This will be in addition to the existing capacity of 297 KLPD.
EID Parry said that the Government of India has announced an Ethanol Blending Progarmrrie of 20% by the year 2025. The Company intends to avail of this opportunity by increasing its foray into Ethanol Production.
"The proposed distillery will utilize sugarcane juice/syrup as its principal feedstock during the cane crushing season and grains like broken rice/maize/bajra during the offseason for the manufacture of ethanol, which is expected to have an assured off-take by the Oil Marketing Companies under a clear pricing mechanism," EID Parry added.
The 120 KLPD capacity addition is expected to complete by November 2022.
The company expects an investment of Rs92.50cr for the proposed capacity addition.
At around 12.07 pm, EID Parry was trading at Rs406.50 per piece up 0.6% on Sensex.