Nuway Organic plans alcohol unit in Punjab
The company will produce ENA and finished products like vodka, health drinks and also plans to supply ENA to the pharmaceutical Industry.
The company has already purchased 32 acres of land near Rajpura for the proposed project. The upcoming unit will house a distillery, storage facilities for the grains and equipped with latest technology machinery. Further, the company has got all the necessary clearances from the concerned ministries and hopes to start the construction work as soon as it gets the excise extension by the Punjab government.
Speaking to Business Standard, Nuway Organic Natural India Ltd Managing Director Manminder Singh, said, "We are setting up state-of-the-art potable alcohol unit with a production capacity of 25 Kilolitre per day. We are going to use potato, broken rice, maize etc. as raw material."
It is estimated that the unit will process about 8 metric tonnes of potato daily. Further, the plant would have an option to process by mixing the raw materials at one go or individually. The company will produce ENA and finished products like vodka and health drinks and also plans to supply ENA to the pharmaceutical Industry.
It is worth noting that the project is under assistance sector of Punjab Agro Industries Corporation Ltd, in which the stake of the corporation is about 11 per cent.
Commenting upon the availability of raw materials, he said, "Punjab being an agrarian state, the availability of raw material for the proposed project is not a problem." So far the procurement of raw material is concerned, the company is planning to buy it from Punjab only.
He added initially we will use 60 per cent of the installed capacity and are aiming to achieve a turnover of Rs 50 crore in the very first year of operation.
Further, with the 100 per cent utilisation of the plant we hope to achieve turnover of Rs 100 crore. He also added that the company is aggressively looking at domestic market as well as export market to market our product.