Balmer Lawrie to invest Rs 330 crore for ethanol production
Balmer Lawrie & Company has unveiled a Rs 700 crore capital expenditure plan to achieve a revenue target of Rs 6,000 crore by 2030. Chairman Adhip Nath Palchaudhuri announced plans to diversify into ethanol production with Rs 330 crore investment, establish a Free Trade Warehousing Zone in Mumbai with Rs 220 crore, and upgrade logistics facilities. The company also aims to expand in third-party logistics and industrial packaging.
Diversified public sector undertaking Balmer Lawrie & Company has announced a capital expenditure plan of Rs 700 crore with the goal of reaching a revenue of Rs 6,000 crore by 2030.
Chairman and Managing Director Adhip Nath Palchaudhuri shared that the company intends to diversify into ethanol production, establish a free trade warehousing zone (FTWZ) in Mumbai, and upgrade existing facilities. The board has approved the capital expenditure of Rs 700 crore.
Based in Kolkata, Balmer Lawrie is also looking to enter the third-party logistics sector for businesses seeking storage solutions, according to the CMD.
Palchaudhuri detailed that Rs 330 crore will be invested in producing ethanol from rice and maize, while Rs 220 crore will be allocated for the FTWZ, which is akin to a special economic zone (SEZ). An additional Rs 45 crore will be spent on creating a third-party logistics hub in Dankuni, West Bengal.
He emphasized that the company aims to achieve Rs 6,000 crore in revenue by 2030, noting that this target is attainable due to its strong position in areas like industrial packaging, along with substantial growth potential in sectors such as grease, lubricants, travel, and logistics.
Source Link : https://www.chinimandi.com/balmer-lawrie-to-invest-rs-330-crore-for-ethanol-production/
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