Power Finance Corporation Limited (PFC) and Assam Bio-Refinery Private Limited (ABRPL) have signed a loan agreement for a term loan of Rs. 3037.50 Crores on Feb 13-2024. The funds will support the establishment of a Bio-Refinery plant in Numaligarh, Assam, costing an estimated Rs. 4200 Crores. The facility, a joint venture of Numaligarh Refinery Limited (NRL), Oil India Ltd. (OIL), Fortum 3 B.V., and Chempolis OY, will use Chempolis’ 2nd generation bio-refining technology ‘FormicobioTM’ to produce 2G Bio Ethanol and various chemicals from 3 MTPA dry bamboo input. The project also includes a 24 MW Bio-Coal based Captive Power Plant. The Memorandum of Agreement (MoA) was exchanged in the presence of key officials from PFC, OIL, NRL, and ABRPL.
The MoA was exchanged in the presence of Smt. Parminder Chopra, CMD; Shri Manoj Sharma, Director (Commercial); Shri H K Das, ED (Projects); Shri Nitin Kumar, GM (Projects –CSP) and Dr. Ranjit Rath, CMD, OIL, Shri Bhaskar Jyoti Phukan, Managing Director, NRL, Shri Sanjay Choudhuri, Director (Finance), NRL & Chairman ABRPL, along with other officials of PFC, OIL, NRL & ABRPL.
PFC signs MoA with Assam Bio-Refinery for setting up Bio-Refinery Plant for Ethanol production and Bio based Captiver Power Plant in Numaligarh .
