Praj Industries on Monday said it has bagged an order to set up a syrup-based ethanol plant from Godavari Biorefineries in Karnataka.
As a part of this project, Praj will expand the existing ethanol manufacturing capacity of Godavari Biorefineries from 400 KLPD (kilo litre per day) to 600 KLPD, using sugarcane syrup, Praj Industries said in a regulatory filing.
Praj Industries said, when commissioned, this will become India's largest capacity syrup-based ethanol plant.
The company, however, did not share financial details of the order received.
Samir Somaiya, Chairman and Managing Director of Godavari Biorefineries said, “Responding to the government's vision of Atmanirbhar Bharat, we decided to divert sugar cane syrup to distillery to manufacture Ethanol... Praj will design, engineer, supply, install and increase our capacity from 400 KLPD to 600 KLPD ethanol production using sugar syrup as raw material".
Shares of Praj Industries were trading 4.64 per cent lower at ₹194 on BSE.