Modi Naturals Ltd. inaugurated its ethanol distillery in Raipur, Chhattisgarh, through its subsidiary, MBPL. The facility has a production capacity of 210KLD and a 5.5MW cogeneration power plant. It will operate at 130KLD with a capital expenditure of ₹150 crore and a debt of ₹100 crore. IEA predicts India to become the world's third-largest ethanol market by 2026, making projects like MBPL's Ethanol Plant pivotal for energy security and sustainability. Shares were down 1.90% to ₹309 at 1.50pm on BSE.