GMR Industries, the agri business arm of GMR group, on June 3, said that it has decided to buy Alagawadi Bireshwar Sugars Pvt Ltd, which holds a licence to open and operate a 3,500 TCD sugar mill at Raibagh in Karnataka. The company said that it has lined up Rs 450 crore for the acquisition and expansion of the sugar company. In all, the company has earmarked a capital expenditure of Rs 800 crore in the next three years for various expansion projects. The company will have a total sugar capacity of 11,000 tcd (tonnes crushed per day) and cogeneration capacity of 46 MW by March 2009. While the 3,500 tcd sugar complex in Haliyal is ready, the 2,500-tcd cooperative sugar plant it took on lease in Ramdurg will begin production in the forthcoming sugar season.
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