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Vikas Lifecare announces completion of registration process under Ethanol Production Promotion Policy 2021

Vikas Lifecare Limited has announced the completion of registration process under the Ethanol Production Promotion Policy 2021, of Bihar State Government, which supplements the “National Biofuels Policy 2018” of the Government of lndia for setting up “Ethanol” Manufacturing Unit in strategic location in district Bhagatpur, Bihar with initial installed capacity of 60KL per-day, to expand its operations in the organic chemicals business.

‘National Biofuels Policy 2018’

Promotion

lndia has a long-standing Ethanot blending program (to the conventional fossil fuels – Petrol and Diesel). The “National Biofuels Policy, 2O18” mandates to blend 5% Ethanol to Diesel and up to 20% Ethanol in Petrol by 2030.

Around 2 billion litres of ethanol is currentty consumed across lndia and in several union territories, where the program has been implemented on ground by the oil marketing companies (OMCs) with 3,400 outlets in seven states offer 85 diesel.

‘Ethanol Production Promotion Policy 2021’

ln order to encourage susiainable and alternate fuels and also to cut lndia’s dependence on fossiI fuels the state of Bihar announced “Ethanol Production Promotion Policy 2021” aims to achieve an overall growth and development of Green Field Ethanol Manufacturing lndustries in the State.

The Ethanol Production Promotion Poticy of Government of Bihar, Department of lndustries is specifically devised towards promoting, encouraging, and supporting Ethanol Production units. The policy by way of offering multi facet support Like Subsidies on Land Acquisition, Capitat lnvestment, Finance Facility, lnterest Subvention, Special Tax Rates atong with Tax Rebates and Refunds.

Ethanol is being Looked at as a major contributor towards the Fossil Fuel Replacement, reducing lndia’s dependence on lmports and strengthening the Economy through Forex Savings and Generating Business Opportunity and Emptoyment in the projects established to produce Alternate Fuels.

Vijay Kumar Sharma, CEO of the Company commented on the occasion “Production of Ethanol falls in line with the teams experience with manufacturing of Organic Chemicals. The company is glad to have kick-started the process with submitting the requisites for registration under the Bihar Government scheme for establishing a Green Field project to produce 65KL Per Day of Ethanol to start with.”

“We intend to expand the capacity eventually by adding on production lines, though we have provided for the expansion while chalking out the Land Acquisition plan.” He added.

The above news was originally posted on www.indiainfoline.com

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