Tinna Oil to set up $2mln bio-diesel plant in Latur
New Delhi, Sep 10 (UNI) Tinna Oil&Chemicals Limited (TOCL) today announced setting up a 50 tonnes per day (tpd) capacity 'Continuous Process' Bio-Diesel plant in Latur, Maharastra with an investment of two million dollar.
TOCL is a joint venture company between Delhi-based Rs 500 crore Tinna group and US-based 36 billion dollar Archer Daniels Midland.
The plant will start production by November 2006 and can be rapidly scaled up as per local demand in near future, a company statement said.
''Bio- Diesel will be the next fuel to cope with depleting resources and increasing demand for petroleum products. We are very excited to have this joint partnership with Archer Daniels Midland, the largest producer of Bio-Diesel in Europe to set up setting up 50 tpd 'Continuous Process' Bio-Diesel plant in Latur,'' Tinna Group Director Kapil Sekhri said.
Also as a part of our commitment to farmers we are aggressively looking at Jatropha plantation to support the farmers to use their wastelands for additional income, he added.
The group is looking at 20,000 acres of direct or indirect Jatropha plantation with an investment of around 130 crores in next 3-4 years. The target is to have 45000 acres of Jatropha plantation to fully utilize the 50 tonnes per day capacity of the new plant in future.
TOCL is one of the leading manufactures of edible oil in India with a 1000 tonne per day crush facility each in Latur (Maharashtra) and Dharwad (Karnataka).
It is the largest crusher of Sunflower and Safflower seeds and is among top 5 Soyabean crushers in India.
Archer Daniels Midland is one of the largest agricultural processor of Soyabean, Corn, Wheat and Cocoa and has also diversified into food ingredients, bio-products and nutraceuticals.
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