Gujarat Alkalies and Chemicals Limited (GACL) and GAIL (India) Limited (GAIL) have joined hands to set-up a Bioethanol plant of 500 KLD capacity. A Term Sheet for setting up a Bioethanol plant in Gujarat was signed by Shri Harshad R Patel, IAS, Managing Director of GACL and Shri R K Singhal, ED (BD & E&P) of GAIL, in the presence of Shri M V Iyer, Director(Business Development) of GAIL, at New Delhi, on 10th May 2022.
This step is taken in response to the Hon'ble Prime Minister of India's call for 'Atmanirbhar Bharat'. The Hon'ble Prime Minister has launched a Roadmap for 20% Ethanol Blending in Petrol by 2025, with a view to reduce import of crude oil and save valuable foreign exchange
This plant will be using corn/broken rice as feedstock with eco-friendly technology with a likely production capacity of 500 KLD Bioethanol, which will be used for blending in petrol. As by-products from this plant, 135 KTPA Protein-rich Animal feed and 16.50 KTPA of Corn Oil while using corn as feedstock are also expected to be produced.
Dahod, Panchmahal, Aravalli, Mahisagar and Sabarkantha are major corn-producing districts in Gujarat and hence, the project is likely to come up in this part of Gujarat. Corn is also produced in nearby states of Gujarat viz. Maharashtra, Madhya Pradesh and Rajasthan. A Detailed Feasibility Study through a third party is in progress for the project.
The estimated project cost is to the tune of Rs.1,000 crores and it is expected to generate annual revenue of approximately Rs.1500 crores.
An estimated savings of USD 70 million per year in Foreign Exchange outgo is expected through this project. Beyond the savings, this project will also generate direct and indirect employment for around 700 persons. Long term supply contract for corn would encourage corn farming with sustainable, multi-fold income forfarmers through increased productivity and assured market. Steps will also be taken to improve the productivity of corn in the State with the help of the Maize Research Centre in Godhra and other institute(s).
Shares of GAIL (India) Limited was last trading in BSE at Rs. 148.85 as compared to the previous close of Rs. 156.30. The total number of shares traded during the day was 669031 in over 10716 trades.
The stock hit an intraday high of Rs. 156.95 and intraday low of 148.00. The net turnover during the day was Rs. 101533985.00.
Shares of Gujarat Alkalies and Chemicals Limited was last trading in BSE at Rs. 866.65 as compared to the previous close of Rs. 877.05. The total number of shares traded during the day was 54604 in over 2858 trades.
The stock hit an intraday high of Rs. 919.15 and intraday low of 859.30. The net turnover during the day was Rs. 48877923.00.