Jay Shree tea to buy sugar co for Rs 113 cr | business | Hindustan Times
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Jay Shree tea to buy sugar co for Rs 113 cr

City-based Jay Shree Tea and Industries, a BK Birla group company, on Monday said it will acquire unlisted sugar firm MP Chini Industries for Rs 113 crore by the next month.

business Updated: Mar 22, 2010 20:40 IST

City-based Jay Shree Tea and Industries, a BK Birla group company, on Monday said it will acquire unlisted sugar firm MP Chini Industries for Rs 113 crore by the next month.

Jay Shree Tea informed this to the Bombay Stock Exchange (BSE).

MP Chini, with a capacity of 4,600 TCD (tonnes of cane per day) at Majhaulia in Bihar, is having a cogeneration capacity of six megawatt for captive use.

The acquisition cost is being funded through a mix of internal accruals and debts.