Indian agribusiness to chloro-vinyl company DCM Shriram Ltd. is aiming to secure $35 million from U.S. financial services company International Finance Corp. (IFC).
The company is raising the funds to support its $86.1 million capital expenditure plan to extend its sugar production, co-generation plant and distillery unit in Uttar Pradesh.
DCM's brownfield extension at its existing sugar plant at Hariawan in Uttar Pradesh involves crushing an incremental 5,000 tonnes of cane per day.
The project will also include installation of a 30 megawatts cogeneration power plant using bagasse as fuel in Hariawan and an extension of its distillery capacity in Ajbapur.