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Forever Global Enterprises acquires Dhampur Bio Organics' Meerganj facility for INR 305 crores, marking entry into Uttar Pradesh's sugar sector
Forever Global Enterprises Limited has acquired Dhampur Bio Organics' Meerganj unit for INR 305 crores. This strategic move integrates a 9,000 TCD sugar mill and a 23 MW cogeneration plant, paving the way for a 200 KLPD grain-based and 100 KLPD molasses-based distillery. The expansion, with a total investment of INR 760 crores, aims to boost regional employment and farmer prosperity in western Uttar Pradesh, solidifying FGEL's sugar-to-spirits platform.
Dwarikesh Sugar, Dhampur Sugar and other sugar stocks gain up to 4% after excise duty cut on ethanol-blended petrol
Sugar stocks rose sharply on Thursday after the Finance Ministry exempted several ethanol-blended petrol variants from excise duty, strengthening the outlook for India's ethanol blending programme. Investors cheered the move as it is expected to boost ethanol demand, improve earnings visibility for sugar companies, and support long-term sector growth.