Godavari Biorefineries launches new chemical plant

Godavari Biorefineries Ltd, maker of biofuels and specialty chemicals, today inaugurated a new plant with 4,000 tonnes annual capacity at Sakarwadi in Ahmednagar.
The company had recently raised private equity from Mandala Capital, a part of which was for the setting up of this plant, it said in a statement.
Inaugurating the plant, Minister for Housing, Labour and Mines Prakash Mehta said, "The development of this plant will contribute to the socio-economic development of the area."
Godavari Biorefineries Chairman and Managing Director Samir Somaiya said, "The new unit will allow us to offer customized chemicals and solutions for the global markets. It is part of our strategy to meet the growing demand for chemicals manufactured from renewable feedstocks using sustainable practices."

The company has been pioneers in making ethanol-based chemicals and is now working on the utilisation of biomass to make a wider variety of products, the statement added.
Godavari Biorefineries was established in 1939, and has sugar, ethanol, power and chemical plants in Karnataka and Maharashtra. Godavari expects a turnover exceeding Rs 1,200 crore for the financial year 2016.