Shree Renuka Sugars is looking to set up an integrated sugar-cum-ethanol plant with oil marketing company HPCL in Maharashtra. This would be the first such tie-up between a sugar and a petroleum company. Renuka will hold 76 per cent in JV, while state-owned HPCL will have the rest. It will be a flexible unit, where it can produce up to 50 per cent ethanol and the rest can be sugar. In September 2008, Renuka Sugars had signed MoU with HPCL for setting up of an integrated plant. Both the parties at present are renewing the 2008 MoU. The project had been delayed.
It has offered to supply 120 million litres ethanol, the biggest in the latest round of bidding, to oil marketing companies for blending it with petrol. The sugar industry has offered to supply around 1,000 million litres ethanol to oil marketing companies for blending it with petrol. This is more than the 860 million litres required for blending the government-prescribed five per cent ethanol with petrol. The oil marketing companies had invited bids for the supply of 1,050 million litres.
crackcrackCompany Name | CMP |
---|---|
Shree Renuka Sugar | 39.83 |
Bajaj Hindusthan Sug | 31.14 |
Balrampur Chini Mill | 537.05 |
Triveni Engg. & Inds | 453.75 |
Dalmia Bharat Sugar | 379.55 |
View more.. |