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Chennai, April 11 Madras Cements Ltd will float a subsidiary company to set up an integrated sugar plant in Tamil Nadu.

According to information provided by Madras Cements to the BSE, the company decided on Friday to incorporate a wholly owned subsidiary for production and sale of sugar and allied products. The shareholders approved the proposal at the AGM in 2007.

Company officials said the subsidiary, Madras Sugars Ltd, will set up a mill with a capacity to crush 5,000 tonnes of sugarcane a day along with a cogeneration facility and a distillery. The mill would come up in Thirukovilur, Tamil Nadu, where the company has been allocated the sugarcane command area. On the scale of investments, the official said the details were being finalised.

However, going by the thumb rule and prevailing industry standards, an integrated facility with a 5,000 tcd mill could cost over Rs 450 crore. Such a mill would support a 30-MW cogeneration facility and a 60-kilolitre a day distillery.

More Stories on : Diversification | Sugar | Cement

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