Essar to invest Rs 5,100 cr to set up bio-fuel complex in Gujarat, inks MoU at VGRC

Ahmedabad: Essar Future Energy Ltd 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 an MoU with the state government at 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, 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. PTI