Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy laid the foundation stone for a bio ethanol plant of Krishak Bharati Cooperative Limited (KRIBHCO) being set up at Sarvepalli (Nellore district) on Thursday.
Reddy laid the foundation stone virtually from its office in the presence of Kribhco Chairman Chandra Pal Singh Yadav, V. Sudhakar Chowdary, Managing Director Rajan Chowdhry and others. On the occasion, Minister of Agriculture & Cooperation, Marketing and Food Processing Kakani Govardhan Reddy was also present.
In his address, Andhra Pradesh CM Reddy said that the plant will be set up at a cost of more than Rs 600 crore which will provide direct and indirect employment to around 1000 people.
“The plant is being set up at the Nellore district of Andhra Pradesh and the construction of this factory will be completed within a couple of years”, the CM added.
Readers would recall that the APIIC had earlier allotted 289.81-acre land to Kribhco for establishing a plant for manufacturing urea with an investment of Rs 700 crore in 2015. In 2017, the ministry of chemicals and fertilizers accorded permissions for setting up Kribhco’s bioethanol project at Sarvepalli.
It bears recalling that the Modi govt lays great emphasis on bio-ethanol and also gives sops for its development. Shah has, in his speech in the past, lauded Kribhco for its initiative in this direction.
Kribhco is exploring the possibility of setting up of Bio Ethanol Plants for the purpose of blending of bio ethanol with petrol and the preliminary activities relating to viability study are in progress.
In line with this plan, Kribhco has also incorporated a wholly owned subsidiary company “KRIBHCO Green Energy Private Limited”. Blending of Ethanol in petrol saves precious foreign exchange in import of crude, it also supports Indian farmers, said one of the Kribhco’s officials.