KN Group investing heavily in ethanol production and exploring IPO

In India, Reuters reports leading molasses exporter KN Group has bought a 100,000-liter a day ethanol plant that it will expand to 160,000 LPD with plans to build another in in western region Shrishrimal also producing 100,000 LPD as it seeks to build up supplies for the government’s 20% ethanol blending mandate. Although the existing facility produces ethanol from molasses, the idea is to convert it to operate using sugarcane juice due to improved economics. The company is exploring an IPO for the new ethanol business.