Naturol Bioenergy in pact with Belgium co on biodiesel plant
Hyderabad, Apr 6 (UNI) Naturol Bioenergy has inked strategic technology partnership with De Smet Ballestra Group of Belgium for implementing its Rs 140 crore integrated biodiesel plant at Kakinada in Andhra Pradesh.
Company Managing Director and CEO Bhaskar Chalasani told media here today the De Smet Ballestra was selected after a detailed and comprehensive global tendering and due dligence process for providing end-to-end solution resulting in risk mitigation while commissioning.
The bio-diesel plant designed on multiple feedstock ranging from palm oil and jatropha to soya bean will produce 300 tonne per day (TPD) of biodiesel and employ 200 workers. The commercial production is slated to begin in January next.
The integrated project with emphasis on 100 per cent export utilisation of feedstock will have import substitution and pollution mitigation products besides being a potential foreign exchange earner from export of bio-products.
Under the strategic partnership, De Smet Ballestra will provide biodiesel process engineering and innovative solutions of biodiesel production.
The project claimed to be one-of-its-kind in Asia had a debt to equity ratio of 1.5:1. APIDC Venture Capital -- which was the first to support the project from concept stage -- was instrumental in helping raise further funds from other equity investors such as UTI Venture Funds and SIDBI Venture Capital.
Under the project, about 1.20 lakh acre of dry wastelands can be taken up for cultivation based on vegetable oil seed plantations as a part of rural poverty alleviation programme and had potential to create 12000 jobs in agro sector.
Naturol is planning to set up additional biodiesel plants at Visakhapatnam in Andhra Pradesh and in various South Asian countries. It had already initiated discussions with potential partners in Thailand, Indonesia and Sri Lanka, Mr Chalasani said adding for the next three years the company had planned production on imported feedstock from Malaysia and expected jatropha from 1.5 lakh acre in Andhra Pradesh to supplement from the third-fourth year.
The entire production will be exported to Europe, USA and other Asian Countries, he added.
UNI DB GM 1656