True Green Bio Energy

CIL Nova Petrochemicals Limited, a listed entity, has permanently closed its polyester yarn plant to pivot into the new business of ethanol production. The company's core philosophy centers on strong corporate governance, which it considers a fundamental pillar for building and maintaining stakeholder trust and confidence. It is setting up a new grain-based distillery with a production capacity of 300 KLPD and a Zero Liquid Discharge system. This strategic venture is supported by sanctioned term loans of ₹100 crores from the State Bank of India and ₹150 crores from Indian Bank. Management foresees a positive future, having secured long-term offtake agreements with major Indian oil companies like BPCL, IOCL, and HPCL. This new business direction represents a significant commitment, with the investment in the ethanol project amounting to over 57% of the company's assets.;