Madras Cements, a Ramco Group company, has decided to scrap its plans to
enter the sugar business due to the constraints it faced such as declining cane
area under cultivation and increasing competition from sugar mills in Tamil
Nadu.
Earlier, the company had planned to set up a greenfield plant in Thirukovilur,
along with a cogeneration power and an alcohol plant, entailing a total
investment of Rs 450 crore. However, Coimbatore based Bannari Amman Sugars is
expected to implement a sugar complex at Thirukovilur in Tamil Nadu's Villupuram
district.