New Delhi: Spirits marketer Radico Khaitan has entered into a tripartite joint venture with NV Distillers and Ridhi Sidhi Pvt Ltd to set up a greenfield distillery in Aurangabad (Maharashtra) with a combined investment of Rs160 crore.
The JV Radico NV Distilleries Maharashtra Ltd, in which Radico will have 36% stake, would manufacture ENA (Extra Neutralised Alcohol), IMFL(Indian Made Foreign Liquor)and Ethanol. It will also have a bottling facility.
This will be Radico’s second distillery after its Rampur facility in Uttar Pradesh, and with a capacity of 36 million litres per annum, it will be the largest distillery in Maharashtra, it said.
“We will fund the project by debt and internal resources. We have large facilities for distillation in Uttar Pradesh. Having facilities in another state balances the geographic spread as both the states together produce 80% of sugarcane in India,” Radico Khaitan’s CMD Lalit Khaitan said.