Acquires a Sugar Unit from Sangam Coop Sugar Factory from Karnataka Govt Plans to invest Rs 200 Crores over next two years
Hyderabad, November 14......: AMR Agro Farms Limited, a AMR Group company, Hyderabad based, with business interests in developing Bio-Fuels, Renewable Plantation and Contract Farming now plans to foray into Sugar industry with acquisition on lease a Sugar unit from Shri Sangam Co-operative Sugar Factory at Hidkal Dam, Belgaum Dist, Karnataka for 30 years on BOOT (Build, Own Operate and Transfer) basis. This unit was leased out as part of Karnataka Government's decision to privatize the sick units under BOOT scheme.
Shri Sangam Co-operative Sugar Factory is situated in a rich sugar growing belt and has over 26000 share holders of sugarcane growers spread in over 30 villages. AMRAFL will pay yearly lease rentals spread over 30 years and shall invest Rs. 200 Crores disclosed Mr. Vijay Shiraguppi, CEO of AMRAFL.
Adding further, Mr. Vijay Shiraguppi declared that AMR Group intends to build a 5000 TCD Sugar unit, with 30 to 32 MW Co-Generation of Power and 60-80 KLPD Ethanol Plant at the same site in the next 1-2 year.
Mr. Vijay Shiraguppi, who is spearheading this venture, said, that Co-Generation Power plant from Bagasse and Ethanol from Molasses, which represent future trends of the renewable energy and alternative fuel sectors and considering the huge increasing demand for Ethanol mixing with Fuel in the coming years, signifies a sure success of AMR Group and justifies the decision to make this foray in this emerging sector and have a sustained business growth. These are CDM projects too and earn Carbon Credits apart from ensuring supply of alternative energy and conservation of our Environment.
AMR Group is promoted by a first generation entrepreneur Mr. A. Mahesh Reddy and has diversified interests in Mining, Construction, Irrigation Contracts and Real Estate, over the last 12-13 years.
With AMR Group from Hyderabad investing in Karnataka and considering that many other AP based companies investing in Sugar Industry, it appears a boom time for Sugar Industry in Karnataka, said Mr. Vijay Shiraguppi.
Media can reach Mr. Vijay Shiraguppi, CEO on his mobile: 998 990 4560 for more information.
Issued for and on behalf of AAFL by D.Ramchandram, Solus Media, Mobile: 98480-42020
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