Govt. of Punjab & Virgo Corp Signs MoU for Biofuel Project

The Punjab government has announced that it has inked a MoU with a Delhi-based company for Rs 630-crore biofuel project which will generate renewable fuel from rice husk.

Punjab Chief Minister Amarinder Singh said that the project would go a long way in containing environmental pollution due to stubble burning; besides supplementing the income of farmers by helping turn insurmountable agro-waste into raw material for generating biofuel.  The technology for the project will be presented by Honeywell.

The company, Virgo Corporation, will use the technology to generate biofuel from rice husk at a processing plant which will present over 150 direct and 500 indirect jobs, an official representative said.

The project would pave way for prospective future collaborations in terms of investments, technology transfer between Punjab and the US, the representative added.  The MoU was signed in the presence of Singh and US Ambassador to India Kenneth I Juster.

With the move towards renewable energy, Punjab would also enhance its power generation capacity with a promise for a cleaner future.

Business | News published on 12/02/2019 by Moulin

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