The Hindu Business Line : HPCL ties up with Chhattisgarh

Hindustan Petroleum Corporation Ltd on Monday signed a memorandum of understanding with Chhattisgarh Government and Chhattisgarh Renewable Energy Development Agency (CREDA) for the formation of joint venture company to undertake jatropha plantation on 15,000 plus hectares in the State, according to a press release issued by the company. CREDA is a State Government body under the Department of Energy constituted for the development of renewable energy sources in Chhattisga rh. According to the MoU, HPCL will hold 74 per cent equity and the rest would be held by CREDA. The responsibility of obtaining wasteland for plantation of jatropha from the Chhattisgarh Government would rest with CREDA. The entire produce of jatropha seeds from the cultivated land would be sold exclusively to HPCL. The bio-diesel would be sold through HPCL retail outlets in Chhattisgarh. The MoU was signed by Mr C. S. Krishnaswamy, General Manager (R&D) of HPCL, Mr Vivek Dhand, Principal Secretary (Energy & Water resources) Chhattisgarh Government and Mr S K Shukla, Director – CREDA.

— Our Bureau

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