Panchganga Sugarcane Energy is planning to set up a jaggery unit at Kankvali, in Sindhudurg district of Maharashtra.

A spokesperson for the company divulged to ProjectsToday that it intended to set up a jaggery unit with a capacity of 20,000 tonne per annum. For the purpose, the company has acquired five acre of land and appointed Creative Sugar Centrifuge India, Triveni Engineering & Industries, and Thermax as machinery suppliers.

The project entails an investment of Rs 20 crore. Around 30 per cent of the project cost will be funded from internal accruals and the remaining through bank loans. Panchganga Sugarcane Energy is in the process of achieving financial closure for the project.

At present, work on the jaggery project is in the planning stage and is expected to commence by October 2014, with completion scheduled for October 2015. The company has received all the necessary clearances from the state government and is now scouting for a civil contractor for the project.

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