Parrys Sugars Refineries, an SPV floated by EID Parry (India) Ltd and Cargill International, is expected to commence work on its six-lakh tpa export-oriented sugar refinery by January 2008. The plant will be located at Kakinada Port in Andhra Pradesh.
The sugar refinery will be a processing operation, importing the entire raw material, raw sugar, adding value by refining it, and exporting its produce. Raw sugar will be imported from Brazil, South Africa, Thailand etc., while refined sugar will be exported to several countries including those in South Asia and the EU. The project will have an integrated cogeneration system to take care of its steam and power requirements. It will also include a 35-mw power unit. The PPA is yet to be signed.
Thermax Ltd is supplying the boiler and Bhel, Hyderabad, the gas turbine. Fichtner Consultant Engineering, Chennai, is the consultant for the power plant. Epro Consultant, Germany, is the consultant for the sugar plant. The project is scheduled for completion by August 2008.
EID Parry will hold 51 per cent and Cargill 49 per cent in the joint venture, which is being structured as an EOU.