NRL signs bio-refinery termsheet with Finland's Chempolis Oy

Numaligarh Refinery Limited (NRL) as part of its efforts to implement its bio-refinery project, the first in the country, has signed a bio-refinery termsheet with Finland's Chempolis Oy in New Delhi.
The termsheet shall be the basis for formation of joint venture agreement for implementation of the project, a company release said here today.
It was signed on Friday by Chempolis Oy President, Asia-Pacific and America, Pasi Rousu, and NRL General Manager S D Maheshwari.
Top NRL officials and A Manickam, ex-ambassador of India to Finland and presently director of Chempolis India were present on the occasion.
A partnership agreement for the bio-refinery project was signed between NRL and Chempolis Oy in October 2014 in the presence of Indian President Pranab Mukherjee and President of Finland Sauli Niinisto.

NRL is implementing India's first bio-refinery project at an estimated cost of Rs 950 crore which would produce bio-ethanol with co-production of furfural and acetic acid from locally-available non-food biomass feedstock with technology from Finland.
The release further said 49,000 tonnes of bio ethanol produced annually would primarily be used to blend NRL petrol as mandated by the National Policy on Biofuel. The surplus is to be sold to other oil marketing companies.
The bio-refinery is expected to give a fillip to bamboo cultivation in the region and bring about a socio-economic transformation, it added.