Chennai-based Dharani Sugars & Chemicals Ltd, is planning to enter refined sugar business to cater to bottling, hospitality and large scale chocolate manufacturing industries.
The company has set up its sugar refinery facility in its integrated sugar complex at Sankarapuram taluk in Tamil Nadu, with an investment of Rs 35 crore. The branding and commercial activities will go on stream in a year's time, said Palani G Periasamy, chairman, PGP group.
“The refinery facility is ready in our new unit and the processing for refined sugar will commence shortly. We may go as a brand under the Dharani Sugars within a year,” said Periasamy.
The refinery would have a capacity to process 350 tonne sugar per day. He added that the company sees a huge market potential for the business, especially in the hospitality and bottling industries.
It has also signed a memorandum of understanding (MoU) with UK-based agribusiness multinational firm Tate & Lyle Plc for technology transfer. While the technology would be from the UK firm, the manufacturing and marketing would be done by Dharani Sugars, he said.
The company has recently completed setting up of its third unit, the integrated sugar complex in Sankarapuram taluk, with an investment of around Rs 333 crore, according to reports. The plant has a crushing capacity of 3,500 TPT per day.
The Rs 1,500-crore Dharani Sugars has two sugar plants in Tirunelveli district and Thiruvannamalai district, in the state. It is a part of PGP group which has diversified business activities including property and infrastructure development, educational institutions and hospitality.