Business Daily from THE HINDU group of publications
Monday, Oct 08, 2007
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Business Daily from THE HINDU group of publications Monday, Oct 08, 2007 ePaper |
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Agri-Biz & Commodities
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Alliances & Joint Ventures IKF Tech signs pacts with Thai cos for jatropha plantations
JV plantations with Kiwin and Kondanna will come up in Thailand and north east India The project expected to create 5 lakh jobs per annum in the north-east region Company may gain Rs 88 crore through the sale of carbon credits Mohan Padmanabhan Bangkok, Oct. 7 Even as the Ministry of Department of North Eastern India (DONER), headed by Mr Mani Shankar Aiyar is mounting road shows in Bangkok to attract Thai investments into North East, the city-based IKF Technologies Ltd, already engaged in jatropha-based bio diesel production, has signed joint venture agreements with two Thai companies – Kiwin Co Ltd and Kondanna Group Co (an associate of US-based Kondanna Energy and Petroleum Co Ltd) — for jatropha plantations, in both Thailand and North East (for bio diesel) and also supply of fly ash from India in packaged form. IKF has already created jatropha plantations in 30,000 acres in Jaintia Hills area of Meghalaya, alongwith inter-cropping in an additional area of 1,000 acres. IKF also has a presence in the Giridih area of Jharkhand. Talking to Business Line in Bangkok recently at the sidelines of the first ever North East India Trade and Investment Opportunities Week, Mr G.N.Gupta, director of IKF, said IKF was already into sectors like bio diesel, IT/BPO and telecom, with a substantial presence in the North East (Guwahati, Shillong and Aizawl). He said the Thai partner, Kiwin, will help in joint promotion of a sugarbeet-based ethanol project in Thailand. He said the plan was to also explore opportunities for mini hydel projects in Arunachal Pradesh. Mr Gupta said the company was on the look-out for investment proposals in areas like jatropha plantation, jatropha-based bio diesel, tropical sugarbeet-based ethanol and hydel projects. The agreement for supply of one million tonnes of fly ash annually from India is with Kondanna has already been finalised, said Mr Akash Kumar of IKF, who is the chief architect of the project study. The JV agreement for the ethanol project is between Salampuria Botanicals of IKF and the Thai outfit of the New York-based US company, said to be a global player in steel scrap. Pointing out that the plan was to create jatropha plantations in both North East of India and Thailand, Mr Gupta said the initial investments would be around $50 million. As per the feasibility study already prepared by IKF, some 5 lakh jobs per annum could be created in the north east through the plantation-bio disel venture, said to come up in an area of one lakh hectares. Mr Kumar said besides the bio diesel from jatropha, the study has projected earnings of nearly Rs 88 crore through carbon credits. He said the proposed ethanol plant in the north east (site not yet finalised) would entail an estimated capital cost of $ 20 million. More Stories on : Alliances & Joint Ventures | Non-conventional Energy | Plantations
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