Gulshan Polyols Limited has informed that Oil Marketing Companies (OMCs) has announced an additional incentive of Rs. 5.79 per litre on Ethanol sourced from Maize for the balance supply period of ESY 2023-24. The said incentive amount shall be applicable for the balance period of the current ESY on all vendor’s invoices billed on or after 5th January, 2024.

Gulshan Polyols also informed that OMCs have taken a uniform policy decision for Ethanol Supplier Companies and in this regard has revised and extended time lines starts from January 15, 2024 to September 30, 2024 for commissioning of dedicated ethanol plant of 250 KLPD at Industrial Growth Centre, Matia, District Goalpara and commencement of commercial supply of Ethanol to OMCs under Ethanol Blending Petroleum Program to meet target of ethanol blending of 20% by the year 2025-26.

The same has been claimed by the company by submitting a firm commitment and undertaking in the form of notarized Affidavit and the same has been executed today on 5th January, 2024.