By: ICN Bureau
Last updated : June 29, 2021 7:21 am
The Bhagalpur facility will have an initial installed capacity of 60 KLPD to expand its operations in the organic chemicals business
Vikas Lifecare Limited has announced completion of registration process under the 'Ethanol Production Promotion Policy 2021' of Bihar Government which supplements the 'National Biofuels Policy 2018' of the Government of lndia for setting up ethanol manufacturing unit in Bhagalpur, Bihar.
The Bhagalpur facility will have an initial installed capacity of 60 KLPD (Kilo Litre Per Day) to expand its operations in the organic chemicals business.
ln order to encourage sustainable and alternative fuels and atso to cut lndia's dependence on fossiI fuels, Bihar has announced "Ethanol Production Promotion Policy 2021 which aims to achieve an overall growth and development of greenfield ethanol manufacturing industries in the state.
The policy is specifically devised towards promoting, encouraging, and supporting ethanol production units. The policy by way of offering multi facet support Like subsidies on land acquisition, capital investment, finance facility, interest subvention, special tax rates atong with tax rebates and refunds.
Commenting on the development, Vijay Kumar Sharma, CEO, Vikas Lifecare Limited said, "Production of ethanol falls in line with the team's experience with manufacturing of organic chemicals. The company is glad to have kick-started the process by submitting the requisites for registration under the Bihar Government scheme for establishing a greenfield project to produce 65 KLPD of ethanol to start with."
"We intend to expand the capacity eventually by adding on production tines, though we have provided for the expansion white chalking out the land acquisition plan," added Sharma.