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DCM Shriram to invest over Rs 350 cr on expansion of sugar business | DCM Shriram will expand its sugar business, will invest Rs 350 crore

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DCM Shriram to invest over Rs 350 cr on expansion of sugar business

New Delhi. DCM Shriram Limited, which is engaged in the business of chemicals, sugar and fertilizers, on Monday announced an investment of Rs 350 crore for capacity expansion of its sugar mills. The company has approved three investment proposals for its sugar business. DCM Shriram said in a statement that investments will be made to leverage the increased availability of sugarcane in its catchment area, expand capacity for production of refined sugar and build feedstock for its distilleries.

DCM Shriram’s sugar mills are located at Ajbapur, Rupapur, Hariyawan and Loni in Uttar Pradesh. The combined production capacity of these four sugar mills is 38,000 TCD (crushing sugarcane per day). The company said that by expanding the sugarcane crushing capacity of 3000 TCD at Ava Ajbapur plant to 13500 TCD and for this the company will invest Rs 258 crore. An investment of Rs 50 crore will be made in the 8000 TCD Hariyawan Sugar Mill.

DCM Shriram will make grain attachment of 260 KL per day capacity for its soon to be commissioned 120 KL per day distillery at Ajbapur with an investment of Rs 50 crore. All three expansion plans will be completed by October 2022. DCM Shriram Limited is a leading business conglomerate with a total turnover of Rs.8308 Crores.

DCM Shriram’s business portfolio includes Agri-Rural Business – Urea & Phosphatic Fertilizers, Sugar, Agri Solutions Business, Agri Inputs, R&D Based Hybrid Seed, Caustic Soda, Chlorine, Calcium Carbide, Aluminum Chloride, PVC Resins, PVC Compounds, Power and Cement Also includes UPVC Windows and Doors.

Motherson Sumi Systems to raise Rs 1000 crore through NCDs

Auto accessories major Motherson Sumi Systems Ltd on Monday said its board has given its approval for raising Rs 1,000 crore through NCDs. In the meeting of the Board of Directors of the company on Monday, it has approved NCDs with a face value of Rs 10 lakh. These will be issued on private placement basis and will be listed on BSE.

The company further said that a committee of directors would take a decision regarding the tenure and date of issue of the NCDs, maturity, rate of interest and date of repayment etc. The company did not specify where it would use the money. The company has been pushing for acquisitions recently. Last month, it acquired Bengaluru-based CIM Tools Pvt. Ltd. Acquired a majority stake in the company at an enterprise value of Rs 400.5 crore. Group company Samvardhana Motherson Reflects has also bought a controlling stake in Nanchang JMCG Mecra Lanz Vehicle Mirror Co Ltd. The company manufactures automotive mirrors for passenger vehicles, pick-up trucks and light and heavy commercial vehicles in China.

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