The company is setting up a state-of-the-art distillery, which has a production capacity of 210 kld, with a six MW cogeneration power plant. To set-up this plant, Modi Naturals incorporated a 100 percent subsidiary (wholly-owned subsidiary) called Modi Biotech (MBPL).
MBPL has received in-principle approval for a 210 kld distillery for the manufacture of ethanol from the Central Government, along with signing an MOU with the Chhattisgarh government for the same.
The company has already received environment clearance (EC) for the project from the Ministry of Environment, Forest and Climate Change (MoEF&CC).
The investment over the next two years is expected to be approximately Rs 250 crore, with the Phase-I of 110 kld with an investment of Rs 160 crore, to be completed in Q3/FY23.