INDIA: DCM Shriram approves US$43.8 million investment to expand ethanol production
Published: 08/02/2018, 4:01:22 PM
The Board of Directors of DCM Shriram Ltd has in its meeting held on July 31, 2018 approved the investment of INR3 billion (US$43.8 million), to be financed through internal generations and debts, to set up a 200,000 litre per day distillery at Ajbapur, instead of expansion of a 100,000 litre per day at Hariawan which was approved by the Board in November 2017, according to India's Equity Bulls.
Currently, the Company has 150,000 litre per day distillery at Hariawan. The total capacity of the Company's distilleries shall increase from 150,000 to 350,000 litres per day.
The project is planned to be commissioned by October 2019. The project will utilize expected higher molasses availability for production of ethanol or related products.