New Delhi: Power Finance Corporation Limited (PFC) and Assam Bio-Refinery Private Limited (ABRPL) on 13 February signed a loan agreement of ₹3,037.50 crore to establish a Bio-Refinery plant in Numaligarh, Assam.

The project, costing an estimated ₹4,200 Crore, aims to produce 2G Bioethanol and other chemicals using dry bamboo as raw material. This initiative is part of the broader Pradhan Mantri JI-VAN Yojana and National Policy on Biofuels 2018, aimed at promoting biofuels for a sustainable and secure energy future.

The agreement was formalized in the presence of senior officials from PFC, ABRPL, Oil India Limited (OIL), and Numaligarh Refinery Limited (NRL), indicating a collaborative effort towards renewable energy development in the North Eastern region of India.

The Bio-Refinery will utilize Chempolis’ second-generation bio-refining technology ‘FormicobioTM’ to produce ethanol and other products, marking a significant step in utilizing bamboo biomass for energy.