Modi Naturals, one of India’s leading consumer goods companies operating in the wellness and foods category, through its wholly owned subsidiary Modi Biotech Private Limited (MBPL), has announced the inauguration of its ethanol distillery in Raipur, Chhattisgarh.
The ethanol plant, an initiative of MNL’s subsidiary, MBPL, represents a significant stride towards a sustainable future. With the distillery boasting a robust production capacity of 210 KLD (thousand liters per day) and a 5.5 MW cogeneration power plant, this facility is poised to impact the biofuel landscape. The facility is planned to operate at 130 KLD in the first phase, with a capex of Rs. 150 crore. with debt of Rs. 100 crore.
Commenting on the commercialization of the plant, Akshay Modi, managing director of Modi Naturals, said, “The commissioning of our Ethanol Plant represents an important moment in India’s drive for sustainable biofuels. Modi Biotech is committed to influencing the nation’s energy future. Biofuel is certainly the key to India’s automotive sector. Our ethanol facility demonstrates our commitment to sustainability, energy security, environmental responsibility, and increasing farm income simultaneously at the same time. Furthermore, it has enabled us to diversify our company portfolios and build a green-field unit with significant growth potential.”
The inauguration ceremony was attended by Anil Modi, CMD, Vijay Gupta, MD Beekay Engineering and Sudhir Halwasiya, Alok Garg, Aditi Modi, and Akshay Modi, directors of MNL.
The central government provided MBPL in-principle approval for ethanol production, emphasizing its connection with the ethanol blended petrol (EBP) program. In tandem, an MOU with the Chhattisgarh government strengthens the commitment to this project. Moreover, the industry tender period operates from November to October.
According to the International Energy Agency (IEA), India will overtake the United States and Brazil as the world’s third-largest ethanol market by 2026. This dramatic growth highlights the critical significance of initiatives like MBPL’s Ethanol Plant in ensuring India’s energy security, lowering carbon emissions, and establishing a sustainable future.
Modi Naturals is one of India’s leading consumer goods companies operating in the wellness and foods category. It has created niche, premium and differentiated brands in highly competitive edible oils and healthy foods categories.
During FY 2022-23, MNL recorded a turnover of Rs 418 crore through its products sold in India through its portfolio of brands such as Oleev, Oleev Kitchen and PIPO foods.
The company said it is poised to grow exponentially in the next few years with its three verticals –
consumer goods vertical; bulk edible oil and feeds vertical; and ethanol manufacturing vertical.
In line with the Ethanol Blended Petrol (EBP) program, Modi Naturals diversified into ethanol manufacturing.
