Dalmia Bharat Sugar Approves $132M Tanzania Sugar Unit & $19.7M EAHL Investment

Dalmia Bharat Sugar and Industries Ltd's Board of Directors has approved a significant expansion project in Tanzania, involving the establishment of a 3500 TCD sugar manufacturing unit with a 20 MW co-generation facility. The project, to be executed through Eagle Agrotech Tanzania Limited (EATL), a subsidiary of Eagle Agrotech Holdings Limited (EAHL), has an estimated cost of US$132 million. Additionally, the company will invest up to US$19.70 million in EAHL, supplementing the previously approved US$3 million, to fund its 51% equity contribution. The board also approved the incorporation of a wholly-owned subsidiary in the UAE to manage foreign investments and appointed Shri Lokendra Singh Lamba as Unit Head for the Jawaharpur Unit.