Modi Naturals is all set to establish an Ethanol Plant in the state of Chhattisgarh. For this project the company has incorporated a 100 percent subsidiary (wholly owned subsidiary) called ‘Modi Biotech’ (MBPL). MBPL has received an in-principle approval for a 210 KLD distillery for the manufacture of ethanol from the Central Government, along with signing an MOU with the Chhattisgarh Government for the same.
The investment over the next two years is expected to be around Rs 250 crore, with the first phase of 110 KLD being completed within a year with an investment of Rs 160 crore. The project will be funded with a combination of internal accruals and debt for which the company has already received the in principle approval from its banks. The company has already purchased land for the project and is in the process of ordering plant and machinery, and aims to commission the plant in the third quarter of the next financial year FY22-23.
Modi Naturals manufactures de-oiled cakes, rice barn oils, other oils, and ice at Pilibhit in Uttar Pradesh and Sangrur in Punjab.
| Company Name | CMP |
|---|---|
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