Two new distilleries will be set up in Uttar Pradesh after a decision was taken at a meeting of the Board of Triveni Engineering and Industries. One distillery to be set at Muzaffarnagar will have the capacity of 40 KL per day (KLPD), while the one at Rampur’s Milaknarayanpur will have a capacity of 160 KLPD. The Muzaffarnagar distillery will be grain-based, while the one at Milaknarayanpur will be cane juice and syrup, molasses and grain-based. The decision was taken at a meeting of the board held on Wednesday, February 3.
As reported by Capital Market, once the distilleries set up, the total distillation capacity will increase to 520 KLPD at the cost of Rs 250 crore. Before setting up these two new distilleries, the board required statutory clearances.
Currently, Triveni Engineering and Industries holds approval for bottling potable alcohol of the capacity 52.8 lakh litres on an annual basis. They will be achieving this level of manufacturing in a phased manner. Towards the end of the current quarter, it has started manufacturing country liquor at the bottling facility which is available at its existing Muzaffarnagar distillery.
Triveni Engineering and Industries have a vertical named Alcoholic Beverages, which is a part of its Distillery operating segment.
At the National Stock Exchange, the shares of the company were last trading at Rs 75.80. It opened at Rs 75.50, while the previous closing was at Rs 71.90.
The distillery is a part of the Triveni Group which, apart from having a distillery business, also manufactures sugars at the subsidiary Triveni Sugars Limited and hand sanitisers. Triveni Group also provides solutions for water and wastewater management. The group also includes Triveni Defence Business Group.
Triveni Engineering and Industries Limited was established in 1932 as Ganga Sugar Corporation Limited. On February 6, 1933, the company was given a certificate of commencement of business.