Should You Invest in Nayara Energy? Big Bet on Biofuels with ₹600 Cr Ethanol Plants!
Under the Ethanol Blending Program, the government has set a target to blend 20% ethanol in petrol. For this reason, India's major energy sector company Nayara Energy is investing ₹600 crore to increase India's ethanol production by setting up two ethanol manufacturing plants in Andhra Pradesh and Madhya Pradesh. Each plant will boost ethanol production by 200 Kilo liters per Day and it is expected that Nayara Energy will set up these plants by 2026. Not only that, Nayara Energy wants to set up 5 such ethanol manufacturing plants in the future.
Nayara Energy, which is known for its 20-million metric tonne oil refinery in Vadinar, Gujarat, will not only stop there but will also diversify into petrochemicals for which it will invest ₹6000 crore. Additionally, it will invest ₹4000 crore to modernize the existing refinery and to enhance their longevity. All these plants will be completed by 2026.
Such a massive scale expansion would ultimately benefit the investors of the company.
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About Nayara Energy:
Nayara Energy is a major player in India's oil and gas industry. They own and operate the second-largest refinery in the country, located at Vadinar, Gujarat. This refinery supplies fuel to a network of over 6,600 retail outlets, the most of any private oil company in India. Nayara Energy is a relatively young company, having been formed in 2017 through the acquisition of Essar Oil. It is a joint venture between Russia's Rosneft and a consortium of Indian companies.
Nayara Energy Unlisted Shares Research Report
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