iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Modi Naturals performs groundbreaking ceremony for greenfield ethanol distillery in Chhattisgarh; Stock hits 5% lower circuit

17 Feb 2022 , 12:00 PM

Modi Naturals Ltd. has recently performed the groundbreaking ceremony (bhumi pujan) of its greenfield ethanol distillery at Raipur in Chhattisgarh.

The company is setting up a state-of-the-art distillery, which has a production capacity of 210 KLD, with a 6MW cogeneration power plant. To set-up this plant, Modi Naturals Ltd. incorporated a 100 percent subsidiary (wholly owned subsidiary) called ‘Modi Biotech Private Limited’ (MBPL).

MBPL has received in-principle approval for a 210 KLD distillery for the manufacture of ethanol from the Central Government, along with signing an MOU with the Chhattisgarh Government for the same. The company has already received environment clearance (EC) for the project from the Ministry of Environment, Forest and Climate change (MoEF&CC).

The investment over the next two years is expected to be approximately Rs250 crore, with the first phase of 110 KLD with an investment of Rs160 crore, to be completed in the third quarter of FY 2022-23.

This project is also in line with the Honourable Prime Minister of India Shri Narendra Modi’s vision & roadmap for the Ethanol Blended Petrol (EBP) program with a target of 20% blending by 2025.

Commenting on this announcement, Akshay Modi, Managing Director, Modi Naturals Ltd. said, “This significant development is a step forward to boost the Ethanol ecosystem of India. With this new ethanol plant, we will be able to counter serious challenges related with vehicle emissions, air-quality improvement, lower consumer fuel prices, use of damaged food grains, increasing farmers’ incomes, employment generation, and greater investment opportunities.”

MBPL and its Parent company have over four decades of experience and talent in managing a wide range of businesses and projects. For the building and commissioning of the ethanol project, the company has taken on board industry experts in the form of consultants, plant suppliers and in-house team.

In the afternoon trade, Modi Naturals was trading at Rs202.40 apiece down by Rs10.65 or 5% on Sensex.

Related Tags

  • ethanol distillery
  • Modi Naturals
  • Modi Naturals Ltd
  • Modi Naturals Ltd acquisition
  • Modi Naturals Ltd announcements
  • Modi Naturals Ltd markets
  • Modi Naturals Ltd news
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Most Read News

BPCL inks MoU with SCI for maritime network
14 Feb 2025|01:56 PM
Sensex and Nifty in Red on February 14, 2025
14 Feb 2025|01:53 PM
Ashok Leyland Q3 Profit Jumps 35% YoY
14 Feb 2025|12:27 PM
Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.