India will meet its target of 10% ethanol blending with petrol this year and reach 20% by 2030, according to Vijay Banka of Dwarikesh Sugar Industries Ltd.
"We are already 9.45% and in the next year, blending percentage can go to at least 12%,” Banka told BloombergQuint's Niraj Shah in an interview.
The Indian government has targets for scaling up blending. That's prompted sugar companies to ramp up capacity.
Banka said while sugar companies are increasing storage capacities, the sugar industry is working with oil marketing companies, the food and petroleum ministry to achieve the blending targets.
Dwarikesh Sugar plans to set up a 175 kilolitre a day distillery at its Dwarikesh Dham unit, which will take it to 1,000 crore litres of ethanol blending by 2025.
Watch the full interview here:
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