Kaveri (Karnataka): Many companies in India are keen to set up ethanol units, in various states, as it is a profit-making enterprise because of lucrative payments by Oil Marketing Companies (OMCs) which procures ethanol. Due to various friendly policies formulated by the Indian government, ethanol production is booming in the country.
Karnataka government is also working to raise ethanol blending in petrol to lower the dependence on crude oil imports. The state government is promoting ethanol production by providing facilities as well as subsidies.
Speaking after inaugurating 3,000 KLPD Ethanol and Sugar factory of VIN Distilleries and Sugars Private Limited at Konanakeri village in Shiggaon taluk of Haveri district here on Sunday, Chief Minister Basavaraj Bommai said ethanol factories are in demand and to establish them the government is giving the subsidy at 6 per cent interest and financial assistance.
“Two ethanol factories are functioning in Sankur and Hirekerur in the Haveri district and some more will come up. The government will give permission to start the factories as it will help in the betterment of farmers, jobs for the local people and the revenue for the government,” he said.
Stating that biofuel will be in demand in the next 50 years, the Chief Minister said that the economy, environment and energy are interwoven and economic prosperity could be seen by maintaining a balance among these factors.
“Power needs to be generated for economic growth as well as the environment must be protected. Biofuel has been given a lot of importance. The establishment of ethanol factories started during the tenure of Atal Behari Vajpayee as the Prime Minister and a 10 per cent target set for 2024 has been achieved in the current year,” Bommai said.
“It has been decided to add 25 per cent by 2025 and this will cut 20 per cent of oil import. It will not only reduce the economic burden but also helps in manufacturing clean fuel. This is the work of a leader with vision. All these occurred after the NDA government led by Modi came to power in the Centre,” he added.
(With inputs from ANI)
