BP to invest $9 mn in jatropha project

British Petroleum (BP) will invest $9.4 million in the production feasibility study of jatropha curcas planting to produce biodiesel by The Energy and Resources Institute (Teri) in Andhra Pradesh.

The project is expected to take 10 years to complete. According to the BP official, the project aims to plant jatropha in 8,000 hectares of wasteland to produce 90 lakh litres of biodiesel per annum.

Most of the investment will be utilised to install equipment such as seed crusher, oil extractors and processors. A full environmental and social impact assessment of all elements of the supply chain and life-cycle analysis of greenhouse gas emissions Is proposed.

Teri will be responsible for the day-to-day management and execution of the project.

"Recent developments have made green fuels economically attractive in view of the resource potential of this option. Factors like the environmental benefits associated with it, potential to generate employment and empowerment of the rural population, are also making it an attractive investment avenue," said RK Pachauri, director-general, Teri.