Mawana Sugars to install incinerator at Rs 40 cr

Mawana Sugars

The Board of Directors of Mawana Sugars Ltd, at its recent meeting, gave nod to a proposal for investment of Rs 40 crore for installation of incinerator at distillery plant, Nanglamal Sugar Complex, Nanglamal, Meerut.

In a communication to the BSE, the company also said its board decided to explore the possibility of disposing of its operating chemical manufacturing unit Siel Chemical Complex (SCC) located at Rajpura, Distt. Patiala, Punjab in order to ensure long term financial stability of the company.

The group was incorporated by Lala Shriram (grandfather of Siddharth Shriram) in 1889. Over the next 100 years, the group expanded into textiles, chemicals, sugar, automobiles, engines, rayons / nylon tyre cord, automotive components, edible oils, heavy chemicals (fertilizers/ chlor caustic), engineering foundries, sewing machines, fans, home appliances and other kind of items.

Siddharth Shriram Group is one of India’s renowned business groups with interests as diverse as sugar, edible oils and industrial chemicals to fans, appliances and automobiles.

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Author: Research Desk