28th September 2023: Modi Naturals Ltd. (MNL), through its wholly-owned subsidiary Modi Biotech Private Limited (MBPL), is pleased to announce the inauguration of its state-of-the-art ethanol distillery in Raipur, Chhattisgarh Today. The prestigious inauguration ceremony was graced by the presence of Shri Anil Modi, CMD of the company, Shri Vijay Gupta, MD Beekay Engineering and Shri Sudhir Halwasiya, Shri Alok Garg, Mrs Aditi Modi and Mr Akshay Modi, Managing Director of MNL.
The Ethanol Plant, an initiative of MNL’s subsidiary, MBPL, represents a significant stride towards a sustainable future. With a state-of-the-art distillery boasting a robust production capacity of 210 KLD (thousand litres per day) and a 5.5 MW cogeneration power plant, this facility is poised to profoundly impact the biofuel landscape. The facility is planned to operate at 130 KLD in the first phase, with a capex of Rs 150 cr with debt of Rs. 100cr.
Commenting on the commercialisation of the plant, Mr. Akshay Modi, Director of Modi Naturals Ltd., said, “The commissioning of our Ethanol Plant represents an important moment in India’s drive for sustainable biofuels. Modi Biotech is committed to influencing the nation’s energy future. Biofuel is certainly the key to India’s automotive sector. Our Ethanol facility demonstrates our commitment to sustainability, energy security, environmental responsibility, and increasing farm income simultaneously at the same time. Furthermore, it has enabled us to diversify our company portfolios and build a green-field unit with significant growth potential.”
The Central Government provided MBPL in-principle approval for ethanol production, emphasising its connection with the Ethanol Blended Petrol (EBP) programme, which is led by India’s visionary Prime Minister, Shri Narendra Modi. In tandem, an MOU with the Chhattisgarh government strengthens the commitment to this transformative project. Moreover, the industry tender period operates from November to October.
With the government’s constant backing and programmes like the EBP programme, the Indian biofuel sector is set for a rapid expansion. According to the International Energy Agency (IEA), India will overtake the United States and Brazil as the world’s third-largest ethanol market by 2026. This dramatic growth highlights the critical significance of initiatives like MBPL’s Ethanol Plant in ensuring India’s energy security, lowering carbon emissions, and establishing a sustainable future.
Modi Biotech Private Limited (MBPL) and its parent firm, Modi Naturals Ltd., have a strong legacy of managing numerous enterprises and projects spanning four decades. To ensure the BioTech Plant’s smooth construction and commissioning, MBPL worked with industry specialists such as consultants, plant suppliers, and an experienced in-house staff.