 "Simbhaoli gets order to operate co-operative mill in UP")
The order has been bagged by Simbhaoli's subsidiary firm Integrated Casetech Consultants -- a technology vertical dedicated to provide 'concept-to-operating' consultancy services to the sugar and related industry globally.
Casetech Consultants has an annual turnover of about Rs 20 crore. It currently has an order book of Rs 40 crore, of which Rs 15 crore is in India and the rest overseas. The subsidiary has projects in countries such as Ethiopia, Philippines, Iran, Zimbabwe, Vietnam and Myanmar among others.
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"Our consultancy firm Casetech has signed an agreement with the UP Co-operative Mills Association for operation and maintenance of a co-operative sugar mill at Shahjahanpur in UP," Simbhaoli Sugars Managing Director Gursimran Kaur Mann told reporters here.
The plant, with a cane capacity of 2,100 tonne per day, was non-operational from last four years, she said, adding that this is the second such agreement for the company in UP.
Casetech already has an agreement with UP State Sugar Corporation to operate and maintain their sugar plant in Meerut district of UP.
"The management fees for both the consultancy projects in UP is Rs 5.5 crore annually," Simbhaoli Sugars Chief Financial Officer (CFO) Sanjay Tapriya said.
Besides UP, Casetech is operating and maintaining a sugar plant at Karnal, Haryana. It has completed feasibility studies for two sugar mills in Bihar.
The national capital-based Simbhaoli Sugars Ltd has three sugar mills in UP with manufacturing capacity of up to 300,000 tonnes per annum of sugar.