Production begins at Dwarikesh Dham plant

Dwarikesh Sugar Industries Ltd has commenced crushing at its Greenfield plant of 7,500 tons per day (TCD) (expandable up to 10,000 TCD) at Faridpur, in District Bareilly, Utter Pradesh. With the commencement of production in this plant, the transformation of the Company from a single sugar mill complex in 1994 to a conglomerate with multiple composite facilities for manufacture of sugar, power and ethanol is complete. The Company now has a combined capacity to crush 21,500 TCD of sugarcane every day. The commencement of crushing in its Faridpur plant is as per schedule.

The year 2006-07 was one of the most difficult years faced by the sugar industry in the Country. While prices of sugar and other by products were on downward spiral, the cost of raw material viz. sugarcane went up significantly. However outlook for the year 2007-08 is better. The Company has already incurred Capital expenditure to put its assets in place and is now poised to reap the benefits. Where as, the cost side is already reflected in numbers, the revenue side is about to unfold.

Mr. Gautam R Morarka, Chairman and Managing Director of the Company said "The commencement of the new Greenfield project is in line with our long term strategy of growth in areas of our core competence. We are now among the leading manufacturers of sugar in the country. Going forward, we should reap the benefits of economies of scale."