The factory would be tagged with a 23 Mw capacity co-generation power plant and a 60 kilolitres per day distillation plant, A Srinivasan, Chairman of the mill, said.
The factory was coming up on 150 acre land, owned by C Thanalakshmi Srinivasan Group. The group would go in for financial assistance by tying up with a consortium of three nationalized banks, he said.
The crushing capacity of the plant is estimated to be eight lakh tones of sugarcane during the crushing season (which will run to eight months in a year).
Srinvisasan said the factory would generate job opportunities for more than 2,000 people.