Nayara Energy invests Rs 600 Crore in Ethanol Plants, Supporting India's 20% Blending Target

14 May 2024

Nayara Energy plans to invest Rs 600 crore in the establishment of two ethanol production facilities in Andhra Pradesh and Madhya Pradesh, each with a daily capacity of 200 thousand litres. This investment is in line with the Government of India's target of 20% ethanol blending by the financial year 2025-2026.

The company has acquired land in two states for proposed plants, an important step in its strategy to further integrate into the energy sector and improve the reliability of its ethanol supplies.

"The establishment of ethanol facilities will significantly enhance Nayara Energy's ethanol supply reliability, playing a pivotal role in achieving the Indian government's 20% blending target by the end of fiscal year 2025-2026," stated Alessandro des Dorides, Chief Executive Officer of Nayara Energy. "This strategic move into ethanol manufacturing underscores our commitment to sustainability, regulatory compliance, and long-term growth in the dynamic energy sector. Through expanding our presence in the ethanol segment, we aim to actively contribute to India's renewable energy goals and foster a greener future," it added.