Patna: Bihar’s Industries minister Syed Shahnawaz Hussain has urged Union Petroleum minister Hardeep Singh Puri to help the state government in removing the obstacles for setting up ethanol plants.
According to the news report published in The Times of India, Shahnawaz Hussain during a meeting with Hardeep Singh Puri informed him that the Bihar government has received proposals worth Rs 30,382.15 crore for setting up ethanol plants. However, for the want of a tripartite agreement, banks have not been forthcoming in financing the projects.
He said, “Companies could be fast in setting up ethanol units if the Union Petroleum ministry intervenes and tripartite agreement for 7-years among oil marketing companies, banks and ethanol units for 100 per cent buy-back of ethanol is executed.”
Bihar is the first state in the country that has announced the ethanol production policy. The state is promoting ethanol production with an aim to become one of the leading ethanol producers in the country.
To receive ChiniMandi updates on WhatsApp, please click on the link below.
WhatsApp Group Link
