10 billion dollars investment to be made in setting up ethanol plants: Dharmendra Pradhan

511

New Delhi: After government hiked the ethanol prices to boost the ethanol production in India, sugar mills in India are eyeing to invest in increasing ethanol production capacity. Minister for Petroleum & Natural Gas and Steel, Dharmendra Pradhan, expects more investment in the ethanol industry in India. He participated in the 2nd Annual India Leadership Summit of the US-India Strategic Partnership Forum on Friday, where he stressed on ethanol’s future in the country.

Addressing the issues of ethanol and bio-energy, Pradhan said, “From less than 1 per cent ethanol blending in 2015, we have increased our EBP to 6 per cent. We are working on hiking the percentage even further. Bioenergy is also being pushed in a big way with the Government’s focus on ways to monetise the 600MT of non-fossilised biomass available in the country.”

“10 billion dollars investment is to be made in setting up ethanol plants in the country. The US can collaborate with us through the deployment of its technological innovations and capital resources in India and become a partner in India’s bio-fuel revolution,” he further added.

Recently, the government increased the ethanol price from C heavy molasses from Rs.43.46 per litre to Rs.43.75 per litre, and the price of ethanol from B heavy molasses hiked from Rs.52.43 per litre to Rs.54.27 per litre. Price of ethanol from sugarcane juice/sugar/sugar syrup route was fixed at 59.48 per litre.

Sugar mills in the India are saddled with sugar glut. Therefore, the government want sugar mills to focus on Ethanol production in a bid to improve financial health. The Central government has the vision to achieve 20 per cent ethanol blending with petrol by 2030 and is moving in the same direction.

To Listen to this News click on the play button.

LEAVE A REPLY

Please enter your comment!
Please enter your name here