Shree Renuka - Acquisition Of Ethanol Plant And Setting Up Of Wholly Owned Subsidiary

Shree Renuka Sugars Ltd has informed that the Company has:

1. Completed the acquisition of the Ethanol plant of Dhanuka Petro-Chem a division of Dhanuka Cold Storage Pvt Ltd located at Khopoli, Maharashtra for a total consideration of appx. Rs 60 Million. The said unit is having an installed capacity for manufacture of 100 klpd of Ethanol and is strategically located near JNPT port. The Company has plans to increase the ethanol capacity of this unit from 100 klpd to 250 klpd, in the near future.

2. The Company has set up a wholly owned subsidiary viz. Shree Renuka Biofuels Holdings FZE in Sharjah International Free Zone (SAIF Zone) for its overseas investments.