Wednesday, December 4, 2024
HomeSugar Industry NewsShree Renuka Sugars investing Rs. 450 crore to raise ethanol capacity

Shree Renuka Sugars investing Rs. 450 crore to raise ethanol capacity

Shree Renuka Sugars will invest ₹450 crore to expand its ethanol capacity, the company said on Saturday.

In a regulatory filing, the company informed that its board has approved expanding production capacity by 430-kilo litre per day to 1,400-kilo litre per day.

In February, the board had approved a capacity expansion of ethanol from 720-kilo litre per day to 970-kilo litre per day.

“Considering the huge untapped demand for ethanol due to the policies of Government of India on ethanol blending, the Board of Directors of the company approved further capacity expansion for ethanol production from 970-kilo litre per day to 1,400-kilo litre per day,” the filing said.

The investment required for this capacity expansion is ₹450 crore, it said. The capacity addition would be completed by October 2022.

“The government of India has mandated 20% ethanol blending in fuel by 2025 against a current blending of 7.79%. Considering this, the company sees a huge untapped demand for ethanol for the ethanol blending programme of the Government of India which can be of benefit to the company in the future,” Renuka Sugars said.

The company is one of the leading sugar companies in India.

Source link

Sugar Times Team
Sugar Times Teamhttps://www.sugartimes.co.in
The Sugar Times Editorial Team is a group of experienced journalists, analysts, and industry experts dedicated to providing in-depth coverage and insights on the global sugar industry. With years of experience in agriculture, trade, sustainability, and market trends, the team brings a wealth of knowledge and expertise to every article they produce.Focused on delivering accurate, timely, and relevant news, the Sugar Times Editorial Team aims to keep industry professionals, stakeholders, and enthusiasts informed on key developments in sugar production, trade policies, innovations, and sustainable practices. Their collective goal is to help readers navigate the complexities of the sugar sector and stay ahead of emerging trends shaping the future of the industry.You may submit your article on info@sugartimes.co.in if you have valuable contributions for the industry readers.
RELATED ARTICLES
- Advertisment -spot_img

Most Popular

WP2Social Auto Publish Powered By : XYZScripts.com