Ruchi Soya looking for partner for new bio-diesel plant

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Ruchi Soya looking for partner for new bio-diesel plant

CNBC-TV18 has learnt that Ruchi Soya is in talks with a US-based company to set up a bio-diesel plant.

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CNBC-TV18 has learnt that Ruchi Soya is in talks with a US-based company to set up a bio-diesel plant.

Ruchi Soya is currently a leader in the branded edible oil category with brands like Nutrela Soyumm (Soyabean Oil), Ruchi Gold (Palmoline Oil), Sunrich (Sunflower Oil) and Mandap (Mustard Oil), plans to rope in US based strategic partner for a bio-diesel plant.

It will form a separate company called Ruchi Soya Bio-diesel. This company is likely to be a 51% subsidiary of Ruchi Soya and 49% will be held by the strategic partner.

Reports suggest that the company will start with an investment of Rs 300-400 crore. However the management of the company has declined to comment on any of these developments.

CNBC-TV18 disclaimer: This information has not been provided to the stock exchanges, and is source-based.