DCM Shriram to raise $35 mn from IFC to support $86 mn capex plan

The company proposes to expand sugar capacity and ramp up co-generation plant and distillery unit in UP

DCM Shriram Limited plans to raise $35 million from IFC to support its $86.1 million capital expenditure plan to expand sugar production, co-generation plant and distillery unit in Uttar Pradesh.

IFC's proposed investment consists of an A-loan of $35 million by way of an external commercial borrowing (ECB), said IFC.     

DCM's main business lines include agribusiness (fertilisers, seeds, sugar and trading of farm inputs) and Chloro-Vinyl (caustic soda, chlorine & polyvinyl chloride, or PVC).   

The company's brownfield expansion at its existing sugar plant at Hariawan in Uttar Pradesh involves crushing an incremental 5,000 tonnes of cane per day. Installation of