Friday, September 30, 2022

Oil PSUs have given 400 LoIs to entrepreneurs for CBG plants

Must read

New Delhi: Oil PSUs have given more than 400 Letters of Intent (LoI) to entrepreneurs and businesses for production of Compressed Biogas (CBG) from multiple feedstock, including agricultural residue, cow dung, municipal waste, etc, at CBG plants. Entrepreneurs have also been offered assured price and offtake guarantee, Petroleum Minister Dharmendra Pradhan said on Friday.

The statement came on a day Pradhan reviewed the progress of various initiatives that are underway, under the National Biofuel Policy — ethanol blending, biodiesel blending, production of compressed biogas (CBG) from biomasses and municipal solid waste and converting used cooking oil (UCO) to biodiesel.

‘Provide necessary handholding to entrepreneurs for CBG plants’

While noting that two CBG plants have become operational at Pune and Kolhapur in Maharashtra, Pradhan told the senior management of oil PSUs, officials of Petroleum Ministry, FSSAI and Department of Agriculture to provide necessary handholding to entrepreneurs for easy access to bank finance for building these CBG plants. “Directed the Oil PSU officials to come up with a viable business model and remunerative prices to help new entrepreneurs aspiring to enter into Biodiesel sector for connecting Used Cooking Oil #UCO into Biodiesel,” Pradhan said in a tweet.

‘Ethanol blending increasing y-o-y’

Ethanol blending is increasing year-on-year through various routes, including C heavy molasses, B heavy molasses, sugar, sugarcane juice, sugar syrup and damaged food grains, the minister said. He also instructed officials to ramp-up efforts for procurement of more and more ethanol for blending.

“The Compressed Biogas #CBG initiative will also support Hon. PM Shri @narendramodi’s #SwachhBharat mission, help address pollution problem for a clean India in a big way and provide an alternate source of income to our farmers, making them ‘Urjadatas’ apart from being Annadata,” Pradhan said in a tweet.

- Advertisement -

More articles

- Advertisement -

Latest News