Raipur, July 15 (UNI) Hindustan Petroleum Corporation Limited will invest about Rs 400 crore over the next three years for development of biofuel in Chhattisgarh.
A tripartite memorandum of understanding was inked here yesterday with the state government and Chhattisgarh State Renewable Energy Development Agency in the presence of Chief Minister Raman Singh.
Under a joint venture undertaking, ratanjot would be sown over 15,000 hectares, seeds collected and a biodiesel unit set up. The company would also look after ratanjot saplings already standing over 3,000 ha.
''Chhattisgarh has made a beginning, on experimental basis, for biodiesel production -- as an alternative energy source -- through encouraging ratanjot farming. More than 40 crore ratanjot saplings were planted in the state in the past four years over 1.50 lakh ha, about 70 per cent of which is government land,'' said Dr Singh.
UNI AS-AC 1836