Stalwart Advisors

Capex Announcement & Business Update

Greenfield Capex Announcement
Company has decided to put up a Greenfield plant at Malda, West Bengal for 1,000 tons per day Maize Processing (existing capacity is 3,000 TPD) at an estimated cost of Rs 300 crores. The plant will manufacture Starch, Liquid Glucose and Sorbitol to cater to the requirements of Eastern part of the country and export markets of Bangladesh and South East Asian countries. GAEL has been allotted land admeasuring 66.85 acres at Malda Industrial Growth Centre (Pb—II), District Malda. The project shall be executed within a period of two years from now. With this initiative, the Company shall have manufacturing and marketing presence in North, West, South and East India and will establish it as a truly Pan India manufacturer in maize processing industry.

Update on Chalisgaon Plant
The second phase of Chalisgaon, Maharashtra Maize Processing plant is progressing well and shall be completed in Q4FY19 as per schedule.
The first phase which had started commercial production in March 2018, is now operating at 80% capacity utilisation.


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