Dalmia Bharat Sugar Approves Tanzania Sugar Project, US$132M Cost

Dalmia Bharat Sugar and Industries Limited's Board of Directors has approved a significant project in Tanzania involving sugarcane plantation and a sugar manufacturing unit with a co-generation facility. The project, to be executed through Eagle Agrotech Tanzania Limited (EATL), has an estimated cost of US$132 Million. The company also approved an additional investment of up to US$19.70 Million in its subsidiary Eagle Agrotech Holdings Limited (EAHL) for its 51% equity contribution, supplementing the previously approved US$3 Million. 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 appointed Shri Lokendra Singh Lamba as Unit Head for the Jawaharpur Unit.