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HomeDistillery ProjectsSamridhi Organic Pvt Ltd to invest Rs 600 cr in ethanol production

Samridhi Organic Pvt Ltd to invest Rs 600 cr in ethanol production

In the two-day investor conference held in New Delhi which concluded on Saturday, many companies have expressed their willingness to invest in Jharkhand. Vinay Tripathi of New Samridhi Organic Private Limited said that his company is going to invest Rs 600 crore in a joint venture with Gas Authority of India Limited (GAIL) to produce ethanol in the State.

Tripathi expressed his desire in the question-and-answer session held with Chief Minister Hemant Soren. In this sequence, he needs a No Objection Certificate (NOC) from the State Government so that a joint venture with GAIL took place. Industry Secretary, Puja Singhal said that for this, he will meet the Director of Industries and take immediate initiative.

Siddharth Kanodia of Vibrant Spirit Private Limited has expressed his desire to set up an ethanol plant in Ranchi. Kanodia said there is a problem with the land. The Industries Secretary said that an industrial park is coming up in Ranchi, which will be marked for the ethanol plant and 50 per cent discount will be given in this. There is a provision of subsidy up to 10 crores in the ethanol plant, she added. Shivnarayan Jaiswal Private Limited has proposed to set up 36 KLPD Ethanol Manufacturing Distillery in Ranchi.

Dr Muzaffar expressed his willingness to invest in the pharmaceutical park. Ajay Virmani of Health Cube India Private Limited has expressed his willingness to invest in surgical items. Development Commissioner, Arun Singh said that there is also a need for surgical items in Jharkhand and such companies will be given exemption under the pharmaceutical policy. Sugna Food proposed to set up a hatchery, feed plant in Bokaro.

Priya Bhalla of Supreme Smart Power Limited has expressed her desire to invest in e-vehicles. Singhal said that the Chief Minister was informed about the e-vehicle policy for three hours on Friday. “We are giving a 30 per cent subsidy on the investment of e-vehicle. Additional five percent subsidies will be given to women entrepreneurs. There is also an exemption in stamp and registration. Six percent interest subsidy will also be given. If the policy is invested within two years, then an additional five percent subsidy will be given,” she added.

The above news was originally posted on www.dailypioneer.com

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