Essar Future Energy Limited has inked a MoU with the Gujarat government for the development of a large-scale biofuel complex in Devbhumi Dwarka district, Gujarat. The complex will have an initial feedstock processing capacity of 1 million tonnes per annum. The project will aim to decarbonise hard-to-abate sectors by providing clean fuel alternatives for aviation, shipping, and road transport.
Furthermore, the project involves a proposed investment of around Rs 51 billion. The operations of the facility are scheduled to commence by 2029. Additionally, the facility is also expected to generate around 350 direct employment opportunities.
Essar Future Energy is a Mumbai based company specialising in investing and developing assets to create value in core sectors such as energy, infrastructure, metals and mining, and technology. It is present in eight countries and generates revenues of $15 billion.
