NRL and Chempolis Oy sing term sheet for bio-refinery joint venture
The Term Sheet shall be the basis for formation of joint venture agreement for implementation of the project.
The Term Sheet was signed by Pasi Rousu, President Asia Pasific and America of Chempolis Oy and NRL’s General Manager (Finance) SD Maheswari in presence of P Padmanabhan, MD of NRL, SK Barua, Director (Finance) of NRL, A manickam, former Ambassador of India to Finland and present Director of Chempolis India and other senior officials of NRL.
A partnership agreement for the Bio Refinery project was signed between NRL and Chempolis Oy on October 15, 2014 in presence of visiting India President Pranab Mukherjee and Finland PresidentSauli Niinisto in Finland.
NRL is implementing India’s first Bio-Refinery in Assam at an estimated cost of Rs 950 crore which would produce bio-ethanol with co-production of furfural and acetic acid from locally available non-ffod bio-mass feedstock with formicobio technology from Finland based technology provider Chempolis Oy.
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