Plant represents an important moment in India’s drive for sustainable biofuels, says Akshay Modi
Modi Naturals Ltd (MNL) says its ethanol distillery at Raipur in Chhattisgarh will produce 210 thousand litres per day (KLD) and has a 5.5 MW cogeneration power plant.
The facility, by subsidiary Modi Biotech Private Ltd (MBPL), is to operate at 130 KLD capacity in the first phase, with a capex of Rs.150 crore and debt of Rs.100 crore.
Commenting on the commercialisation of the plant on 28 Sept 2023, Akshay Modi, Managing Director of Modi Naturals Ltd, said, “The commissioning of our Ethanol Plant represents an important moment in India’s drive for sustainable biofuels.
“Modi Biotech is committed to influencing the nation’s energy future. Biofuel is certainly the key to India’s automotive sector. Our Ethanol facility demonstrates our commitment to sustainability, energy security, environmental responsibility, and increasing farm income simultaneously at the same time.
“Furthermore, it has enabled us to diversify our company portfolios and build a green-field unit with significant growth potential.”
The Central Government has provided in-principal approval for ethanol production, emphasising its connection with the Ethanol Blended Petrol (EBP) programme.
In tandem, an MOU with the Chhattisgarh government strengthens the commitment to this transformative project. Moreover, the industry tender period operates from November to October, said MNL.
With the government’s constant backing and programmes like the EBP programme, the Indian biofuel sector is set for a rapid expansion, it added. fiinews.com
