Big step in ethanol production, Grancsspan set up two plants in Gujarat, so hundred crores invested
Central focus ministry GreenSspan Nutrients have invested Rs 520 crore for setting up two grain -based ethanol plants in Ahmedabad by benefiting from the interest subsidy scheme. Now the company is supplying green fuel to add petrol. Both these plants use maize and rice as raw materials (feedstock) and their total capacity is 350 kiloliters per day. The first ethanol plant of Granspan began in May 2023 in Bhamsara village in Ahmedabad. It had a capacity of 110 kiloliters per day and was Gujarat’s first grain -based ethanol plant. After its success, the company has launched a second plant at the same place last month, which costs Rs 360 crore and its capacity is 240 kilolters per day.
Three grain -based ethanol plant in Gujarat
The company supplies ethanol to petroleum marketing companies (OMCs) under the Ethanol Mixing Program (EBP). Manoj Khandelwal, CEO of Granspan Nutrients Private Limited, said that Gujarat has three grain -based ethanol plants, two of which are running Grancsspan. He said that due to the subsidy of the central government, she could become the first company to set up such a plant in the state. He also stated that there is a great possibility of ethanol production in India, which can not only meet the needs of the country but can also be exported. Granspan, who has been working in the field of food products since 2014, stepped into the ethanol business by taking advantage of the interest subsidy scheme a few years ago. This decision helped the company to increase its business, which reached Rs 760 crore in the last financial year.
Expectation of more income
Pankit Shah, Chief Finance Officer (CFO) of Granspan Ingridients Private Limited, said that the company has invested a total of Rs 520 crore in both ethanol plants and is completely operational. He said that the first plant was imposed under the Central Government’s interest subsidy scheme and for this the company had taken a loan of Rs 120 crore. However, the second plant is installed without any interest subsidy. He said that the company will supply about 8 crore liters of ethanol to the petroleum companies (OMCs) at a fixed rate of about Rs 72 per liter in 2024-25 Athanol Supply Year (ESY) running from November to October. This quantity will increase to 12 million liters in the next supply year, which is expected to earn more than Rs 800 crore.
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