Fortum, Chempolis executing EUR-160m bio-refinery project in India

Bamboo. Author: Fiona Campbell-Howes. License: Creative Commons, Attribution 2.0 Generic

February 11 (Renewables Now) - Indian state-owned oil refiner Numaligarh Refinery Ltd (NRL) and local units of Finland’s Fortum Oyj (HEL:FORTUM) and Chempolis have broken ground on a EUR-160-million (USD 181m) bio-refinery project in Assam, India.

Under the terms of the previously signed joint venture agreement, the Finnish parties will invest in a 50% equity stake, while NRL will hold the remaining 50%. Fortum has committed to invest EUR 13.5 million in the project, it said in a statement.

Fortum and Chempolis will build a facility that utilises the latter’s formico-technology and runs on bamboo, producing bio-ethanol, biochemicals and biocoal. NRL will buy the produced bio-ethanol to blend it to petrol.

Construction work is seen to be finalised by June 2021.

(EUR 1.0 = USD 1.131)

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