October 9: Sharda Group and Rathi Group, two prominent business groups of the country, have come together to set up Premier Organics Pvt Ltd, a joint venture company which will manufacture Grain-based Extra Neutral Alcohol (GENA), a key raw material for producing various types of alcoholic drinks like Vodka, Whisky, Rum, Gin etc.

According to a press release, the factory has been established at Duhabi in Sunsari district with an initial investment in excess of Rs 1 billion.

The state of the art plant is slated to manufacture Nepal’s own GENA, which will be sold to alcohol manufacturers in the country.

Displacing import of GENA and making the country self-reliant in it are the other objectives of the company, according to the press release.

Over 500 people are expected to be employed at the company’s factory alone, reads the press statement.