NSL Sugars, a city-based NSL Group company, today said it had acquired the integrated sugar complex of Jay Mahesh Sugar Industries located in Beed district of Maharashtra.
The sugar complex has a capacity of 5,000 tonnes of cane crushing per day (TCD).
NSL Sugars has acquired the entire stake in Jay Mahesh, having a total asset base of over Rs 300 crore from the existing shareholders, Chandigarh-based Spray Engineering Devices.
NSL Sugars already has four of its plants operating in Karnataka and Andhra Pradesh.
"Sugar business is one of the core activities for NSL and it brings in a lot of value to our Group. With the acquisition of Jay Mahesh plant, we enter into the state of Maharashtra as current operations are spread in Karnataka and Andhra Pradesh. Our sugar team will be aggressive in exploring new opportunities and expanding the business," Mandava Prabhakar Rao, chairman, NSL Group, said in a statement.
Hari Vallurupalli, joint managing director, NSL Sugars, said: "We are quite happy to acquire Jay Mahesh since its technology is superior and allows us better recovery of sugar at 11.5%, as compared to 10% for other sugar mills. Sustaining and improving the current sugar recovery will be top of our agenda. We are hoping that the addition of co-generation and distillation capacities will be executed by next two sugar crushing seasons."
Jay Mahesh cane zone comprises of approximately 108 villages with an aggregate cultivable area of more than 83,460 hectares and the major operational area falls within a radius of 15 km.
The plant uses 'Falling Film Evaporator and Spray Continuous Pan technology' in the sugar unit, which consumes lesser power and consumes lesser steam than the conventional process.
The sugar cane produced in the area has higher sucrose content of 15-25% compared to other parts of the country.
