Vishwaraj Sugar Industries Ltd (VSIL) stated that it will invest Rs 250 crore to set up a new ethanol plant in Karnataka.
At present, VSIL has a sugarcane crushing capacity of 11,000 tonnes per day, distillery capacity of 1 lakh liters per day, co-generation capacity of 36.4 MW.
The company added that it plans to set up a greenfield ethanol production facility, having a capacity of 2.5 lakh liters per day, from the existing factory in the Belagavi district.
The company said it has already acquired 110 acres of land for this plant.
''The estimated project investment is Rs 250 crore and the first full year of operation of this facility shall be FY 2024,'' stated the company.
This expansion, scheduled to be completed by November 2023, is driven by technological up-gradation, the company added.
(With inputs from PTI)
