homeeconomy NewsSugar companies to get interest subvention for setting up new distilleries, says Balrampur Chini
Sugar companies to get interest subvention for setting up new distilleries, says Balrampur Chini
The cabinet has approved a Rs 15,500 crore loan for sugar mills to boost ethanol capacity. Vivek Saraogi, MD of Balrampur Chini Mills, spoke to CNBC-TV18 on the development.
The cabinet has approved a Rs 15,500 crore loan for sugar mills to boost ethanol capacity. Vivek Saraogi, MD of Balrampur Chini Mills, spoke to CNBC-TV18 on the development.
"This move would entail getting interest subvention for setting up new distilleries and expansion. So, basically, the government has extended the ambit of benefits for ethanol production," Saraogi said on Friday.
Interest subvention means subsidy or rebate in the rate of interest.
Saraogi said the company would avail this benefit for setting up distillery by December-end.
Saraogi also clarified that this is a very fundamental move and "would not address the dues of this year. It would handle sugar surpluses for times to come."
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