Simbhaoli Sugars (SSL), one of the country’s largest sugar refiners, may hive-off its power business into a separate entity - Simbhaoli Power, a wholly owned subsidiary of the company. The board of directors of the company will meet on July 15, 2011 to consider the proposal and transact the business.
Earlier in March this year, the company had announced that it would be hiving off of its Simbhaoli Distillery mainly comprising of its potable alcohol (IMFL) business and Power Businesses to new subsidiary companies. These new companies shall be wholly owned subsidiaries of SSL and will chalk out their own growth plans.
SSL has three sugar plants (Simbhaoli and Brijnathpur, Western UP and Chilwaria, Eastern UP) with a combined, crushing capacity of 20,100 TCD. It is capable of producing a wide range of world-class sugars i.e. white crystal refined sugar, pharmaceutical grade sugar, EU grade sugar (foe exports), superfine sugars, sugar cubes and candy sugar.
