Exclusive Interview: Maheshwari Carbon enters ethanol sector, to set new distillery plant in Jharkhand
In a telephonic interview Mr. Nitin Mundhra, Director of Maheshwari Carbons Private Limited Biginfo got to know about the firm's venture into ethanol sector. Mr Mundhra informed that the firm would set a grain based distillery plant in Jharkhand's Nawadih.
The project would be set up at an investment of around Rs 60 to 70 crore. As per Mr. Mundhra the project would be set up in 3 acres of the total 8 acres of land area that firm has. The firm would invest 25% of the total amount cost of the project and rest of the funduing would come from bank loan.
A tripartite agreement would be signed with IOCL (Indian Oil Corportaion) and SBI (State Bank of India) by the firm. Maheshwari Carbon is tapping on to the shortgae of ethanol and its incrasing demand in the market. The decison to make this investment is backed by the positive attitude of government for ethanol blending and the buyout option it provides to the producer of ethanol.
Mr. Mundhra was optimistic about the future prospects of the project as it supports the cleaner fuel initiative of the governmnet.