Haryana Government sings MoU with Abjit Mercantile Private Ltd for setting up bio-refinery project
Author(s): SK VyasChandigarh, September 11, 2015: Haryana Government signed a Memorandum of Understanding (MoU) with Abjit Mercantile Private Limited for setting up a bio-refinery project to produce bio-diesel during Invest North event...
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Sep 11, 2015 12:30
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Chandigarh, September 11, 2015: Haryana Government signed a Memorandum of Understanding (MoU) with Abjit Mercantile Private Limited for setting up a bio-refinery project to produce bio-diesel during Invest North event in the presence of Chief Minister Mr.Manohar Lal and Industries Minister Capt. Abhimanyu.
As per MoU, a project with capital outlay of Rs 1470 crore (US$ 225 million) will be set up jointly with the world leaders, who will not only invest in the equity but also provide complete technical know-how on turn-key basis. The company will also invest Rs. 160 crore for setting up a state of the art Research and Development facilities. This project will be first of its kind project in Asia.
The MoU was signed in the context of Government’s objective to reduce dependence on imported crude oil in order to enhance the country’s energy security and to utilize the bio waste of Haryana as well as to boost the rural economy. This will also generate employment opportunities for the youth. Abjit Mercantile Private Limited is one of the most credible international traders of raw materials, agriculture produce and dry bulk commodities.
Apart from this, there were one to one meetings with various business establishments including Airbus, Packolabel, M J Logistics, Uber group. In a separate event, Principal Secretary Industries Mr. Devender Singh and Managing Director Haryana State Industrial and Infrastructure Development Corporation Mr. Vineet Garg met a delegation of Chinese investors in Delhi. / (SK Vyas, Jalandhar)
Date:
Friday, September 11, 2015
