In India, the food ministry has gone back to cabinet to seek another $951 million in soft loans in order to facilitate implementation of 168 ethanol projects. Already 114 ethanol projects have been approved. The funding is in the form of five-year’s worth of interest subsidy, lowering interest rates to 6% or dropping bank rates by half, depending on which is lower, to jumpstart projects. The funding intended for use towards sugarcane or molasses-based ethanol production.
Category: Fuels