Mishtann Foods signs MOU with Gujarat to build grain-based ethanol plant

In India, the Business Standard newspaper reports Mishtann Foods has signed a Memorandum of Understanding with the government of Gujarat to build a grain-based ethanol plant, although the installed capacity nor the investment amount were announced at the time of the MOU. Mishtann Foods produces and sells wheat and basmati rice as well as other food products. As a result of the announcement, the company’s stock price hit the upper circuit limit of 5% on the Bombay Stock Exchange.