SME Times News Bureau | 14 Oct, 2013
The Kyndal Group
will set up new malt distillery and bonded warehouse in Scotland with an
estimated investment of 6.7 million pounds ($10.7 million), the company's
managing director, Siddharth Banerji, said Friday.
The plant will be operational by 2015. It will have the production capacity of
4 million litre.
"We are hopeful to begin the commercial production by 2015, however,
initially the volume will be low. By 2020 the project will be running on full
capacity,” Banerji said at a media briefing here.
Kyndal Group has signed a joint venture agreement with John Fergus & Co
Ltd, promoted by Ian Palmer, to set-up the plant. Planning permission for the 7
hectare (17 acres) site was approved in January 2013.
Banerji said the project will focus on exporting to markets in India, Africa and the Far
East. It is expected to create 15 new jobs and is likely to
generate new exports worth ?33.6m from Scotland over the next three years.
Addressing the media briefing Scotland's
Minister for External Affairs and International Development Humza Yousaf, who
is on a visit to New Delhi,
said the Scottish government will provide all necessary support for the
"This project has proved yet again that there are strong and positive
economic reasons for setting up business in Scotland. It is also another reason
to celebrate our strong relationship with the Indian business community and an
example of why we should seek out more collaborations," Yousaf said.