NSL Sugars received Permission from the Odisha Government to set up Sugar Refinery in Odisha

NSL Sugars, an arm of Nuziveedu Seeds group received the go-ahead from the Odisha Government to set up a sugar refinery in that state. Raw sugar will be imported for the refinery for which the company is in the process of acquiring land for the Rs 800-crore project. Most of the produce from the refinery will be meant for exports. NSL Sugars would fund the project in a debt-equity ratio of 3:1 and would have an initial capacity of 2000 tonnes a day (tpd).

NSL Sugars also achieved financial closure for the expansion plan of its Aland (Karnataka) plant when central Bank of India-led lenders agreed to meet the debt requirement of Rs 288 crore.

The Rs 385-crore expansion project was being taken up with a debt-equity ratio of 3:1. The other banks taking part in the debt were State Bank of Hyderabad and Corporation Bank.

After the expansion, the capacity of Aland plant would go up to 5000 tonnes crushed a day (TCD) from the present 1250 TCD. There will also be a co-generation plant of 28 MW and distillery plant of 60 kilo litres a day (KLPD).

NSL Sugars has overall capacity of 11500 TCD. It registered a turnover of Rs 450 crore in 2010-11.