Dalmia Bharat Sugar Approves Tanzania Sugar Project, New UAE Subsidiary

Dalmia Bharat Sugar and Industries Ltd's Board of Directors has approved a significant project in Tanzania involving sugarcane plantation and a 3500 TCD sugar manufacturing unit with a 20 MW co-gen facility, through its subsidiary Eagle Agrotech Tanzania Limited (EATL). The estimated project cost is US$132 Million. The company will also make an additional investment of up to US$19.70 Million in Eagle Agrotech Holdings Limited (EAHL), its subsidiary, to fund its 51% equity contribution. Furthermore, a wholly-owned subsidiary will be incorporated in the UAE to manage foreign investments, with an initial investment of US$1000. The Board also approved the appointment of Shri Lokendra Singh Lamba as Unit Head for the Jawaharpur Unit.