Simbhaoli Sugars ties up with ED&F Man

Simbhaoli Sugars (SSL), one of the country`s largest sugar refiners announced a joint venture arrangement with ED & F Man Holdings (EDFM), to set up a green field sugar refinery with a capacity of 1000 tones of sugar per day, at Kandla, West Coast, Gujarat, India through the joint venture company, Uniworld Sugars (USL).

On this occasion, Gurmit Singh Mann, chairman and managing director (CMD), Simbhaoli Sugars announced that the joint venture shall bring in the expertise of both operational management and international marketing. The refinery is intended to be commenced in current sugar cycle itself, to reap maximum benefits from changing business cycles. The joint venture brings together two of the leading entities in sugar industry and some of the most experienced professionals in the industry.

Shares of the company declined Rs 2.6, or 5.58%, to trade at Rs 44. The total volume of shares traded was 14,432 at the BSE (11.48 a.m., Friday).

source: myiris