NSL Group is diversified business group with presence across various sectors like Seeds, Cotton, Power, Textiles, Sugars and infrastructure. Mr. Mandava Prabhakar Rao is the Chairman of the Group. Flagship Company, Nuziveedu Seeds Private Limited is the largest seed company in India. Buoyed by the tremendous success in seeds business, NSL Group has widened its reach and diversified into other agro-based and allied industries.
In February this year, NSL Sugars Limited an associate company of NSL Group announced commencement of generation of 28MW Cogen power plant and Ethanol Plant. The plant consists of 3500 Tonnes crushing per day (TCD) sugar unit besides 28 MW Cogen power plant and 45 Kilo liters per day (KLPD) capacity Fuel Grade Ethanol plant.
Since, early last month ,NSL Power Limited, part of the NSL (Nuziveedu Seeds Limited) Group,had said that they were looking at raising a Rs 250-crore private equity (PE) fund to fuel its thermal and renewable energy capacity expansion, said chairman and managing director M Prabhakar Rao.
According to reports, NSL Sugars Ltd, which is in process of achieving financial closure for expansion plans for its Aland unit (Karnataka), today said it is set to raise Rs 288 crore debt from various banks.
NSL Sugars, which entered into an MoU with the Karnataka government in March last year to revive the ailing Aland Cooperative Sugar Factory at Bhusnur village in Aland taluka on lease, rehabilitate, operate and transfer (LROT) basis, will be investing Rs 96 crore as equity, NSL Chairman and Managing Director Mr M Prabhakar Rao said.
As per the MoU, NSL Sugars has been given the freedom to expand the present crushing capacity of 1,250 tonnes a day to 2,500 tonnes a day.
NSL Sugars has also been asked to set up a 15-MW co-generation power plant and establish 30 kilolitre per day (KLPD) distillery and ethanol unit within five years from the date of signing of the lease agreement. The factory has been leased out to NSL Sugars for 30 years for Rs 75 crore.
“The milestone was achieved when Central Bank of India lead-arranger, syndicated the entire debt component of Rs 288.51 crore. The project is to be financed on a 3:1 debt-equity ratio, and is estimated to cost around Rs 384.68 crore,” Mr Prabhakar Rao told PTI.