Shree Renuka reveals biofuels strategy

Shree Renuka Sugars Ltd. (SRSL), based in Karnataka, India, has drawn up a three-part strategy to consolidate its leadership position in biofuels. This includes acquisition of ethanol EPC & equipment manufacturing capability, acquisition of ethanol manufacturing assets, and organic growth in ethanol capacity. The distillery will help Shree Renuka in cutting down transport cost for supply of its ethanol contracts to the oil marketing companies in Goa, Karnataka and Kerala and for export purposes. The company has firm orders from oil companies for supply of ethanol over the next three years. It also plans to increase the capacity of this unit from 100,000 liters per day to 250,000 liters per day in the near future, to cater to the fuel ethanol market in Maharashtra and other states. (July 27, 2007)