Global commodity leader Olam Agri is investing approximately $60 million in a multi-input bio-ethanol plant in Rajgoli, Maharashtra. The company already operates a sugar factory there with a crushing capacity of 4,000 tonnes per day.
Muthukumar Neelamani, Group CFO of Olam Agri, told Businessline at the Samunnati FPO Conclave in Hyderabad, “With the recent government policies on mixed fuels and the shift from B10 to B20, we believe that moving into bio-ethanol production is the right step. We are investing close to $60 million in a multi-input capability distillery, which means that if the cane production is low, we can substitute that with corn and vice-versa.”
Olam Agri plans to expand its sugarcane crushing capacity to about 8,500 tonnes per day with the new bio-ethanol unit, which is expected to become operational by March next year.
Headquartered in Singapore, Olam Agri operates in over 30 countries across various sectors, including rice, cotton, pulses, sugar, and now bio-ethanol. “India is a key market for us,” Neelamani stated.
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