SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 28 Oct, 2023  

Punjab map THMB Punjab signs pact with HPCL for 10 compressed biogas plants

punjab map
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
IANS | 28 Oct, 2023
Punjab Energy Development Agency (PEDA) on Friday signed a memorandum of understanding (MoU) with Hindustan Petroleum Corporation Ltd (HPCL) for setting up ten compressed biogas (CBG) projects and other new and renewable energy projects in the state.

The pact was signed by Chief Executive Officer, PEDA, Amarpal Singh and Executive Director, HPCL, Shuvendu Gupta here in the presence of Ravi Bhagat, Secretary, New and Renewable Energy Sources, Punjab.

Gupta said HPCL would initially set up ten CBG projects with an investment of about Rs 600 crore. It will also explore possibilities of establishing other renewable projects.

These ten plants are expected to produce over 35,000 tonnes of CBG and about 8,700 tonnes of organic manure annually, besides generating revenue of around Rs 300 crore annually from CBG production.

The projects will also generate direct employment opportunities for more than 600 people and about 1,500 indirect jobs.

Amarpal Singh said with the implementation of these ten projects, at least 2.75 lakh tonnes of paddy straw will be prevented from being burnt in about 1.10 lakh acres.

This will prevent creation of CO2 emissions and other pollutants to the tune of five lakh tonnes annually, which is equivalent to planting 83,000 trees each year.

The projects will also create around 50 rural entrepreneurs for supply of paddy straw to these plants, further creating employment for more than 500 people.

Inviting other CBG developers for investment in the state, Punjab New and Renewable Energy Sources Minister, Aman Arora, said the government’s business-friendly and transparent policies have created the most conducive environment for industrial growth.

He emphasised that Punjab is an agrarian state and has an immense potential for crop residue-based CBG projects.

Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter