Modi Naturals Ltd. inaugurated its ethanol distillery in Raipur, Chhattisgarh, through its subsidiary, Modi Biotech Private Limited (MBPL). The distillery has a production capacity of 210 thousand liters per day (KLD) and a 5.5 MW cogeneration power plant.
In its initial phase, the facility will operate at 130 KLD, with a capital expenditure of ₹150 crore and a debt of ₹100 crore.
Backed by government initiatives like the EBP program, India’s biofuel sector is poised for substantial growth. The International Energy Agency (IEA) predicts India’s ascent to the world’s third-largest ethanol market by 2026, surpassing the US and Brazil. This surge underscores the pivotal role of projects like MBPL’s Ethanol Plant in fortifying India’s energy security and forging a sustainable future.
However, the shares were down by 1.90 per cent to ₹309 at 1.50 pm on the BSE.