MUMBAI: Godavari Biorefineries on Monday announced a Rs 130-crore investment to enhance ethanol production. The investment will be in a corn/grain-based distillery to further strengthen its ethanol production capabilities, the company said in a statement.
The Rs 130 crore investment will be done in a new 200 KLPD corn/grain-based distillery to add to its existing operations, enhancing flexibility through dual-feedstock capability, it said.
The new facility will be commissioned by March 2026, the statement said, adding that the capital expenditure will be financed through internal accruals and debt.
Samir Somaiya, its chairman and managing director, said the new capacity will complement the existing sugarcane-based operations.
“This will give us a dual-feedstock capability and will ensure more resilient ethanol production, even during climate-related disruptions, and position us to meet the growing demand under India’s ethanol blending programme,” he added.
The new facility will offer operational fungibility, enabling the use of alternative feedstocks such as maize to mitigate disruptions caused by factors like poor monsoons and policy changes, the statement said.
The company’s scrip closed 0.63 per cent higher at Rs 358.10 apiece on the BSE.