ENA Sectors 2024-05-15 15:34:20 <p><span style="font-size:14px"><strong>New Delhi, May 15 (KNN)</strong> Nayara Energy, India's largest private fuel network operator, has announced plans to invest Rs 1,200 crore in setting up two ethanol manufacturing plants in Andhra Pradesh and Madhya Pradesh.</span></p> <p><span style="font-size:14px">Each plant will have a capacity of 200 KLPD (kilo liters per day). This move aligns with the Government of India's target of achieving a 20 per cent ethanol blending rate in petrol by the end of fiscal year 2025-2026. </span></p> <p><span style="font-size:14px">The company has already identified and acquired land in both states for the proposed ethanol facilities.</span></p> <p><span style="font-size:14px"> The establishment of these ethanol plants will significantly enhance our ethanol supply reliability, playing a crucial role in meeting the Indian government's blending target, said Alessandro des Dorides, Chief Executive Officer of Nayara Energy, reported Hindu.</span></p> <p><span style="font-size:14px">He added, This strategic move into ethanol manufacturing highlights our dedication to sustainability, regulatory compliance, and long-term growth in the dynamic energy sector. </span></p> <p><span style="font-size:14px">By expanding our presence in the ethanol segment, we aim to actively contribute to India's renewable energy goals and fostering a greener future. </span></p> <p><span style="font-size:14px">The investment in ethanol production marks a significant step towards achieving downward integration within the energy sector for Nayara Energy. </span></p> <p><span style="font-size:14px">It demonstrates the company's commitment to sustainable practices and aligning with the nation's push for cleaner fuels.</span></p> <p><span style="font-size:14px">Ethanol, a biofuel derived from agricultural feedstocks such as sugarcane and grains, is blended with petrol to reduce vehicular emissions and dependence on fossil fuels. </span></p> <p><span style="font-size:14px">The Indian government has set an ambitious target of 20 per cent ethanol blending in petrol by 2025 to promote energy security, reduce oil imports, and mitigate environmental impact.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 37820 https://knnindia.co.in/news/newsdetails/sectors/nayara-energy-to-invest-rs-1200-crore-in-ethanol-plants 2024-05-15 15:34:20 knnindia.co.in