Hindustan Petroleum Corporation Ltd (HPCL) has decided to invest Rs 614 crore in the two sugar mills, which the company bought in Bihar to manufacture ethanol.

According to company officials, the two plants will produce 60 kilolitres of ethanol per day, which will be used to dope petrol.

It should be noted that HPCL Board, which a few weeks ago approved the investment proposal but due to the General Elections, it was not implemented by the company.

However, the board of directors of the company on Tuesday, at a meeting, has finally given its approval to go ahead with the investments.

Last year, HPCL had taken control over the two closed sugar mills from the Bihar government on a 60-year lease for Rs 95 crore.

Presently, the company is tendering for plant equipment of these two units, which are expected to operational by 2010-end.