Linetrust provides US$ 93 million financing to Kamuna Sugar

Jakarta (Antara) — India definitely is bracing itself for sweeter times as the economy is gearing up for hyperdrive under Mr.Narendra Modi’s leadership. And with the BJP leadership back in the reckoning in India’s largest state and under the stewardship of a non-challant almost ordinary looking superman Shri.Yogi Adityanath, Indiais looking for better times.

When, Mr.PRADEEP KUMAR ASTHANA, Ex Army Officer and Managing Director, KAMUNA SUGAR LIMITED went to meet the Chief Minister Shri.Yogiji, as he is fondly called and was appraised of the problems of the electrical transformer being 11Kms away from the sugar factory. All it took was a phone call to the Divisional Engineer to rectify the problem. A new transformer has been approved bang opposite the sugar plant. This kind of efficiency has hitherto never been seen or heard in Uttar Pradesh. This definitely sparks of some real sweet and great times ahead for the largest state in India.

Kamuna Sugar Limited, a sugar manufacturing company with current crushing capacity of 5000 TCD in India’s largest sugar producing state Uttar Pradesh seems to be getting a sweet deal from two sources. Its currently signing an agreement to avail US$ 93 Mn as long term asset backed debt from Linetrust International Offshore Limited of the UK backed by a close ended trust fund from the UK. Ms.Seeme Mukhtar, Director, Linetrust responsible for the BRIC Economies, says, The dawn of a new era in the Indian economic scenario is being witnessed and the whole worldis watching this awesome transformation. India along withthe other BRIC nations stand to change the world dynamics. We at linetrust will walk the talk in the Make in India campaign launched by Mr.Modi. In the first of its endeavours, Kamuna Sugar could well be one of the leaders in the Indian Sugarcrushing space.

Speaking at the felicitation ceremony held at the The Royal Kitchen, Jakarta, Indonesia on the 5th of April, Director of Jethwa International, Mr.Amit Jethwa & Ms.Daxaben Parmar, the guarantors to the debt syndication say, The next big growth story is India under the aegis of Shri.Narendra Modiji and the likes of the new age leaders like Shri.Yogi Adityanath. The sugar industry which is reeling under the control regime will be seeing good things. GST now being a

reality will only help the sugar sector. Hopefully companies will be able to benefit from the remonitisation drives conducted by the government which should funnel higher margins and higher revenues. For their untiring efforts the duo are being proposed for induction into the linetrust board as directors and members. The proposal for acceptance is already being tabled in the half yearlyAGM.

Mr.Asthana says, Our biggest impediment has always been power and low cost finance. With the government helping us with a power transmission hurdle and linetrust aiding us with the Low cost financing the company’s growth prospects in the long run looks extremely good. CAPEX expansion will help the company’s production and thus increase the revenue margins. We will be able to compete better with bigger companies due to the lower cost of production. Mr.Asthana is an extremely professional person with work ethos and ethics mimicking the best CEO’s and Directors across the globe comes out as a simpleton and almost down to earth person. His philanthropic deeds has lit many homes in Uttar Pradesh.

Mr.Timothy Clark, Director for Linetrust says, It’s our endeavor to be able to participate in the economic growth of the New Age superpower India and help corporates promote the Make In India concept mantra started by Mr.Modi. Mr.Sundeep VN Singhania, Director, EquityDebt Consultants, the visionary and the pillar of strength for Kamuna and the man responsible for the association between Kamuna and Linetrust says, We shall strive hard to be of assistance to the ever growing Indian corporate growth story. We as an institution value our associations with Indian companies and would like to contribute to the overall growth of the Indian Economy by providing better sugar at cheaper prices. Our expertise in the sugar business will help in providing value added solutions for Sugar Industry in the long run.

Ms.Mary Mam along with Mr.Manoj Todi shareholders and directors, ASEAN debt fund market operating out of Jakarta, Indonesia have been working tirelessly to build the Indonesian debt market. Linetrust has plans to help funnel financial assistances to mid and large corporates in Indonesia as these will help improve the current economic scenario in developing countries like

Indonesia enabling their manufacturing and infrastructure sectors which are fighting increasing interest costs and rising raw material prices affecting their toplines and bottomlines.

Source: Antara News