The government has extended the deadline for loan disbursement or project completion of ethanol production facilities by six months, the Ministry of Consumer Affairs has announced. Aiming to massively raise ethanol output, the Centre has been providing interest subvention-based soft loans to sugar mills since 2018 for setting up new distilleries or expanding facilities.
The previous timeline for loan disbursement under the schemes on ethanol projects was March 31, 2023. However, due to several challenges in processing loan applications and coordination with multiple agencies, project proponents were unable to adhere to the time limit for disbursements from banks, the Ministry said on Monday.
