SBI officers go to Zira ethanol plant over mortgage restoration

SBI officers go to Zira ethanol plant over mortgage restoration

Our Correspondent

Ferozepur, January 13

Amidst the continuing protest in opposition to the ethanol plant over the alleged contamination of groundwater and inflicting air pollution, a three-member workforce from State Financial institution of India, Indore department, yesterday visited the positioning at Mansurwala village reportedly in reference to the restoration of a mortgage.

Although the financial institution officers and plant authorities remained tight-lipped in regards to the growth, sources mentioned that part of land on which the plant has been arrange, was earlier mortgaged to the business department of SBI, Indore, concerning which the financial institution officers had come right here yesterday.

This plant had been reportedly established with an funding of greater than Rs 300 crore and the monetary institutional borrowing to the tune of Rs 200 crore. Reportedly, the wage invoice of the unit itself runs into Rs 1.5 crore per thirty days and an additional quantity of Rs 2 crore per thirty days needs to be paid in direction of the instalment in opposition to the institutional borrowing.

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