Business Daily from THE HINDU group of publications
Sunday, Jun 15, 2008
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Business Daily from THE HINDU group of publications Sunday, Jun 15, 2008 ePaper | Mobile/PDA Version | Audio |
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Outlook Industry & Economy - Non-conventional Energy Naturol Bioenergy to export first shipment to Europe Our Bureau Hyderabad, June 14 Naturol Bioenergy Ltd said it will be sending its first shipment of 10,000 tonnes of biodiesel from Kakinada port in the next 10 days to a European buyer. Addressing a press conference here recently, Mr Bhaskar Chalasani, Managing Director and Chief Executive Officer of Naturol Bioenergy Ltd, said, “The fully integrated oleo-chemical complex, established near Kakinada, has a capacity to produce 30 million gallons (one lakh tonnes) of biodiesel a year. It can also produce bio fatty acids as by-products and would be scaled up to produce 75 million gallons a year depending on the market demand.” The company, a 100 per cent export-orient unit, plans to export 10,000 tonnes of biodiesel costing around Rs 50 crore every six weeks. Mr Chalasani said the company reduced its dependence on palm crude by 20 per cent and the same would be brought down by 40 per cent next year. It instead plans to use fatty acids as the source for making biodiesel. Naturol was set up with an investment of Rs 140 crore, of which Rs 84 crore was through debt by the IDBI-led consortium of banks. Of the remaining amount, 60 per cent by three venture capital funds and the remaining was invested by promoters’ group. Company expectationsThe company is also planning to expand its storage capacity and take up cultivation of feedstock for the raw material by supplying seed to farmers in India, Indonesia and East Africa. Mr Chalasani said the plant was equipped to handle a variety of feedstock including rapeseed oil, jatropha and palm and it has a capacity of producing one lakh tonnes of pharmaceutical grade glycerine. The company, which declared commercial production on April 28, expects the turnover to touch Rs 419 crore in the remaining 11 months of the fiscal. More Stories on : Outlook | Non-conventional Energy | Exports & Imports
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