Mawana Sugars to sell chemical Biz

A month after Kanoria Chemicals sold its chloro chemicals business to Aditya Birla Group for Rs 830 crore, Siddharth Shriram-controlled Mawana Sugars has initiated the process for selling its chemical business. The proceeds would be used to bring down the company's debt, currently at Rs 470 crore, to below Rs 200 crore.