Nitin Gadkari unveils major plan for India’s ethanol blending programme: Check which companies will benefit
Union Minister for Road Transport and Highways Nitin Gadkari has said that bio-ethanol can also be a sustainable fuel for aviation purpose as it can provide 80% savings on greenhouse gas emissions and can be blended up to 50% with conventional jet fuels without any modification.
In a major development for the aviation as well as sugar industries, Union Minister for Road Transport and Highways Nitin Gadkari has said that bio-ethanol can also be a sustainable fuel for aviation purpose as it can provide 80% savings on greenhouse gas emissions and can be blended up to 50% with conventional jet fuels without any modification.
See Zee Business Live TV Streaming Below:
Addressing ‘Indian Sugar Mills Association (ISMA)’ Conference on ‘Alternative fuel- Road ahead’ on Tuesday, he further said that mixing of bio-ethanol with aviation fuel has already been tested and approved by the Indian air force. Nitin Gadkari also unveiled some important initiatives related to sugar industry in the country.
Against this backdrop, Zeebiz analyses the impact of some of these initiatives announced by the minister during the conference.
- The Union Government is planning to have a technological tie up with Brazil to conduct research how to increase ethanol blending in aviation fuels up to 50%.
- The minister also emphasized the increased use of flex-fuel vehicles. According to him, the rollout of flex-fuel vehicles on 100% bio-ethanol, the demand for ethanol will immediately jump by 4 to 5 times. Flex-Fuel vehicles are those which can run on up to 100% ethanol.
- According to experts, there is no need for technological change in vehicles up to 13% of ethanol blending. Currently, up to 10% of ethanol blended fuels are sold in the market. By 2025, it will reach up to 20% under the latest E-20 fuel programme.
- The minister also said that the government will try to take current Rs 20,000 crore ethanol economy to Rs 2 lakh core.
- This positive news related to ethanol blending programme will not only benefit the sugar industry but also other related companies like Praj Industries which is engaged in ethanol production related technologies, India Glycol, Shree Renuka Sugars, and Balrampur Chini.
- Shree Renuka Sugars Ltd’s is expected emerge as a major ethanol player as it has plans to increase the production from the current 24 crore liter per annum to 33 crore litre in FY23. Similary, Balrampur Chini has plans to increase the production from the existing 18 crore litre to 30 crore liter in FY23.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Top 7 SIP Mutual Funds in 1 Year: What Rs 10,000, Rs 15,000, and Rs 20,000 SIPs have given in each fund
Special Live Trading Session on Saturday: Know why BSE, NSE will remain open on May 18; check timings
If you make RDs of Rs 5,000, Rs 10,000, Rs 15,000, and Rs 20,000 in post office, what will be your maturity amount?
Top 10 Mid-cap Stocks to Invest: Motilal Oswal picks Indian Hotels, Godrej Properties, and more; know target price
Atal Pension Yojana EPFO National Pension System SWP Retirement Planning schemes provide pension every month
Gold and Silver rate today (May 16, 2024): Yellow metal futures subdued; white metal hits record high breaches Rs 87,000 mark
02:11 PM IST