Ethanol project: Balmer Lawrie is in process of acquiring 25 acres in Andhra Pradesh
Balmer Lawrie & Company aims to achieve a revenue of Rs 6,000 crore by 2030 and is hiring a consultant to develop a growth strategy. Currently generating Rs 2,400 crore, the company is expanding into ethanol production with a new 200 KLPD plant in Andhra Pradesh, utilizing rice and maize as feedstock. The project, costing approximately Rs 339 crore, will be funded through internal accruals and debt. This move aligns with the Government of India’s biofuels initiative.
Diversified public sector undertaking Balmer Lawrie & Company is targeting a revenue of Rs 6,000 crore by 2030. To achieve this goal, the company is in the process of hiring a consultant to develop a comprehensive growth strategy, according to a senior official on Friday.
Balmer Lawrie operates in various sectors, including grease and lubricants, industrial packaging, logistics, and travel and vacations (T&V), and currently generates revenue of Rs 2,400 crore.
“We aim to reach a revenue of Rs 6,000 crore by 2030 and are seeking a consultant to assist us in this endeavor,” said Balmer Lawrie CMD Adhip Nath Palchaudhuri.
As per news report by PTI, the company is venturing into ethanol production and is in the process of acquiring 25 acres in Andhra Pradesh. The feedstock for ethanol production will include rice and maize.
During a board meeting on February 8, 2024, Balmer Lawrie’s Board of Directors approved the establishment of a 200 KLPD first-generation grain-based ethanol plant in Andhra Pradesh. The project will involve an investment of approximately Rs 339 crore, which will be funded by mix of internal accruals and debt.
This new project will enable Balmer Lawrie to enter the growing biofuels sector and align with one of the key strategic initiatives of the Government of India.
Sourec Link : https://www.chinimandi.com/ethanol-project-balmer-lawrie-is-in-process-of-acquiring-25-acres-in-andhra-pradesh/
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