Shree Renuka Sugars (SRSL) has obtained a five-year Rs 175 crore (SGD 31 million) transition finance facility from DBS Bank, in order to support India's push to double the country's ethanol distillation capacity and blend 20% of ethanol in petrol by 2025.
The proceeds will be used to finance the expansion of SRSL's sustainable bioethanol business in India. This is believed to be the first transition loan to be provided by a foreign bank to India's biofuel manufacturing industry. SRSL's focus on the capacity expansion of its bioethanol plants in India supports its commitment towards promoting sustainable growth and combating climate change.
Shree Renuka Sugars is a fully integrated player focused on manufacturing and marketing of sugar, power and ethanol.
