Gujarat Ambuja Exports announced that the commercial operations of first phase of its 1000 MT per day green field Maize processing plant set up at Chalisgaon in Maharashtra has commenced.

This marks the completion of its first phase, comprising of starch and liquid glucose manufacturing facility put up at an estimated cost of Rs 2.60 billion.

With this additional facility, the installed capacity for maize grinding has reached to 3000 MT per day which is the highest capacity in the country.

Commencement of commercial production at the unit is one more step in the direction of establishing Pan India presence of the Company in the promising maize processing sector through which the Company will achieve highest market share in the sector. The second phase of the project to manufacture value added derivative products shall further enhance the market share in the sector along with adding more products into the product portfolio of the Company, once the same is completed.

Shares of the company gained Rs 7.75, or 2.81%, to trade at Rs 283.55. The total volume of shares traded was 14,663 at the BSE (12.46 p.m., Monday).