K.N. Group acquired ethanol plant
K.N. Group, a top Indian commodities trader, plans to raise ethanol production capacity at a newly acquired plant and build a greenfield facility to cash in on rising domestic demand for the biofuel, a senior company official said.
"We have ambitious plans for the ethanol sector to help reduce India's dependence on crude oil and other energy resources," Vijay Shrishrimal, managing director of Mumbai-based K.N. Group, told .
The company, which is already India's No.1 exporter of molasses - a sugarcane byproduct - has just bought a 100,000-litre a day ethanol plant and plans to set up a new 100,000 litres a day facility in India's west, Shrishrimal said.