| "We have started the civil works six months back in about 30 acres of land and it is almost complete. Erection of machinery will be started from March, and we will begin trial production in July," Datla Ranga Raju, managing director of Vizainagar Bio-tech, told Business Standard. |
| The unit is coming up at Kopperla village in Vizainagaram district about 50 kilometres from Visakhapatnam. |
| The promoters of the project are investing Rs 5 crore as their equity contribution while Syndicate Bank has provided a loan of Rs 15 crore to take up this project. |
| "We have plans to expand this unit with an investment of between Rs 25 crore and Rs 30 crore after two years. We may go in for a public issue to raise funds at that point of time," he said. |
| Initially, Vizainagar Bio-tech will produce three grades of starch and liquid glucose by using maize as raw material. These three grades of maize starch can be used in the textile industry, paper industry and pharmaceutical industry as raw materials. |
| Liquid glucose will be used in the manufacturing of cakes and confectionery. Maize waste can also be used in the animal feed manufacturing industry. |
| "There is a lot of demand for our products inside and outside of Andhra Pradesh. Vizainagar Bio-Tech unit requires about 100 tonnes of maize every day. Farmers are cultivating maize across thousands of acres in the three north coastal districts. We can easily procure the required maize stocks from farmers," Raju said. |
| "We expect to achieve a turnover of Rs 100 crore a year by selling maize starch, liquid glucose and other products," he added. |
| The group is operating a steel re-rolling mill in the name of Vizainagar Iron and Steel Company in Vizainagaram district. The plant has a capacity of 100 tonnes per day and during the last fiscal the steel unit recorded a turnover of Rs 45 crore. |
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