Triveni Engineering & Industries Limited Approves Setting Up a New Molasses Based 80 KLPD Distillery at Muzaffarnagar, Uttar Pradesh; Adopts New Set of Articles of Association
Triveni Engineering & Industries Limited announced that at the board of directors meeting held on November 2, 2018, consider and approved the proposal for setting up a new molasses based 80 KLPD distillery at Muzaffarnagar, Uttar Pradesh, subject to receipt of necessary statutory clearances, raising total distillation capacity to 400 KLPD (including the new distillery of 160 KLPD at Sabitgarh under execution) at a total cost of about INR 1,220 million.
The board also considered and approved adoption of a new set of articles of association (AOA) of the company in accordance with the provisions of the Companies Act, 2013 in place of, in substitution to, and the entire exclusion of the existing Articles of Association. The alteration of Articles of Association is subject To Approve the shareholders by way of special resolutions.
Triveni Engineering and Industries Limited is an India-based company. It is engaged in diversified businesses, mainly categorized into two segments-sugar and allied businesses and the engineering business. Sugar & allied businesses primarily comprise the manufacture of white crystal sugar and distillation of alcohol. Molasses, a by-product in the manufacturing of sugar, is used as a raw material for producing ethanol and extra neutral alcohol. The engineering business comprises manufacturing of high-speed gear, gearboxes and providing water/wastewater treatment solutions. Its power transmission business is focused on high speed and niche low speed gears and gear boxes covering supply to original equipment manufacturers (OEMs), after-market services and retro fitment of gearboxes, catering to the requirements of the power sector, other industrial segments and defense. It provides engineered-to-order process equipment and comprehensive solutions in water and wastewater management.
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Triveni Engineering & Industries Limited Approves Setting Up a New Molasses Based 80 KLPD Distillery at Muzaffarnagar, Uttar Pradesh; Adopts New Set of Articles of Association
