PFC and Assam Bio-Refinery sign loan agreement

New Delhi: Power Finance Corporation Limited (PFC) & Assam Bio-Refinery Private Limited (ABRPL) successfully signed a loan agreement on 13.02.2024 for extending term loan of Rs. 3037.50 Crores for setting up Bio- Refinery plant for 2G Bioethanol production and other products such as Furfuryl Alcohol, Acetic Acid, Liquid CO2 along with 24 MW Bio-Coal based CPP in Numaligarh, Assam State at an estimated Project Cost of Rs 4200 Crore. The bio-refinery plant uses dry bamboo as input raw material of 3 MTPA.

It shall produce Cellulosic 2G Bio Ethanol and other platform chemicals using Chempolis’ 2nd generation bio-refining technology ‘FormicobioTM’. ABRPL is a Joint Venture (JV) of Numaligarh Refinery Limited (NRL) and a subsidiary of Oil India Ltd. (OIL)), Fortum 3 B.V., Netherlands (Fortum 3 BV) and Chempolis OY, Finland (Chempolis). 
 

Join PSU Connect on WhatsApp now for quick updates! Click here

Read Also : CONCOR signs MoU with Gati Shakti Vishwavidyalaya, Vadodara

Pradhan Mantri JI-VAN (Jaiv Indhan – Vatavaran Anukool Fasal Awashesh Nivaran) Yojana has laid the vision towards a greener future through its financial support for setting up 12 Commercial Scale 2G Bioethanol Projects using renewable feedstock.

Under the National Policy on Biofuels – 2018 scheme, biofuels are derived from renewable biomass resources and wastes to provide a higher degree of national energy security in an environmentally friendly and sustainable manner by supplementing conventional energy resources, reducing dependence on imported fossil fuels and meeting the energy needs of India’s vast urban and rural population. ABRPL is one of the first Bio-Refineries to produce Bioethanol from Biomass of Bamboo in Assam, North East India, under this flagship initiative.

Read Also : NMDC Swarojgar Yojana Sparks Self-Employment Revolution in Kondagaon, Chhattisgarh

The partnership between PFC and ABRPL highlights PFC’s continued support and assistance in developing the North Eastern Region of the Country. Both organisations remain dedicated to ensuring the successful implementation of the project. 
 

Read Also : MRPL Outshines Bright with Four Excellence Awards