Godavari Biorefineries To Invest Rs 130 Crore To Boost Ethanol Production
The investment will be made in a new corn or grain-based distillery, which will have a capacity of 200 kilolitres per day, according to Godavari Biorefineries.
Godavari Biorefineries Ltd. on Monday said that it would be investing Rs 130 crore to augment ethanol production.
The investment is to be in a corn or grain-based distillery to bolster its ethanol production capabilities further, according to a statement from the company.
The new corn or grain-based distillery will have a capacity of 200 kilolitres per day, which is expected to enhance operational flexibility, the company said.
The new facility is to be commissioned by March 2026, and the capital expenditure will be funded through internal accruals and debt.
Samir Somaiya, the company's chairman and managing director, said the new capacity will add to the existing sugarcane-based operations.
"This will give us a dual-feedstock capability and will ensure more resilient ethanol production, even during climate-related disruptions, and position us to meet the growing demand under India's ethanol blending programme," he added.
The new facility will offer operational fungibility, enabling the use of alternative feedstocks such as maize to mitigate disruptions caused by factors like poor monsoons and policy changes, the statement said.
Shares of Godavari Biorefineries closed 0.79% higher at Rs 358.75 apiece on the NSE, compared to a 0.06% decrease in the benchmark Nifty 50.
(With inputs from PTI)
