By: Pravin Prashant
Last updated : June 26, 2021 9:33 am
The proposed capacity expansion is 430 KLPD for which the company is investing Rs. 450 crore through the borrowing route
Considering the huge untapped demand for ethanol due to the policies of Government of India on ethanol blending, the Board of Directors of Shree Renuka Sugars Limited in its meeting held on 25th June 2021 has approved capacity expansion for ethanol production from 970 KLPD (Kilo Litre Per Day) to 1,400 KLPD.
This is the second expansion that Shree Renuka Sugars Limited is planning in 2021. The proposed capacity expansion is 430 KLPD for which the company is investing Rs. 450 crore through the borrowing route.
The Government of India has mandated 20% ethanol blending in fuel by 2025 against a current blending of 7.79%. Considering this, the company sees a huge untapped demand for ethanol for the ethanol blending program of the Government of India which can be of benefit to the company in the future.
In a meeting held on 9th February 2021, the Board of Directors had approved capacity expansion of ethanol production from 720 KLPD to 970 KLPD. This disclosure is given as per Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable provisions.
Shree Renuka Sugars is a global agribusiness and bio-energy corporation. The company is one of the largest sugar producers in the world, the leading manufacturer of sugar in India, and one of the largest sugar refiners in the world. Shree Renuka Sugars operates eleven mills globally (four in Centre-South Brazil and seven in India) with integrated ethanol and power co-generation capacity. The company also has two large port based sugar refineries in India.