New Delhi: BCPL Railway Infrastructure Limited on Thursday announced that its proposed subsidiary, BCL Bio Energy Private Limited has been granted provisional stage-1 clearance for production of ethanol from grains like Maize, Rice for blending with petrol. As per the Bihar Industrial Investment Promotion Rules 2016 by the government of Bihar, Department of Industries and Secretariat of State Investment Promotion Board this is the first stage clearance. This information has been shared by the BCPL in a regulatory filing to the stock exchange on Thursday.
This clearance enables BCL Bio Energy Private Limited to apply for further clearances as required under the Bihar Industrial Investment Promotion Rules 2016.
Commenting on the development BCPL's Chairman Aparesh Nandi said, “We at BCPL Railway Infrastructure Limited are pleased to inform our stakeholders that our proposed subsidiary company ‘BCL Bio Energy Private Limited’ has started its journey and has been granted the Stage – I clearance by the Government of Bihar, Department of Industries, Secretariat of State Investment Promotion Board.
We are hopeful that the other clearances as required under the Bihar Industrial Investment Promotion Rules 2016 will be granted to us by the concerned department very shortly. The project involves the production of Ethanol from grains like maize, rice etc. at Purnia, Bihar or any other suitable place. It would be operational in around 14 months and its commercial production is expected to be reflected in the accounts of FY23 onwards.”
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. You may follow us on Google News. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)