Oil India, GPS Renewables To Form JV To Set Up Compressed Biogas Plants
Andhra Pradesh MSME Minister Kondapalli Srinivas has laid the foundation stone for a Rs 100-crore biogas plant in Srikakulam district. The upcoming facility is expected to generate direct employment for nearly 500 people and benefit around 1,000 farmers indirectly. The biogas plant will be built in Santa Uriti in G. Sigadam mandal of the district.
Srikakulam District Collector Swapnil Dinakar Pundkar announced that similar biogas plants are planned for Palasa and Ichapuram as well, a move that will further boost job opportunities for local youth.
Speaking at the event, Kondapalli Srinivas said the NDA coalition government is committed to creating employment and attracting global investments to Andhra Pradesh. He noted that the two-day CII Partnership Summit in Visakhapatnam is projected to draw investments worth nearly Rs 9.76 lakh crore.
He further added that around 300 delegates from 45 countries will participate in the summit. The event will feature eight globally renowned speakers and include 37 plenary and country-specific sessions. CXOs of leading companies, financial experts, representatives from multiple nations, and several Union ministers are also expected to attend.
Biogas scenario in Andhra Pradesh
Of late, Andhra Pradesh has risen as a model for managing its bio-waste through various waste to energy initiatives across the state. Last year, Minister Ponguru Narayana said that his government plans to set up 13 waste management plants, one in each of the state’s erstwhile districts, after studying advanced waste-processing technologies in Singapore and Tokyo.
Reliance Industries has promised an investment of Rs 65,000 crore for establish 500 CBG projects across Andhra Pradesh over the next five years. Each biogas plant will require an investment of Rs 130 crore and will be developed on wastelands.
Under its new integrated clean energy policy, Andhra government offers incentives including 20% capital subsidy on fixed capital investments for compressed biogas plants over five years.
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