Vishwaraj Sugar Industries Ltd (VSIL) has announced to increase ethanol production capacity by investing Rs 250 crore in the sector, reports Live Mint.
The company stated that the new ethanol plant will be set up in Karnataka that will help in increasing the ethanol production capacity in the next few years.
The company plans to set up a greenfield ethanol production facility, having a capacity of 2.5 lakh litres per day, within 80 km from the existing factory in the Belagavi district.
The company is focusing on high-margin products like ethanol and Pharma grade sugar that will boost the revenue.
India is on track to achieve its set target of 20 per cent ethanol blending as it has achieved the benchmark figure of 8.1% in 2020-21, up from 1.5% in 2013-14.
