Aimed at checking stubble burning and boost renewable energy sector, Punjab Government on Monday signed a Memorandum of Understanding with Virgo Corporation for a Rs 630 crore Biofuel project, for which technology will be provided by the US giant Honeywell.
As per the agreement, Virgo will use the technology to extract bio jet fuel from rice husk to set up a Rapid Thermal Processing plant, which will provide over 150 direct and 500 indirect jobs.
The project would pave the way for potential future collaborations in terms of investments, technology transfer etc between Punjab and the US, an official spokesperson said after the signing of the MoU in the presence of Chief Minister Capt Amarinder Singh and US Ambassador to India Kenneth I Juster, besides Virgo’s managing director Kanav Monga.
Capt Amarinder said that the project would go a long way in containing the pollution due to stubble burning, besides supplementing farmers’ income by helping turn the unmanageable agro-waste into raw material for producing bio fuel.
