Shree Renuka Sugars expects to complete expanding its ethanol capacity to 1,250 kilo litres per day (klpd) from 720 klpd in the March quarter, reports The Hindu Business Line.
The company owned by the Singapore-based Wilmar Group is expecting that ethanol will contribute about 40% of its revenue excluding the refinery business.
The demand for ethanol is strong and the industry may divert 4.5-5 million tonnes (mt) of sugar to produce ethanol, said Atul Chaturvedi, Chairman of Shree Renuka Sugars.
The expanded capacity of the company should come into play from the end of this month or early February and start reflecting on its books from the March quarter.
The company is expecting to crush 6.3 million tonnes of sugarcane like last year at its five plants in Karnataka and two plants in Maharashtra, said Chaturvedi.
