GMR to set up sugar complex in Srikakulam
GMR Industry will set up another sugar complex in Srikakulam with a capacity to crush 2,500 tons of sugar cane per day.
By PTI |
HYDERABAD: City-based GMR Industry Ltd will set up another integrated sugar complex in Srikakulam district of Andhra Pradesh with a capacity to crush 2,500 tons of sugar cane per day.
A decision to this effect was taken at the company's board meeting here yesterday, GMR officials said on Friday.
The company already has a sugar complex at Sankli in the district.
"The decision to set up another sugar complex will help farmers who have been bringing sugar cane from 50-60 kms to the existing complex," company Joint Managing Director R Ramakrishna said.
"We are focusing in Jalanuru mandal of the district for the new complex and working out investment modalities besides going head with getting other clearances," he added.
The board also recommended 15 per cent dividend on equity shares and 8 per cent fixed dividend on preference shares, he said.
A decision to this effect was taken at the company's board meeting here yesterday, GMR officials said on Friday.
The company already has a sugar complex at Sankli in the district.
"The decision to set up another sugar complex will help farmers who have been bringing sugar cane from 50-60 kms to the existing complex," company Joint Managing Director R Ramakrishna said.
"We are focusing in Jalanuru mandal of the district for the new complex and working out investment modalities besides going head with getting other clearances," he added.
The board also recommended 15 per cent dividend on equity shares and 8 per cent fixed dividend on preference shares, he said.
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