Last update: 23.12.2008
India BPCL joint venture to invest $480 million in biodiesel
Source : reuters.com
A joint venture of India's Bharat Petroleum Corp Ltd (BPCL) will invest 22 billion rupees ($480 million) to produce biodiesel in about four years, the Hindu Business Line newspaper reported on Wednesday. Bharat Renewable Energy Ltd, in which two other firms also own stakes, will initially grow jatropha plants on one million hectares of wasteland in the northern state of Uttar Pradesh to produce biodiesel, BPCL Chairman Ashok Sinha told the paper. The government on Sept. 11 set an ambitious 20% target for biofuel use within a decade. India has already asked oil firms to mix ethanol with petrol to 5% of volume almost nationwide. It aims to double that to 10% from October, when the new sugarcane-crushing season begins.
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24 September 2008 |
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Articles on the topic of biodiesel (249 articles)
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