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Joint Venture Company Invests in Biofuels
INDIA - Bharat Renewable Energy, a joint venture between Bharat Petroleum, Nandan Biomatrix and Shapoorji Pallonji, is to invest Rs 22 billion to produce 1 million tonnes of biodiesel by 2015.Jatropha is currently being planted on surplus land at the existing supply locations and LPG bottling plants and the plantations are expected to yield their full crop in two to three years.
The firm plans to continue planting Jatropha in the coming years in locations where vacant land is identified, Trading Markets reports.
The company has started its first project in Uttar Pradesh involving the plantation of Jatropha in a million acres of wasteland, BPCL Chairman and Managing Director Ashok Sinha told reporters.
"Entry into the non-conventional areas is driven by our strong belief that these offer great potential in meeting the country's growing energy needs," Sinha said.
Consumption of biodiesel can help to reduce country's oil import by five per cent by 2015 and 10 per cent by 2020.
The government has set an indicative target for blending 20 per cent in petrol and non-edible oil from plants like Jatropha in diesel by 2017.
Petrol mixed with five per cent ethanol is at present sold in the country and pilot projects are on to check viability of selling diesel doped with non-edible oil.
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