KBJ Group's Mohit Kamboj forays into ethanol production
Ethanol, also termed as Ethyl alcohol, is an organic compound that is used for manufacturing drugs, liquors, cosmetics, polishes, plastics, fuel, etc. The Government of India came forward with its target to promote ethanol-blended auto fuel in the next five years and increase domestic production of Ethanol for the same.
KBJ Group has stepped forward to undertake the production of Ethanol by setting up a plant in Bihar. The company successfully functions in various sectors – hospitality, entertainment, real estate, jewellery, bullion, and the agricultural industry. With KBJ Group’s expertise in the business, their expansion in Ethanol production appears to be a promising venture for the country and a high success rate is expected from it.
KBJ Group CEO Mohit Kamboj met Shahnawaz Hussain Industry Minister of Bihar on the 2nd July 2021 to discuss Ethanol production prospects in Bihar. KBJ Group, a conglomerate firm based in Mumbai, is set to expand its operations in the Ethanol production industry in a collaborative venture with the Bihar government.
Mohit Kamboj met Shahnawaz Hussain to discuss the strategy for the enterprise and plan initial steps to begin the operations. On asking about the project, Mohit Kamboj said, “The Government of Bihar has lent great support and guidance to initiate this project. The plant will be set near farmlands to make raw material acquisition easier and increase employment opportunities in the neighbouring areas.”
This enterprise is aimed to decrease India’s dependence on fossil fuel oils and offer an environmentally sustainable alternative for the masses. The Government of India has taken multiple measures to boost the production of Ethanol by administering price mechanisms, opening potential routes for Ethanol production, remission applicable taxes, and amendments in the National Policy of Biofuels – 2018. Led by Mohit Kamboj, KBJ Group is to be assisted by the State and the Central government in the procurement of land, setting up of the plant, acquiring human resources from the area to ensure maximum benefit as well as ease of operation for every concerned party.
This project is a step towards progress in the agriculture field as well as the employment industry, observes Mohit Kamboj aka Mohit Bharatiya, an environmentalist and promoter of the Make in India campaign. With establishing production units in Bihar, the project foresees an increase in income for farmers producing feed-stock and raw material which can be used for Ethanol manufacturing. A significant increase in investment in the Ethanol industry is also expected with the plethora of fiscal incentives offered by the government in this direction.
Bihar government has been focused on paving a path towards industrial progress in the state with its various projects. The Government has been working diligently towards skill development, production of agriculture and processed foods, improving exports, and promoting tourism in the state. With Ethanol Production Promotion Policy, 2021, Bihar is expected to witness a steady rise in developmental projects and increased investment opportunities in Ethanol Production as well as other sectors. We are excited and proud to be a part of this history-making moment, says Mohit Kamboj, all set to take on this challenge and employ his business acumen to this project.
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