State-run oil refiner-marketer Bharat Petroleum Corporation Ltd’s Assambased facility Numaligarh Refinery Limited (NRL) has signed a term sheet with Chempolis Ltd, a Finland-based bio refining technology for setting up a bio-refinery unit.
The term sheet will be the basis for formation of a joint venture agreement for implementation of the project. A partnership agreement for the biorefinery project was signed between NRL and Chempolis in 2014. According to a statement from NRL, the company is implementing India’s first bio-refinery in Assam at an estimated cost of Rs 950 crore which would produce bio-ethanol with co-production of furfural and acetic acid from locally available non-food bio-mass feedstock. Bamboo is one of the major non-food biomass resources available abundantly in North East India and is among the fastest growing plants.