OIL signs MoU for Carbon sequestration, restoration of degraded forest land in Digboi

• Under the project, reforestation and afforestation in 100 hectare of degraded forest area is planned to be undertaken through plantation of 2,50,000 saplings by March 2025 
• Establishment of a Bambusetum and other activities to reduce dependency on the forest by providing alternate livelihood opportunities is also planned to be undertaken 

New Delhi: Oil India Limited (OIL) has signed a Memorandum of Understanding (MoU) with Digboi Forest Division, Assam Forest Department, on April 29 for a project on Carbon Sequestration and Restoration of Degraded Forest Land in Upper Dihing Reserved Forest (west block) under Digboi Forest Division. The initiative has been undertaken under OIL's CSR project Vasundhara. 

The MoU was signed by Pallab Barman, CGM-FHQ Affairs from OIL and TC Ranjthram, DFO from Digboi Forest Division, on Saturday in the presence of Ravi Shankar Prasad, Addl Chief Secretary, Government of Assam, Prasanta Borkakoty, Resident Chief Executive, OIL and other officials from OIL and the government of Assam.  

Under the project, reforestation and afforestation in 100 hectare of degraded forest area is planned to be undertaken through plantation of 2,50,000 saplings by March 2025. Apart from plantation, establishment of a Bambusetum and other activities to reduce dependency on the forest by providing alternate livelihood opportunities is also planned to be undertaken.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)