The investment over the next two years is expected to be approximately Rs 250 crore, with the first phase of 110 KLD being completed within a year with an investment of Rs 160 crore.
The project will be funded with a combination of internal accruals & debt for which the company has already received the inprinciple approval from its banks.
Modi Naturals said it has decided to establish an Ethanol plant in Chhattisgarh.
For the project, Modi Naturals (MNL) has incorporated a 100% subsidiary (wholly owned subsidiary) called Modi Biotech (MBPL).
MBPL has received an in-principle approval for a 210 KLD distillery for manufacturing ethanol from the central government, along with signing an MoU with the Chhattisgarh government.
