Swachh Bio, a lignocellulosic biofuels manufacturing company, has announced that it will soon establish a 250 kilo litre per day second generation biofuels plant in Telangana.
The company announced capital investment of over ₹1,000 crore in the first phase providing employment to 250 people at the plant and 250 more people as additional support and other roles. Swachh Bio chairperson Praveen Paripati announced the decision on Tuesday during his meeting with Chief Minister A. Revanth Reddy and IT Minister D. Sridhar Babu who are on a visit to the United States.
Swachh Bio’s international partner, Suganit Biorenewables developed a patented and viable technology in producing biofuels and biochemicals from biomass and cellulose, which would add to Telangana government’s active efforts towards sustainable and eco-friendly growth of the State. The government guaranteed all required support to the company towards its investment in the State.
Mr. Paripati said the firm was highly impressed with the vision of decentralised development of the State by the new government led by the Chief Minister. “We are excited to partner with the State and being part of its development and transformation journey. We are sure it will help us grow tremendously in the coming years,” he added.
The firm said it had plans to set up additional plants in the State in future and contribute to make the State a biofuels hub.
Published - August 06, 2024 07:50 pm IST
