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Nova Oleochem to Set Up $56 Million Biodiesel Plant in Gujarat
BANGALORE, INDIA--September 4, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--India's Nova Oleochem (Mumbai, India) is planning to set up a biodiesel plant and three captive power plants in Gujarat. The plant will be designed to produce 110,000 liters of biodiesel per day and each of the power plants will have a generating capacity of 2.5 MW. The feedstock for the plant will be Jatropha curcus, and the power plants will use agricultural waste as feedstock. Jatropha plantations will be spread over 10,000 hectares of wasteland, and Nova Oleochem has already obtained approval in principle from the state government. The state-run Indian Oil Corporation Limited (BOM:530965) (New Delhi) is already developing more than 30,000 hectares of wasteland for Jatropha plantations in the state of Chhattisgarh and proposes to develop another 30,000 hectares in Madhya Pradesh. D1-BP Fuel Crops (London), a joint venture between BP plc (NYSE: BP) (London) and D1 Oils plc (LON:DOO) (Middlesbrough, U.K.), has identified 1 million hectares of land available globally for the cultivation of Jatropha, 30% of which is in India.
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Industry Segment: Alternative Fuel
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