Anand Singhal, Chief Financial Officer of India Glycols Limited said that the company plans to invest between Rs 175 and Rs 180 crore in FY2022-23.
Singhal comments, “We have some capex expenses, which is to be done on grain, because the boiler and turbine is under commissioning stage. Apart from this, we are going to put out one specialised chemical unit, so total capex in FY22-23 will be around ₹175 crore to Rs 180 crore”.
Rupark Sarswat, Chief Executive Officer, India Glycols Limited informs, “Looking forward, we are installing two grain-based bioethanol plants for our businesses, which means biofuels bio based specialties and performance chemicals, as well as portable spirits, which was 180 KLPD in Kashipur and 110 KLPD in Gorakhpur. Now the installation of the plant has been done. The trials are being conducted right now and in near future, we will have these plants fully functioning. We think that medium to longer term these will have a very positive impact on our margins”.
