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Mansi Oil ties up with overseas co for biodiesel foray
G. Chandrashekhar
Mumbai
,
June 20
Even as several corporates seriously explore venturing into the promising biodiesel business and for that purpose examine partnership options, at least one Indian company has succeeded in clinching a deal with an overseas partner for supply of plant and machinery and has managed to tie-up for marketing the product.
Kolkata-based Mansi Oils and Grains Private Ltd is in the process of setting up a biodiesel plant with 40,000 tonnes annual production capacity.
Mr Raju Mansinghka, Director and CEO, told Business Line that his company has already ordered plant and machinery from a London-based supplier with whom a buy-back arrangement has been made.
Equity stake
"In order to demonstrate willingness to share the equity risk for the successful completion of the project, my overseas partner has agreed to take an equity stake in the business," Mr Mansinghka said.
The plant to be located in West Bengal is likely to go on stream anytime between March and June next year. Monthly production would be between 3,000 and 4,000 tonnes. The material will most likely be exported to Europe, which is emerging as a major user of biofuel, especially biodiesel.
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