Abjit Mercantile Pvt Ltd to develop a biorefinery project in India
Haryana Government (supreme governing
authority of the Indian state of Haryana) signed a Memorandum of Understanding
(MoU) with the company Abjit Mercantile Private
Limited for setting up a biorefinery to produce biodiesel during the Invest
North Conference (10-11 September). The Government wants to use the bio-waste of Haryana in order
to reduce the dependence on imported crude oil and boosting the rural economy.
This MoU is a step forward to achieve this goal.
The project has an
estimated capital outlay of INR1470 crore (EUR 200 million). The capacity of
the biorefinery will be 75 million gallons of high quality biodiesel per year and
it will utilized low cost feedstocks. Abjit Mercantile Pvt Ltd is an
international trader of raw materials, agriculture products and dry bulk
commodities with principal office in Dubai.