Government Extends Financial Assistance to Ethanol Project

Government Extends Financial Assistance to Ethanol Project

On 14th January, 2021 Government has notified scheme for extending financial assistance to the project with a view to enhance ethanol distillation capacity including set up of distilleries for producing 1G ethanol from feed stocks such as cereal, sugarcane, sugar beet etc.

Accordingly, Government would bear interest subvention for five years, including one-year moratorium, against the loan availed by project proponents from banks at 6% per annum or 50% of the rate of interest charged by banks, whichever is lower.

In order to achieve the target within the timeline, State Governments/ UTs have been advised to promote the scheme to the entrepreneurs and encourage them to participate in the scheme and to facilitate entrepreneurs in arranging land for the project, getting early environment clearance etc. in setting up of distilleries.

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