The environment friendly industry includes agriwaste to generate power,fuel ethanol and fertiliser from residual waste in view of the energy crisis and newest business- trading in carbon credits. Though the fuel ethanol business is not seen as particularly profitable since its price is controlled by the government, other by-product from agri-waste products like mono ethylene glycol (MEG),rectified spirit(RS)and extra neutral alcohol (ENA) and power are seen as lucrative. Price of fuel ethanol has been fixed at Rs 18.50 a litre. Octaga Green Power and Sugar company(OGPSCL) promoted by Basab B Paul is eyeing segments like monoethylene glycol , rectified spirit in its greenfield project at Karnoor in Kolhapur. OGPSCL will enter sugar production in the end,beginning with by -products to ensure profitability.Its contemplated greenfield facility for the production of ethanol will run on molasses for 100 days and use grain for the rest of the year. It will outsource molasses from Kolhapur ,which has 18 co-operative sugar mills ,and from Karnataka. The plan to manufacture all three grades of alcohol will go on stream by may-june 2006.This will be followed by a 17.5 MW power plant ,the PPA for which has been signed with the Karnataka government. And then it will start producing MEG,and then go for sugar production,crushing 3000 tonnes a day.