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*JVL Agro Industries Ltd.* is negotiating with a Singapore based plantation company for a majority stake. The size and the exact stake are not known. The deal is expected to be finalized in 3 months. The target has a 20,000 acre palm oil plantation in Indonesia, allotted by the Indonesian Government. Transaction Note JVL is principally engaged in the manufacture of vanaspati and refined edible oil. JVL Agro markets vanaspati ghee, refined soyabean oil and mustard oil under the ‘*Jhoola*’ brand. The company imports crude edible oil, while on the other hand, it exports de-oiled cakes to markets in South-East Asia. JVL Agro is in the process of setting up another Rs.125 crore plant at the Haldia port in West Bengal for which the land acquisition is done. Debt for the project has been syndicated by *State Bank of India *(SBI) from six banks. Work on the plant is expected to begin next month. JVL aims to expand its total installed capacity to 9,56,000 tpa by end of 2010. This acquisition will provide captive source of input for this plant. JVL has also entered into deals to import crude palm oil and soya bean oil directly from plantation owners in Malaysia, Indonesia, Argentina and Brazil. The company has recently acquired a sick fertiliser company in Bihar, thus foraying into the fertiliser segment. It has also acquired 260 acres of land bank as part of the deal. The company has proposed real estate development of 333 acres in Varanasi, and plans to develop this into a multi-services SEZ. JVL commissioned a 3-mw agrobased captive turbine in FY07, which has helped it to reduce power costs. The company has applied for sale of carbon credits from the same. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
