Satnam Overseas Limited (SOL) will set up a rice milling and processing plant in the UK. | |
| The investment in the project is estimated to £4-5 million. SOL is exploring new markets in Asia, especially China, Malaysia and Thailand, and aims to extend its reach in the mainstream global basmati market. |
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| SOL plans to launch ready-to-eat packed food like 'paranthas', cooking sauces and curry pastes in India and overseas besides pushing its core product, branded basmati rice. |
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| SOL established a foothold in the Australian market after its basmati was accepted by the supermarket chain Coles. |
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| The FMCG company Tiger Brands of South Africa started marketing SOL's 'Kohinoor Heat & Eat' products recently. |
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| The Malaysian Airlines in-flight catering business and Pizza Hut emerged as new buyers as well. |
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| SOL launched its products last year in countries like Syria, Canada, Zambia and Hungary in addition to Singapore. |
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| SOL's total branded sales in the financial year 2003-04 was Rs 185 crore, up from Rs 133 crore the year before. |
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| Its share in the domestic basmati market was 35 per cent, up 3 per cent from the year before. It aims to increase share to 38 per cent in 2004-05. |
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| SOL has raised the limit of investment in the paid-up capital of the company by foreign institutional investors, non-resident Indians and overseas commercial borrowingsx to 51 per cent from the existing 24 per cent. |
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