spot_img
27 C
Lucknow
Thursday, June 30, 2022
spot_imgspot_img

Govt encourages setting up of ethanol plants; provides moratorium, lower interest

In a bid to increase ethanol production in the country, the central government is offering incentives to entrepreneurs to set up ethanol plants in any part of the country without any red tapes. The central government on Monday announced that entrepreneurs and project proponents can freely set up ethanol plans in India without seeking any formal approval from the government of India after getting necessary clearances from the state and Ministry of Environment Forest and Climate Change (MoEF&CC)/State Pollution Control Boards (SPCBs) and other local bodies.

The central government is also incentivising the setting up of ethanol plants in India by providing lower interest rates and up to one year moratorium. The Department of Food and Public Distribution (DFPD) is implementing schemes, under which “interest subvention @ 6% p.a. or 50% of the interest charged by the banks whichever is lower, for 5 years including 1 year moratorium period.”

Wikimedia Commons

The government noted that it does not set up ethanol plants on its own anywhere in the country, however, it is encouraging setting up of the plants by private sector.

BPCL plans ethanol plant in Telangana

Bharat Petroleum Corporation Ltd (BPCL) has evinced interest in setting up a first generation ethanol production plant in Telangana, at an investment of Rs 1,000 crore.

Ethanol plantBPCL plans Ethanol plant in Telangana with Rs.1,000 crore investmentIANS

A high-powered team of the public sector company called on Telangana’s Principal Secretary, Industries & Commerce, Jayesh Ranjan, expressed interest in setting up the plant with a capacity of 5 lakh litres per day.

This will not only facilitate the production of first generation ethanol and contribute revenue to the state, but will also generate huge direct and indirect employment in the state. This project will also go a long way in reducing air pollution. The delegation told the official that for setting up the project, they need about 100 acres of land having proximity to source of water as the plant requires about 4,000 KL day of water for its regular operations.

Promotion

The above news was originally posted on www.ibtimes.co.in

Related Articles

Stay Connected

22,907FansLike
3,372FollowersFollow
19,800SubscribersSubscribe
- LATEST ISSUE -spot_img

Latest Articles

%d bloggers like this: