One after another new investment is coming into the ethanol sector. Now, Dwarikesh Sugar Industries Limited has announced to set up 175 KLPD distillery at its Dwarikesh Dham unit in Bareilly. Following which company stocks soared today. To commission this project, the company will invest Rs232 crore.
The existing capacity of the unit is 162.5 KLPD with utilization of approximately 90 per cent. The proposed capacity is to be added in 15 to 16 months.
The company in a filing said, “The announcement is in line with the government’s target of achieving the ethanol production in India.”
In the recent past, many companies had announced capital expenditure for ethanol production.
Recently government had advanced the ethanol blending target from 2030 to 2025. The roadmap for ethanol blending in India 2020-25 was released by Prime Minister Narendra Modi on June 5 this year on the occasion of World Environment Day.
The government believes ethanol distillation capacities in the country would be more than doubled by 2025 and India would be able to achieve a 20 per cent blending target.
