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India Procurement News Notice - 82128


Procurement News Notice

PNN 82128
Work Detail Piccadily Agro Industries Ltd (PAIL), the maker of the Indri brand, has unveiled a ?1,000 crore expansion plan that includes a significant brownfield expansion at its distillery and malt facilities in Haryana, a new greenfield distillery in Chhattisgarh, and its first international distillery in Scotland. In September 2024, the company raised ?262 crore through preferential allotment from notable investors, with an additional ?50 crore from its promoters. The remaining funds will be secured through internal accruals and debt. The expansion will be completed over the next 24 months, with the first phase at the Indri plant, which focuses on malt and ethanol production, expected to be finished by early 2025. The capacity at the Indri distillery in Haryana will be ramped up to 250 kilo litres per day (KLPD), including 220 KLPD for ENA/Ethanol production and an increase in malt production from 12 KLPD to 30 KLPD. Additionally, the company plans to expand its warehousing capacity to store over 100,000 barrels. The new greenfield distillery in Mahasamund district, Chhattisgarh, will have a production capacity of 210 KLPD, including 180 KLPD for ENA/Ethanol and 30 KLPD for malt. With 30% of the work already completed, the facility is expected to be operational by Q2 FY26. PAIL also confirmed that it has secured approvals from HM Revenue and Customs (HMRC) to establish its first international distillery in Portavadie, Scotland. The new facility will feature a visitor centre and marks the company’s ambitious move onto the global spirits stage. “We are entering a transformative phase in our growth journey,” said Siddhartha Sharma, Promoter of Piccadily Agro Industries Ltd. “This expansion is not just about scaling up operations, but reshaping the future of premium Indian alco-bev spirits globally. Our expansion in India and Scotland will increase our overall production capacity to 460 KLPD, including 60 KLPD of malt spirits, positioning us to meet growing demand in both Indian and international markets.”
Country India , Southern Asia
Industry Construction
Entry Date 14 Nov 2024
Source https://newsonprojects.com/news/piccadily-agro-industries-unveils-1000-crore-expansion-to-establish-new-distilleries-in-india-and-scotland

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