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Punjab govt inks MoU with Virgo Corp for biofuel project

Press Trust of India  |  Chandigarh 

The government Monday signed an MoU with a Delhi-based company for a Rs 630-crore project which will produce biofuel from rice husk.

for the project will be provided by the US giant

The company, Virgo Corporation, will use to produce biofuel from rice husk to set up a plant, which will provide over 150 direct and 500 indirect jobs, an official said.

The project would pave way for potential future collaborations in terms of investments, between and the US, the added.

The memorandum of understanding (MoU) was signed in the presence of and US to India

The project would go a long way in containing environmental pollution due to stubble burning, besides supplementing the income of farmers by helping turn the unmanageable agro-waste into raw material for producing biofuel, Singh said.

He pointed out that every paddy season, the state generates nearly 20 million metric tonnes of paddy straw, which would be scientifically utilised for manufacturing biofuel.

Singh hailed the project as a landmark that would be instrumental in generating

With the shift towards renewable energy, would also augment its power generation capacity with a commitment for a cleaner future, he added.

Besides incentivising farmers to sell their crop stubble in lieu of burning it, the project would support the government's requirements for national biofuel blending targets as well as important air quality initiatives, such as the National Clean Air Programme (NCAP), said the CM.

said the project was of critical importance as it demonstrated how collaboration towards a common vision could bring and positive change.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 11 2019. 16:25 IST