Swacch Bio to invest over Rs 1,000 crore in Telangana to establish 2G Bioethanol plant

HIGHLIGHTS:
• Swachh Bio, a lignocellulosic biofuels manufacturing company, to invest over Rs 1,000 crore
• Firm will establish a bio-fuels plant in Telangana
• Agreement will lead to creation of 500 jobs

After a successful meeting with Chief Minister A. Revanth Reddy, IT and Industries Minister D. Sridhar Babu, and the official Telangana delegation, Swachh Bio, a lignocellulosic biofuels manufacturing company focused on providing energy solutions for a sustainable future, announced that it would soon establish a 250KLPD second-generation, cellulosic biofuels plant in Telangana.

The firm announced a capital investment of over Rs 1,000 crore, in the first phase, which will provide employment to 250 people at the plant, and 250 people in additional support and other roles.

Praveen Paripati, Chairperson, Swacch Bio, met with CM A. Revanth Reddy, and D. Sridhar Babu, Minister for Industries, here late Monday.

Swacch Bio’s international partner, Suganit Biorenewables, has developed a patented and viable technology in producing biofuels and biochemicals from biomass and cellulose, which would add to Telangana government’s active efforts towards sustainable and eco-friendly growth of the state. The government guaranteed all required support to the company towards its investment in the state.

Mr Praveen Paripati said, “we were highly impressed with the vision of decentralized development of Telangana by the new government, led by CM Revanth Reddy. We are excited to partnering with the state and being part of its development and transformation journey, as much as we are sure, it will help us grow tremendously in coming years.”

The company also said that they plans to set up additional plants in Telangana in coming times and contribute to making the state a biofuels hub.