Shree Renuka Sugars Ltd has bought the Pune-based KBK Chem-Engineering, which is into ethanol engineering, procurement and construction company, for Rs 35 crore. Additionally, KBK Engineering undertakes turnkey projects for setting up erection and commissioning of ethanol plants. It has a turnover of Rs 85 crore of which 45 per cent comes from overseas projects.
Renuka Sugars has also acquired a 100 klpd (kilio litres per day) distillery from Dhanuka PetroChem in Khopoli, Maharashtra for Rs 6 crore. The distillery can produce ethanol from alcohol. The company has plans to increase its ethanol capacity from 450 klpd to 900 klpd in next two years with an investment of Rs 105 crore. It is also raising co-generation capacity at Havalaon plant in Karnataka from 25 MW to 129 MW at a cost of Rs 90 crore.
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