India: biodiesel plant in Gujarat India-based Nova Oleochem (Mumbai, India) is planning to set up a biodiesel plant and three captive power plants in Gujarat.The plant will be designed to produce I 10,000 liters of biodiesel per day and each of the power plants will have a generating capacity of 2.5MW.The feedstock for the plant will be Jatropha curcus, and the power plants will use agricultural waste as feedstock Jatropha plantations will be spread over 10,000 hectares of wasteland, and Nova Oleochem has already obtained approval in principle from the state government. Plans are on to extend the plantation area to the states of Karnataka and Rajasthan. Land acquisition is expected to be complete within the next three to four months, and the cultivation should begin by the end of March 2009. Power generation is scheduled to begin a year after the land is acquired, and the plant should be ready to begin operations after three years.The company plans to invest over USD 56 million in the project. About 55% of the funds will be sourced from internal sources, and the remaining amount will be obtained from private investors. Currently, the company is in discussions with various banks in order to fund the plantation project
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