Shree Renuka Sugars Ltd. plans to capitalise on the Union Cabinet’s approval to hike the procurement price of ethanol.
“We currently manufacture 12 crore litres of ethanol. We intend to increase the capacity by 25-30 percent in the next six to eight months,” said Atul Chaturvedi, executive chairman of Shree Renuka Sugars. “The sugar industry has been angling for a long time for this (price hike) decision.”
India requires 3.3 billion litres of ethanol, he said. That could increase as the government plans to blend 30 percent ethanol in petrol by 2030. “The way forward for the Indian sugar industry is the ethanol way.”
Whatever surplus sugar is available in the whole world, it’s sitting in India. It can be converted into ethanol, a win-win for the farmer and the sugar industry.Atul Chaturvedi, Executive Chairman of Shree Renuka Sugars.
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