Gulshan Polyols Limited, a multi-location and multi-product manufacturing company with global presence in 35 countries, across 3 continents, is planning to commence its 500 KLPD Ethanol facility at Borgaon, Madhya Pradesh from Q4 FY23. 

 

Gulshan Polyols Limited had a total sanction of Rs. 170 crore from HSBC for the construction of 500 KLPD facility at Borgaon, Madhya Pradesh, of which Rs. 120 crore has been availed/utilized till September 30, 2022. 

 

The company features three main business segments namely - Grain processing, ethanol (biofuel)/distillery, and mineral processing. Gulshan is amongst one of the market leaders in manufacturing sorbitol, precipitated calcium carbonate (PCC), and wet ground calcium carbonate (WGCC). The company is planning to expand its footprints in the distillery segment and has embarked on a significant Capex plan for manufacturing ethanol. 

 

The company shall augment operations from the 500 KLPD facility at Borgaon, Madhya Pradesh and is further adding another 250 KLPD in Assam where the operations shall commence by FY25.

 

Commenting on the performance of Q2 FY23, the management team said, "In the Ethanol (BioFuel)/Distillery segment, we would like to emphasize that our Capex plan for establishing a 500 KLPD ethanol facility in Madhya Pradesh is progressing well and a loan of Rs. 120 crore has been disbursed from HSBC as of 30th September 2022. The plant's operations are expected to begin in Q4 FY23 which will establish us as a dominant player in grain-based ethanol and support the current 60 KLPD facility which continues to operate at more than 100% capacity utilization. The developments at Assam plant are also progressing as planned."