Dollex plans to set up sugar, power plants in Andhra
The company has entered into a MoU with the Andhra Pradesh government, wherein it will have a power purchase agreement (PPA) with the state government for a 10-year period.
By NIDHI SHARMA, TNN |
MUMBAI: Dollex Industries, a Mumbai-based company in the sugar, ethanol and cogeneration business, plans to construct an integrated sugar and cogeneration power complex in Andhra Pradesh.
According to sources, the company has entered into a MoU with the Andhra Pradesh government, wherein it will have a power purchase agreement (PPA) with the state government for a 10-year period. The integrated unit will produce sugar equivalent to 4,500 tonnes crushed per day (tcpd) of cane and 100 kilo litres per day (klpd) of ethanol, sources told ET.
The company now has a crushing capacity of 6,500 tcpd, which would be increased to 15,000 by 2008, while the ethanol capacity would be scaled up to 250 klpd by 2008 from the current 60 klpd. The company is planning an investment of around Rs 200 crore in the venture.
The turnover of the company was Rs 25 crore for the year ended March 2007 and the company hopes to ramp this up to Rs 150 crore by the end of 2007-08, mainly on new acquisitions in the region. The Dollex scrip fell around 3% to close at Rs 107.50 on BSE on Thursday.
Company managing director Anis Khan said Dollex planned to sign PPA with the state governments all over India . “The focus of Dollex Industries would be bio-fuel and cogeneration power plants,” Mr Khan added.
The company is in final stages of sealing a deal with Novera Energy, UK, one of the largest carbon traders in the UK and Australia and plans to duplicate carbon projects by setting up an additional three plants over the next few years.
According to sources, the company has entered into a MoU with the Andhra Pradesh government, wherein it will have a power purchase agreement (PPA) with the state government for a 10-year period. The integrated unit will produce sugar equivalent to 4,500 tonnes crushed per day (tcpd) of cane and 100 kilo litres per day (klpd) of ethanol, sources told ET.
The company now has a crushing capacity of 6,500 tcpd, which would be increased to 15,000 by 2008, while the ethanol capacity would be scaled up to 250 klpd by 2008 from the current 60 klpd. The company is planning an investment of around Rs 200 crore in the venture.
The turnover of the company was Rs 25 crore for the year ended March 2007 and the company hopes to ramp this up to Rs 150 crore by the end of 2007-08, mainly on new acquisitions in the region. The Dollex scrip fell around 3% to close at Rs 107.50 on BSE on Thursday.
Company managing director Anis Khan said Dollex planned to sign PPA with the state governments all over India . “The focus of Dollex Industries would be bio-fuel and cogeneration power plants,” Mr Khan added.
The company is in final stages of sealing a deal with Novera Energy, UK, one of the largest carbon traders in the UK and Australia and plans to duplicate carbon projects by setting up an additional three plants over the next few years.
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