Kolkata, May 15 -- GRM Overseas Limited, India's third largest basmati rice exporter to the world and second largest to the Middle East, today announced the acquisition of a manufacturing facility at Gandhidham, Kutch, Gujarat.
This acquisition is in line with GRM's strategic plan to expand capacity and develop a warehouse closer to the Mundra Port to augment exports, it said in a statement to UNI here.
The deal is valued at Rs 12 crores and has been funded through a combination of bank borrowings and internal accruals. The acquired facility includes land, building and two sortex plants and has a production capacity of 800 MT per day. The company has also purchased a large plot of land adjoining to the plant to develop a warehouse.