BPCL arm to spend Rs 2131 crore for setup of bio-diesel project in Uttar Pradesh

Submitted by Prema Kher on Thu, 02/05/2009 - 12:16

BPCLBharat Renewable Energy, a JV promoted by Bharat Petroleum Corporation (BPCL), has decided to invest Rs 2,131 crore in a bio-diesel project in Uttar Pradesh.

It may be noted that the company has already formed a joint venture company, along with Nandan Biomatrix and Shapoorji Pallonji & Co for producing bio-diesel, a proven source of alternative fuel. During initial phase, the company would concentrate in five districts - Kanpur, Jhansi, Laltpur, Chitrakoot and Sultanpur. The company plans to install nearly 200 oil extraction units in these five districts where 10 refineries would also come up. The JV firm is expected to produce one million tonne of bio-diesel by 2015 and the project is likely to start producing diesel in the next three to four years.

A company official said, the firm plans to continue planting Jatropha in the coming years in locations where vacant land is identified.

Apart from latest development, BPCL is also exploring the possibility of initiating similar projects in other states.


Tagged with

Miscellaneous

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Owner of Energy giant Reliance Industries, Mukesh Ambani has put in an extra 0.68% in EIH Ltd. With this, his total stake in the hotel chain has increased to 14.8%. In a filing to the Bombay Stock Exchange, EIH said that the shares were purchased from the market on Tuesday.

Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

On Thursday, Bajaj Auto posted a 55% increase in its sales of vehicles. In the month of August, the Company recorded sales of 3,29,364 vehicles, compared to 2,13,072 units in the same month the year before.

Last month, 2,89,176 two wheelers were sold by Bajaj Auto, a big surge than 1,82,441 units, which were sold in August 2009. The Company’s cumulative sales of two wheelers for the time frame between April and August 2010 increased by 68% and were recorded at 1,397,348 units. The number was high from 833,235 units that were retailed during the same period last year.

© Copyright 2010