Govt gives in-principle approval to nine ethanol blending projects
- IBEF
- February 20, 2023
Government has given in-principle approval to nine more ethanol projects under its ethanol interest subvention scheme. These projects are expected to add to the additional capacity of about 35 crore litres.
Out of these nine projects, five projects are grain-based and three projects are molasses-based and one project is based on dual feedstock.
These projects have the potential to bring an investment of about US$ 124.9 million (Rs. 1,034 crores) and will create hundreds of employment opportunities in their respective locations, official sources said.
Under the new window of the ethanol interest subvention scheme since April 22, 2022, 299 projects with an expected capacity of about 1,481 crore litres have been granted in-principle approvals.
The government is extending financial assistance in the form of interest subvention at 6% per annum or 50% of the rate of interest charged by banks, whichever is lower, on the loans to be extended by banks for five years, including a one-year moratorium.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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