Triveni plans Rs 558cr expansion

Triveni Engineering and Industries is planning to invest Rs 558 crore to expand capacities and setting up new facilities.

The board of directors approved the capital expenditure of Rs 558 crore for two new sugar units with a capacity of around 6,000 TCD each at Chandanpur and Rani Nagal in Uttar Pradesh, and expansion of the Ramkola sugar unit capacity from 3,500 to 6,500 TCD, the company said in a release issued to the BSE today.

The company would also set up additional co-generation facilities of 22 MW at Khatauli and a distillery of 160 kilo liters per day capacity, the release added.

An EGM of shareholders would be held on April 28 to approve a proposal to raise up to Rs 550 crore via FCCBs/GDRs, and hiking the FII limit to 49%, the release said.