Nayara Energy to set up two ethanol plants for ₹600 crore
Russian energy giant Rosneft-backed Nayara Energy is planning to invest ₹600 crore to set up two ethanol manufacturing plants in the country, said a senior company executive.
Each plant will have a production capacity of 200 kilo litres of
ethanol per day. These will be set up in Andhra Pradesh’s Naidupeta and Madhya Pradesh’s Balaghat, and are slated for commissioning by 2026. The company will use broken rice and maize for feedstock. In the long run, the company plans to have five ethanol manufacturing plants.
“We have big plans on the ethanol front. By 2025, we have to blend 20% ethanol, so we have a mission for 100% sourcing. We aim to have at least five ethanol plants in the long term but to start with, we are setting up two,” said Prasad Panicker, executive chairman at Nayara Energy.
