Empee Sugars & Chemicals is likely to mobilise Rs 146.85 crore by issue of
shares to its holding company Empee Distilleries to part finance its Rs
515-crore integrated sugar mill project coming up at Tirunelveli in Tamil Nadu.
Empee Sugars is setting up a 5,000-tccpd sugar mill, 50-MW cogeneration plant
and a 100-klpd distillery at the integrated sugar mill complex. The company
expects to commission the sugar mill in April 2010 and the distillery in October
2010.
According to sources, to part finance the project, it is likely to issue
146.85 lakh unlisted redeemable preference shares of Rs 100 each aggregating Rs
146.85 crore on private placement redeemable. The proposal is subject to
statutory approvals from the board of directors, shareholders and from other
regulatory authorities.
Also See:
Empee
Sugars to begin trial production of new unit at Ambasamudram (12-Jan-10)
Related Links:
Project profile