Bajaj Hindusthan has tied up Rs.400 crore as term loan from State Bank of India to part-finance its Rs.565 crore expansion programme.

During 2003, BHL had outlined a major capacity expansion programme involving the setting up of four sugar mills with combined capacity of 28,000 tccpd. Out of this one 7,000 tccpd unit at Kinnouni in Meerut district of Uttar Pradesh was commissioned in November 2004. (See Related News.) Three other units, with capacity 7,000 tccpd each are coming up at Bilai (Bijnor district), Thanabhawan and Bhaisana (both in Muzaffarnagar district).

The total project outlay of these four units is Rs.565 crore out of which Rs.400 crore would come from State Bank of India and the remaining through internal accruals.

The company is also planning to raise Rs.100 crore through a public issue of equity shares or through an international issue of foreign currency convertible bonds.

Related News:

BHL commissions Meerut unit (6-Nov-04)