Anil Products plans capacity expansion

Ahmedabad: Ahmedabad-based Anil Products Ltd (APL), one of the leading starch manufacturers, has firmed up plans to infuse around Rs. 10 to Rs. 12 crore for its capacity expansion. The investment will be made over the next two years.

As part of its target to achieve Rs. 50 crore exports of modified starch by 2009-10, APL today announced that it would expand the manufacturing capacity for modified starch. The capacity expansion will support APL's export thrust and also help meet the growing demand for modified starch in the Indian market, said Amol Sheth, Managing Director, APL.

'The demand for modified starch is growing rapidly. With more capacity for modified starch coming on stream, APL will be well positioned to capitalise on and monetise the emerging opportunities. A wide range of modified starch products and strong R&D capabilities enable us meet the requirements of a diverse range of customers.

Our efforts to establish presence in the international markets for modified starches have started yielding results as we have been able to establish our competitiveness against international players in terms of quality and price. We expect to close 2008-09 with exports of Rs 25 crore, a four fold increase from Rs 6 crore of exports in 2007-08,' he added.

APL aims to export modified starch to Middle East, Europe and South East Asia. The company expects to close the fiscal 2008-09 with total revenues of Rs 300 crore. It is targeting revenue of Rs. 375 crore in 2009-2010 with about 13.5% of it (Rs 50 crore) coming from exports.