Shree Renuka Sugars to ramp up ethanol production with Rs 450cr investment
Shree Renuka Sugars Limited said that its board of directors has sanctioned an INR 450 crore capacity expansion of ethanol production from 970 Kilo Litre Per Day (KLPD) to 1,400 KLPD.
In an earlier board meeting held in February 2021, it was decided that the company will undertake an expansion project to ramp up its ethanol production from 720 KLPD to 970 KLPD.
The latest meeting of the company’s board took the decision of the further expansion based on the huge untapped demand for ethanol because of the policies of the Indian government on ethanol blending.
Shree Renuka Sugars to ramp up ethanol production with Rs 450cr investment. Photo courtesy of Free-Photos from Pixabay.
The Indian government has mandated a 20% blending of ethanol in fuel by 2025 compared to a current blending of 7.79%. Due to this, Shree Renuka Sugars wants to capitalize on the huge untapped demand for ethanol for the ethanol blending program of the Indian government of India.