Ethanol producers propose to invest Rs 3,000 crore
13 September 2021
Madhya Pradesh government is preparing to unveil an ethanol policy to attract ethanol manufacturers to the state. At least 18 investors have proposed to invest Rs 3000 crore in the state.
In the past six months, 18 potential investors have seen land parcels across different locations in the state to set up ethanol plants. Some of the destinations being preferred by investors for setting up manufacturing units are Jabalpur, Satna, Chhindwara, Vidisha, Balaghat, Nemawar, and Dhamnod.
Industrial policy and investment promotion department principal secretary and Madhya Pradesh Industrial Development Corporation (MPIDC) chairman Sanjay Kumar Shukla said, "We have received 18 applications from investors seriously looking for suitable destinations in the state to set up ethanol plants. They will invest in around Rs 3,000 crore in the state. As Centre has set a target of 20% ethanol blending with petrol by 2025, many industries are now looking to set up facilities."
Shukla said the state government will soon unveil an ethanol policy for which the draft is ready to lure investment from ethanol plants. The draft of the policy will be presented to chief minister Shivraj Singh Chouhan.
"The new ethanol policy will offer exemptions and subsidies to investors on mandi tax and stamp duty. There will also be a production linked incentive to give an impetus to industries coming to MP," he added.