Triveni Engineering & Industries is planning to invest Rs 210 crore to increase sugar crushing capacity and expand its transmission business, reports The Economic Times.
The company has doubled its ethanol production capacity in the last 18 months and is now focussing on increasing sugar production capacity.
The company will invest Rs 130 crore in the modernization of its three units at Khatauli, Deoband, and Sabitgarh in Uttar Pradesh, said Tarun Sawhney, managing director at Triveni Engineering. This will help the company double its capacity for pharmaceutical-grade sugar that fetches a significant premium over refined sugar. This will also help in increasing the share of refined sugar from 40% to 60% of the total sugar production.
According to the news report, it will also invest Rs 80 crore in the power transmission business towards modernisation, expansion, and for the purchase of machinery.
Triveni Engineering is one of the biggest sugar and ethanol production companies in India.
