CEF Group to invest Rs 650 crore in Uttar Pradesh for biofuel production – EQ Mag
New Delhi: Energy solutions company, CEF Group will set up multiple waste processing plants in various locations in Uttar Pradesh to address the problem of waste mismanagement and augment bio-fuel production at an investment ₹650 crore.
CEF and the Uttar Pradesh government have signed an MoU for setting up the plants that will generate employment for approximately 240 people, the company said in a statement.
The plant will address the problem of waste mismanagement and augment bio-fuel production.
Maninder Singh Nayyar, CEO of CEF Group, said, “Uttar Pradesh is the largest state in the country which requires adequate waste management solutions, and we are capable of doing it. This agreement will prove beneficial for the entire state in various regards.”
The company said organic waste processing plants with captively grown Napier grass will also be utilized, bringing stable earnings for farmers. The project will be one of the largest ones of its kind in India.
“This is a direct replacement for chemical fertilizers in commercial farming. Therefore, enabling more scope for sustainable and natural/organic farming on a larger scale. We will be able to produce both biofuels and organic manure resulting in a sustainable environment,” he added.
Under the ongoing Invest UP streak, CEF Group has seized the opportunity to invest in the state this year with a proposed project named bio-fuels and allied products, in which CEF group will convert municipal solid waste, agricultural, industrial waste like press mud from sugar mills and other organic wastes into bio-fuels and allied products.
The projects will come in phases, with construction starting by the end of 2023. Different municipalities of Uttar Pradesh will provide the waste and land.
The overall set-up of the project with offtake arrangements of the bio-CNG and organic manure or city compost will be processed scientifically in the CEF waste processing plant.
Source: livemint
