Ahmedabad, Jan 12 (PTI) Essar Future Energy Limited on Monday announced it would establish a large-scale bio-fuel complex in Gujarat's Devbhumi Dwarka district with a proposed investment of Rs 5,100 crore.
The company signed a Memorandum of Understanding (MoU) with the state government at the ongoing Vibrant Gujarat Regional Conference (VGRC) in Rajkot.
"The project involves a proposed investment of Rs 5,100 crore and is expected to generate around 350 direct employment opportunities, with operations targeted to commence by 2029," a release from the company said.
Under the MoU, Essar Future Energy will establish a large-scale bio-fuel complex in Devbhumi Dwarka district, with an initial feedstock processing capacity of 1 million tonnes per annum (MTPA), it added.
The project will be developed as an SEZ unit and will focus on decarbonizing hard-to-abate sectors, offering clean fuel solutions for aviation, shipping, and road transport, the release said, adding that it is expected to contribute to regional development while strengthening Gujarat's clean fuels and bio-energy ecosystem.
"As part of the state's focus on building a green energy ecosystem for energy independence, aligned with the vision of Viksit Gujarat-Viksit Bharat @ 2047, Gujarat continues to lead India's journey in industrial growth and energy transition. Essar is proud to be at the forefront of this transformation, partnering with the state government to develop future-ready, low-carbon energy solutions," Essar Future Energy Limited CEO Vibhav Agarwal said.
The MoU was signed in the presence of ministers Rushikesh Patel and Kaushik Vekaria as well as senior officials from the state's Energy and Petrochemicals department. PTI KVM PD BNM
