Kolkata headquartered Emami Group has chalked out a Rs 5,500 crore investment proposal for its flagship Emami and group companies. Emami is likely to raise the funds through a mix of debt and internal accruals.

The group has earmarked Rs 1,600 crore each for Emami and Emami Biotech, around Rs 700 crore for Emami Paper Mills, around Rs 1,000 crore for Emami Realty and about Rs 600 crore for other group companies including AMRI and Frank Ross.

Emami Biotech will utilise the Rs 1,600 crore outlay for the expansion of the existing Haldia unit, to set up two greenfield edible and non edible oil refineries in India as well as take up plantation of biofuel crops (jatropha) and other edible & non edible oil seeds in Ethiopia.

Emami Paper Mills plans to enhance the writing, printing, newsprint and coated papers capacity of the Balasore unit (Orissa) from 1,50,000 to 2,50,000 tpa over the next two years for an estimated investment of Rs 700 crore.

Another subsidiary Emami Realty proposes to develop at least two residential projects in Hyderabad, one in Coimbatore, one in Mumbai and more than one in Kolkata. Plans for AMRI chain of hospitals include a 300-bed hospital in Bhubaneswar, a 300-bed women and child hospital in Kolkata and expansion of the existing Dhakuria and Salt Lake hospitals by 7 beds each.

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Emami Biotech to take up plantation project in Ethiopia (04-Aug-09)