 TCD (tonnes crushed per day) to 13,500 TCD at Ajbapur plant along with conversion to refined sugar for the entire plant with an investment of Rs 258 crore. "Conversion of existing 8000 TCD Hariawan sugar facility to refined sugar with an investment of Rs 50 crore. Post this entire 13000 TCD plant will produce refined sugar at Hariawan," it said. DCM Shriram will also increase grain attachment in distillery size to 260-kilo liter per day for the upcoming 120 KLD distillery at Ajbapur at an investment of Rs 50 crore (Upcoming distillery capacity to remain at 120 KLD). The three expansion projects will commission by October 2022.
DCM Shriram Ltd is a leading business conglomerate with a group turnover of Rs 8,308 crore. The business portfolio of DCM Shriram comprises (a) Agri-Rural Business - urea and phosphatic fertilisers, sugar, farm solution business covering the entire range of agri-inputs, R&D-based Hybrid Seeds (b) Chlor-Vinyl business - caustic soda, chlorine, calcium carbide, aluminum chloride, PVC resins, PVC compounds, power and cement (c) value-added business Fenesta Building Systems making UPVC windows and doors.