8MARCH 2024TOP STORIESMOTHER DAIRY TO ESTABLISH ADDITIONAL PLANTS CATERING TO RISING CONSUMER DEMANDMother Dairy, a prominent milk supplier in Delhi-NCR, is gearing up for expansion to meet the rising consumer demand by investing Rs 650 crore to set up two new plants for processing milk, fruits, and vegetables. Additionally, the company plans to invest Rs 100 crore to expand the capacities of its existing plants.The investment aims to enhance Mother Dairy's distribution and reach to consumers across key locations. One of the major projects includes setting up a large dairy plant in Nagpur, Maharashtra, with an investment of approximately Rs 525 crore. This greenfield plant will have a processing capacity of 6 lakh litres of milk per day, expandable up to 10 lakh litres per day, catering to markets in central and southern regions.Furthermore, Mother Dairy plans to commission a new fruit processing plant in Karnataka under its Safal brand, with an investment exceeding Rs 125 crore. These new plants are expected to be operational within the next two years.In addition to these greenfield projects, the company is also strengthening its capacities in existing facilities with an investment of around Rs 100 crore. Mother Dairy currently operates nine company-owned processing plants for dairy and four plants for horticulture (fruits and vegetables). It also collaborates with third-party facilities for processing.Despite facing challenges such as subdued summer season and deflation in the edible oil sector, Mother Dairy aims to achieve a moderate growth rate of around 7-8 percent in volume terms for the fiscal year 2023-24. The company's turnover for the fiscal year 2022-23 stood at around Rs 14,500 crore. REC ARM & BHEL JOIN HANDS FOR RENEWABLE ENERGY PROJECTSREC Power Development and Consultancy and BHEL have reached an initial agreement to establish a special purpose vehicle (SPV) to build utility-scale renewable energy projects. Utility-scale renewable energy projects are those that have a capacity of 10 megawatts or more.REC Power Development and Consultancy (RECPDCL) is a completely owned subsidiary of the state-owned company REC According to the announcement, the SPV will benefit from BHEL's core engineering knowledge as well as REC's infrastructure investment expertise. It will focus on meeting the energy needs of the commercial and industrial (C&I) segment, with an initial capacity of 1 GW that would be scaled further."This collaboration brings together our extensive experience in the renewable energy sector with BHEL's proven expertise in manufacturing and engineering. This SPV will play a crucial role in achieving India's ambitious renewable energy targets and contribute to a cleaner and greener future," REC Chairman and Managing Director Vivek Kumar Dewangan said.BHEL Chairman and MD Koppu Sadashiv Murthy stated that there are numerous potential in the RE market for both enterprises to leverage their combined expertise to meet the government's green targets.RECPDCL provides expert and value-added advisory services to power utilities across the country, including 41 Power Distribution Companies (Discoms) and four cooperative societies in 27 Indian states.
< Page 7 | Page 9 >