Jagatjit Industries Ltd plans to invest Rs 210 crore to set up a grain-based ethanol plant in Punjab to ride on the tide of rising demand for green fuel, said a top company official, reports The Times of India.
The company set up in 1944 is involved in the liquor business and manufactures Indian Made Foreign Liquor (IMFL) and country liquor in the country.
Roshini Sanah Jaiswal, Promoter and Chief Restructuring Officer of the company said, “A greenfield grain-based ethanol manufacturing unit with 200-kilo litres per day (200 KLPD) capacity will be set up at Hamira, Kapurthala district in Punjab. The total project cost is around Rs 210 crore.
The funds will be generated through bank loans and internal accruals,”.
The company has received environmental clearance and obtained a license from the Ministry of Forest and Environment for the project. The plant would be set up on 25 acres of land and would become operational in June 2024.
