SBI officials visit Zira ethanol plant over loan recovery

Ferozepur, January 13

Amidst the ongoing protest against the ethanol plant over the alleged contamination of groundwater and causing pollution, a three-member team from State Bank of India, Indore branch, yesterday visited the site at Mansurwala village reportedly in connection with the recovery of a loan.

Though the bank officials and plant authorities remained tight-lipped about the development, sources said that a part of land on which the plant has been set up, was earlier mortgaged to the commercial branch of SBI, Indore, regarding which the bank officials had come here yesterday.

This plant had been reportedly established with an investment of more than Rs 300 crore and the financial institutional borrowing to the tune of Rs 200 crore. Reportedly, the salary bill of the unit itself runs into Rs 1.5 crore per month and a further amount of Rs 2 crore per month has to be paid towards the instalment against the institutional borrowing.