The importance of ethanol is increasing due to a number of reasons such as global warming and climate change. Bioethanol has been receiving widespread interest at the international, national and regional levels. The global market for bioethanol has entered a phase of rapid, transitional growth. Many countries around the world are shifting their focus toward renewable sources for power production because of depleting crude oil reserves. The trend is extending to transport fuel as well. Ethanol has potential as a valuable replacement of gasoline in the transport fuel market. However, the cost of bioethanol production is more compared to fossil fuels. The world bioethanol production in 2001 was 31 billion liters [19].