Shree Renuka Sugars gets letter of intent to supply ethanol

Shree Renuka Sugars Ltd said it received letter of intent for supply of 118 million litres of ethanol from oil marketing companies.

The company would supply ethanol to Indian Oil Corp Ltd, Hindustan Petroleum Corp Ltd and Bharat Petroleum Corp Ltd in Karnataka, Andhra Pradesh, Kerala, Goa and Maharashtra for one year.

On Wednesday, Shree Renuka Sugars shares ended 0.4% up at Rs86 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.7% to 20,543 points.

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Reliance Infra starts work on Pune-Satara highway

Reliance Infrastructure Ltd, a unit of Anil Dhirubhai Ambani Group, said it started operations of its third road project measuring 140km on the Pune-Satara highway.

Reliance Infra has won the project from National Highway Authority of India. The scope of work includes design, engineering, finance, construction, operation and maintenance for the six-laning of Pune-Satara road in Maharashtra under the National Highways Development Project (NHDP) Phase-V programme.

The company will operate and maintain the existing four-lane road and collect toll thereon. Besides widening the road to a six-lane stretch, it will develop 244km of service road, build 49 grade separated structures, 58 bridges and upgrade two existing toll plazas, at an estimated cost of Rs1,984.8 crore.

The toll points will be refurbished to toll plazas reducing traffic bottlenecks at these points by 80%. The company will also introduce medical, first aid at the toll plazas and patrolling services to provide emergency relief.

On Wednesday, Reliance Infra shares ended 0.6% up at Rs1,120 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.7% to 20,543 points.

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USDA pegs India's sugar output at 23.6 mn tonnes for 2010-11

New Delhi: The US Department of Agriculture (USDA) has pegged India's sugar production at 23.6 million tonnes in the ensuing 2010-11 sugar year, marking an increase of over 26% from last year, reports PTI.


   


India, the world's second biggest producer but largest consumer of sugar, had produced 19 million tonnes of sweetener in 2009-10, it said in its latest report.



Interestingly, the USDA's projection is close to the government's estimate of 24 million tonnes. But the food and agriculture minister had said recently that he would not be surprised if the production goes up to 25 million tonnes this year. Even the sugar industry is estimating total output of sweetener at 25-25.5 million tonnes in the 2010-11 sugar year.



The sugar year runs from October to September.



The USDA and the government's estimate of sugar output in 2010-11 crop year is, however, higher than the domestic demand of 23 million tonnes.



According to USDA projection, India's leading sugar producing state Maharashtra is expected to produce a record 9.5 million tonnes of sugar this year, against 7 million tonnes last year.



Sugar production in Uttar Pradesh, the country's second biggest sugar producing state, may rise to 6.2 million tonnes from 5.18 million tonnes in the review period.



Barring Karnataka, sugar output is seen to rise in almost all sugar producing states like Andhra Pradesh, Bihar, Haryana, Punjab, Gujarat, Tamil Nadu and others.



The sugar output in Karnataka is likely to decline marginally to 2.3 million tonnes this year from 2.53 million tonnes last year.



The US body said that sugar output in Tamil Nadu may jump sharply to 2.1 million tonnes in the 2010-11 crop year from 1.25 million tonnes last year. The output in Gujarat is pegged at 1.3 million tonnes against 1.19 million tonnes last year.



It further said that India's sugar import may lower at one million tonnes on expected improved domestic supplies and lower domestic prices.


 

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