Sunday, May 19, 2024

Shree Ram Proteins Ltd Plans Major Diversification To Set up Oil Processing Plant in Russia

Shree Ram Proteins Ltd. engaged in manufacturing of de-oiled cotton seed cake and other related products, amongst very few manufacturers of this product in India, has announced Major Diversification plans whereby it is setting up Sunflower Oil manufacturing unit at Russia, Tambov Region, Kotovsk. The Company has received all requisite statutory approvals and also taken land on Lease for 99 years. Sunflower Oil unit will have a capacity of Processing 500 tons per day of Raw Material (Sunflower Husk having capacity of 100 tons per day, Sunflower Meal- 200 Tons per day, Sunflower Oil 200 Tons Per Day). The total estimated Capital Expenditure for diversifying its operations will be aprx Rs. 150 crores and this Investment will be contributed through internal accruals. The entire project is slated to be operational by December 2024. This investment is fully in line with its existing line of business and will provide operating efficiencies between the business segments.

Further Company had also acquired Tea Gardens in Silchar, Assam (Area- 496 Hectares) on Lease for 25 years. Company is planning to Export Tea Packings Worldwide. Currently Company is selling Tea Leaves, Tea Processing. Machines will be installed within a year and it is will start commercial operations tentatively by June 2023. With the commercialization of these new projects, the Company’s turnover is expected to increase. Company will sell Tea Leaves and Tea Packings under its Brand Name “Bhagyalaxmi” TM and is also planning to export Tea Packings worldwide.

Company is into full fledge execution of setting up a new oil refinery. The Company has ordered a state-of-the-art refining plant for the new business segment. The Company will be refining edible oil such as cotton seed oil, sunflower oil etc. and will be entering the consumer market in India under its own brand name “-Bhagyalaxmi”TM.

Recent Articles

Related Stories

Leave A Reply

Please enter your comment!
Please enter your name here

Stay on op - Ge the daily news in your inbox