The Numaligarh Refinery Limited (NRL) has formed a JV with the Chempolis Oy of Finland and the Fortum 3 BV of Netherlands to build and operate the first of its kind bio-refinery in India, an NRL statement said here today.
The new company, Assam Bio-Refinery Pvt Ltd (ABRPL) was incorporated yesterday and it would generate renewable green fuel-bioethanol, other chemicals and green power from bamboo biomass.
The statement said 50 per cent of equity holding of the ABRPL will be held by the NRL, 28 per cent by the Fortum 3 BV and 22 per cent by the Chempolis Oy.
The joint venture agreement was signed by NRL Managing Director S K Barua, authorised representative of Fortum 3 BV Sanjay Agarwal Chempolis Oy's Chief Executive Officer Tomi Honkala at New Delhi recently.
The ABRPL shall produce 62 million litres of bio-ethanol by using around 0.5 million MT bamboo per annum and will help bamboo farmers get additional income through sustainable cultivation, extraction and transportation of bamboo, the statement said.
The project will also provide employment opportunities to thousands of people.
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