Modi Naturals expands ethanol production capacity with Rs 100 crore investment
Modi Biotech Private Limited (MBPL), a subsidiary of Modi Naturals Ltd., is expanding its biofuel production capacity by adding 180 KLD to its existing 130 KLD, bringing the total capacity to 310 KLD. This expansion, with a Rs.100 crore investment, will help MBPL meet the growing demand for biofuels. The new project is expected to be completed within 8-10 months. Additionally, the company has secured a Rs.300 crore order for 41,600 Kl of ethanol from Oil Manufacturing Companies (OMCs).
Modi Biotech Private Limited (MBPL), a wholly-owned subsidiary of Modi Naturals Limited, is accelerating its growth trajectory with a significant expansion of its production capacity. To achieve this, the company is investing in cutting-edge infrastructure and innovative technology. As part of this expansion, Modi Biotech Private Limited (MBPL) has already placed orders and commenced construction on a new project, which will add a significant 180 KLD to its existing capacity of 130 KLD. Upon completion, MBPL’s total production capacity will increase to 310 KLD, enabling the company to meet the growing demand for biofuels and further solidify its position as a leading player in the industry. This ambitious endeavour comes with a capital expenditure of Rs.100 crores and is slated for completion within 8-10 months.
This development is a testament to Modi Biotech’s commitment to driving growth and innovation in the biofuel sector. The company’s existing 130 KLD grain-based ethanol distillery, accompanied by a 5 MW captive power generation plant, has already established its presence in Raipur, Chhattisgarh. Modi Biotech has received an order of Rs.300 crores for 41,600 Kl of ethanol from various Oil Manufacturing Companies (OMCs).
Akshay Modi, Managing Director, Modi Naturals Ltd. said, “We are committed to driving growth and innovation in the biofuel sector, and this expansion is a significant step towards achieving our goals.”
He further added, “This significant order is a resounding validation of our capabilities and unwavering commitment to delivering high-quality ethanol. We are proud to be contributing to India’s ambitious vision of reducing dependence on fossil fuels and promoting sustainable energy solutions. We are confident that our expanded production capacity will enable us to meet the growing demand for biofuels, while also supporting the government’s initiatives to reduce carbon emissions and promote energy security.”
This significant milestone marks a new chapter in the company’s growth journey, positively impacting its balance sheet and mission to provide sustainable energy solutions. With the government’s push for cleaner energy alternatives and the extension of the ethanol-blended petrol program nationwide, Modi Biotech is well-positioned to capitalize on the growing demand for biofuels. The company’s dedication to innovation and sustainable growth aligns with the nation’s vision of reducing dependence on fossil fuels and lowering carbon emissions.
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Source : Chinimandi
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