Almondz Global Securities has announced the start of construction of a new manufacturing plant in Odisha by the joint venture company, Premier Green Innovations.

The plant located in Sambalpur district has a capacity of 200 KLPD.

This will be in addition to the existing capacity of 285 KLPD at Sansarpur, Himachal Pradesh.

The total project cost is estimated to be Rs 280 crore being funded by way of term loan of Rs 210 crore, and promoters equity of Rs 70 crore.

The company has commenced the construction after the financial closure by the bank.

Almondz Global Securities holds 43.88 percent of Premier Green Innovations (earlier Premier Alcobev) through its wholly-owned subsidiary.