Jagatjit Industries to set up 200 KLPD grain based Ethanol Plant in Punjab; Stock jumps 4%

25 Jul 2022 , 10:18 AM

The Board of Directors of Jagatjit Industries Limited at their meeting held on July 22, 2022, have approved the proposal for setting up 200 KLPD Grain based Ethanol Distillery Plant at Hamira, Distt. Kapurthala, Punjab.

Accordingly, the capacity will be added within 12 months from the date of in-principle approval from the concerned Ministry and sanction of loan.

The estimated investment required is for the project is Rs200 crore and Rs185 crore will be financed from Banks – Project Loans and Rs15 crore from internal sources.

Inspired by the Prime Minister’s program of achieving higher ethanol blending coupled with recently announced higher Ethanol prices, the Company has planed to set up its 200 KLPD Grain based Distillery Plant at its Hamira Unit in Punjab.

At around 10:21 AM, Jagatjit Industries was trading at Rs61.20 per share up by Rs2.5 or 4.26% from its previous closing of Rs58.70 per share on the BSE.