Gulshan Polyols, BCL Industries bag multi-crore ethanol supply orders

Gulshan Polyols Ltd and BCL Industries have secured significant contracts from Indian oil marketing companies for the supply of ethanol.

Gulshan Polyols Ltd. has been granted a contract valued at Rs 572 crore to deliver 89,404 kiloliters of ethanol to Bharat Petroleum Corp. and Hindustan Petroleum Corp. The ethanol will be sourced from its Boregaon plant, and the supply to the oil marketing companies is scheduled until October 31, 2024, as disclosed in an exchange filing.

Meanwhile, Svaksha Distillery, a subsidiary of BCL Industries, has clinched a Rs 228 crore order to supply ethanol during the Ethanol Supply Year (ESY) to state-run entities such as Bharat Petroleum Corporation Limited, Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited, and other oil marketing companies.

BCL Industries Ltd has also secured an ethanol supply order worth Rs 339 crore. The ethanol supply will be executed in two phases — from November 2023 to January 2024 and from February 2024 to April 2024. Across these stages, BCL Industries is set to provide 4.96 lakh KL of ethanol to the oil marketing companies (OMCs).

Notably, BCL Industries stands as the sole company in India and the South Asian region with a forward and backward integrated ethanol plant.

Ethanol on Rise

In a recent parliamentary address, Union Petroleum Minister Hardeep Singh Puri announced India’s achievement of the 12% ethanol blending target with petrol for the concluded ethanol supply year in October 2023.

Responding to queries during the Question Hour in Rajya Sabha, Minister Puri highlighted that the 10% blending target was surpassed five months ahead of the November 2022 deadline.

Buoyed by the Ethanol Blending Programme’s seven-year success, the government has decided to advance the ethanol blending target to 20% in petrol from 2030 to the Ethanol Supply Year (ESY) 2025-26.