Market Updates

Biochem and Gujrat Government Signed MOU for Biorefinery Construction

February, 2019

The US based firm BioChem and the Gujrat government signed a Memorandum of understanding to construct biorefinery in Dahej Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) Gujrat and an ethanol to ethylene plant near Vadodara.

As per the MOU the biorefinery set up by BioChem will produce ethanol derived from plant based raw materials such as, corn. The refinery is expected to process 10 lakh tons of corn and around 3 lakh tons of biomass yearly to bio-jet fuel, bio-ethanol and protein feed for animal. The project is expected to generate 2,000 new jobs and an investment of around ₹2,000 crores by end of 2021. Along with the biorefinery, an ethanol to ethylene plant will be set up with an investment of ₹1,000 crores in Koyali.

The signing of MOU between Yogi Sarin, CEO of BioChem and M.K Das, the principal secretary of industries and mines segment, was done in presence of Vijay Rupani, chief minister. As per the principal secretary, the import dependency in India for bio fuels will come down owing to this project. Other benefits of this project will be ease to farmers as the can sell their crops directly to the refinery, new job creation and reduction of environmental pollution as ethanol burns cleanly.

The project will require around two years for installation after finalizing the financial details. Thus, is expected to be operational by late 2021.

About BioChem:  The US based firm focuses in green and sustainable future. This firm is a manufacturing entity of Petron Scientech. Petron Scientech is one amongst the leader in the segment biorefineries, bioEthylene Oxide, bioEthylene and bioGlycols.

— Vasundhra Singh,
Assistant Research Executive,
Infoholic Research