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25-May2018

Triveni Engineering to incorporate wholly owned subsidiary

Triveni Engineering & Industries has received an approval to incorporate wholly owned subsidiary as a Special Purpose Vehicle (SPV) for implementation of a project/order for about Rs 438 crore awarded by the Yamuna Pollution Control Unit, U.P. Jal Nigam, Agra (UJN) to the company for 'Development of Sewage Treatment Plants and Associated Infrastructure on Hybrid Annuity PPP Basis at Mathura, Uttar Pradesh' under the Namami Gange Programme, in terms of the Letter of Award issued by the UJN. The Board of Directors of the company at its meeting held on May 24, 2018, approved the same.

The Board has also given an approval for setting up a molasses based 160 KLPD distillery at one of the sugar units of the company situated at Sabitgarh, District Bulandshahr, Uttar Pradesh, subject to receipt of necessary statutory clearances, and putting up an incineration boiler at the existing distillery at Muzaffarnagar, Uttar Pradesh, raising total distillation capacity to 320 KLPD at a total cost of about Rs 200 crore and advised to identify expansion in other businesses and augment financial resources by way of debts and internal accruals including monetization of unutilized financial/other assets.

Triveni Engineering & Industries is engaged in the business of manufacturing sugar, steam turbines and projects and engineering activities.


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