Mission Biofuels proposes to set up a Biodiesel refinery in Orissa
BioTech, Pharma, INVESTMENTS and INVESTMENT PLANS, Jatropha 3 Comments »Following is from a report in Expressbuzz.
The Mission Biofuels India Pvt Limited has submitted a proposal to the State Government to set up a biodiesel refinery in Orissa.
The Mumbai-based company has sought 35 hectares of land to set up the refinery at an estimated cost of Rs 350 crore. Chief Executive Officer (CEO) of the company Asish Swaroop today met Chief Secretary Ajit Kumar Tripathy at the Secretariat to discuss the proposal.
The company gave a power point presentation on the project.
The project is expected to give returns from the fourth year. It is estimated that 3 kg of jatropha yields one litre of bio-diesel, the production cost of which comes to around Rs 22. The company has invested Rs 40 crore for taking up jatropha cultivation in 12 districts of the State. The cultivation will be taken up on the land of BPL families with the National Rural Employment Guarantee Scheme (NREGS) funds.
Around five lakh acres will be covered by 2011 for which a 200-member team of the company is working in Orissa to promote jatropha cultivation.