Dollex Industries acquires Kalamber SSK

MUMBAI: Dollex Industries announced the acquisition of Kalamber SSK, a co-operative sugar facility from the Maharashtra government for Rs 14 crore.

Considering the mandatory 10% ethanol blending program by the government, the company plans to invest another Rs 10 crore into Kalamber SSK over the next one year.

The company will expand the sugar crushing capacity of the unit to 10000 TCD and further add 100 KLPD of ethanol capacity and 30 MW of co-generation power.

Besides Godavari Manar SSK, this is the second major co-operative sugar company that Dollex has acquired in the past one year. The company plans to make three more acquisitions in the coming years.

The announcement, however, did little for the stock. At 12:25 PM, the share was down 1.43 per cent at Rs 103.10 with volume traded at 38,845 against two-week average of 64,879 shares.