Nashik's co-op sugar factory plans captive power plant
Tushar Pawar / Mumbai/ Nashik Mar 02, 2009, 00:33 IST
Nashik-based Vasantdada Patil Co-op Sugar Factory (VPCSF) is planning to set up a captive power generation plant based on the agro-waste from sugarcane crushing in the factory with 17 MW capacity at an investment of around Rs. 74 crore.
This proposed power plant, which will be set up at a factory’s own land in Kalwan tehsil of Nashik district, is expected to be operational by March 2010.
The power plant will have 17 mw power generation capacity. Out of which, the co-op sugar factory will use 5 mw for itself (for the factory), while it will sell rest of the 12 mw power to Maharashtra State Electricity Distribution Co. Ltd (MSEDCL).
The ‘bhumipujan’ of this proposed power plant was performed recently here.
“The project is estimated to cost at Rs. 74 crore. VPCSF will invest five per cent of the project cost i.e Rs. 3.71 crore, while it will raise Rs. 24.68 crore through loan from Govt of India’s Sugar Development Fund at 4 per cent interest rate and Rs. 42 crore loan from Maharashtra State Co-op Bank at 10 per cent interest rate. This project will also receive the grant of Rs. 6.61 crore from Govt of India and 5 per cent grant from the Maharashtra state govt,” said J D Pawar, Chairman, VPCSF.
Moreover, the factory will also spend Rs. 7 crore for modernisation of the factory that will increase its sugarcane crushing capacity to 3,500 metric tonnes, from the present crushing capacity of 2,500 metric tonnes.
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