BCL Industries Limited has performed the groundbreaking ceremony (Bhoomi Pujan) of its brownfield distillery plant expansion in Bhatinda, Punjab on 7th December, 2021 for setting up another state-of-the-art plant having an installed production capacity of 200kl/Day of Ethanol and 10 MW of power co-generation.
BCL Industries Limited is one of the largest grain-based ethanol manufacturers in the country and foreseeing the high demand for Ethanol in the coming years based on the government's plans of increasing the ethanol blending rate in fuels, the company is setting up another state-of-the-art plant, which will have an installed production capacity of 200kL/Day of Ethanol and 10 MW of power co-generation upon completion. The company has already received Environmental Clearance for the project from the Ministry of Environment, Forest and Climate change (MoEF).
The total capital expenditure that will be incurred for the project will be INR. 172 Crores for which the financial closure has been completed with Canara Bank, that will sanctiona loan of INR. 120 Crores and disbursements of the loan have thereof also started for ordering the equipment. The company had timely applied and qualified for the interest subvention scheme, which would make the applicable interest rate for the loan around 4%.
The project will also have a 10 MW co-generation powerplant, which will use rice straw as its fuel, making it a one of its kind. The Company is entitled for the various benefits provided by State of Punjab for using the rice straw as fuel by way of refund of State's share of GST and the Company has registered for the same with the Depatment of Industries of Punjab Govt.
Shares of Bcl Industries Limited was last trading in BSE at Rs. 256.60 as compared to the previous close of Rs. 249.35. The total number of shares traded during the day was 19782 in over 1421 trades.
The stock hit an intraday high of Rs. 262.00 and intraday low of 251.30. The net turnover during the day was Rs. 5065289.00.