Maharashtra mills not able to meet financial requirements of ethanol tender

In India, sugar mills in Maharashtra aren’t able to supply ethanol to the oil marketing companies under the recently announced buy tender because they don’t have the financial capacity required by the bid documents. The tender requires mills to provide a bank guarantee of 7.5% of the value of the total ethanol offered, while the millers federation had demanded a guarantee of just 1%. The state’s share of the 970 million liter tender is 180 million liters.