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Jay Shree Tea planning to consolidate African operations besides raising production

CFO of Jay Shree Tea R K Ganeriwala said the company has tea estates in Rwanda and Uganda and would make an expenditure of Rs 25 crore for revamping operations there.


PTI 01 Aug 2018, 03:13 PM India

Jay Shree Tea and Industries, a part of the BK Birla group, is planning to consolidate the African operations besides raising production this year.

CFO of Jay Shree Tea R K Ganeriwala said the company has tea estates in Rwanda and Uganda and would make an expenditure of Rs 25 crore for revamping operations there.

The African estates yield a production of 6.59 million kilograms. The funding would be done from internal accruals, he said. The Indian estates' production was 21.91 million kilograms, he said, adding that the target for overall production for the year was 30 million kilograms, Ganeriwala said.

Regarding the sugar business, he said the company would make an investment of Rs 85 crore for setting up an ethanol producing distillery in Bihar, he said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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