India to invest additional $372.7 million in soft loans for standalone ethanol distilleries

December 31, 2018 |

In India, Cogencis reports that the government is looking to invest $372.7 million in soft loans for developers of standalone ethanol distilleries, following the successful uptake of soft financing for sugar mills to add on ethanol production to existing facilities. The government has already approved loans for 114 projects attached to sugar mills while new funding under consideration could provide loans for another 168 projects from both sugar mills and standalone facilities. The loans will have subsidized interest rates of either 6% or 50% of the rate offered by the banks.

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