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RIKA Biofules to invest $100-150 million to build Bio CNG plants in Punjab

Punjab signs a MoU, in the presence of Punjab Finance Minister Manpreet Singh Badal and Andrew Ayre, Deputy High Commissioner British High Commission, Chandigarh, to set up bio-gas and bio-CNG plants in the State, as part of the state’s concerted efforts to find sustainable solutions to paddy straw burning, which has emerged as a major environmental concern.

By Team ABLE

Punjab Bureau of Industrial Promotion (PBIP) and Punjab Energy Development Agency (PEDA) entered into an MoU with the UK-based Rika Biofuels Development Ltd to set up bio-gas and bio-CNG plants. Punjab Infrastructure Development Board (PIDB) will facilitate regulatory clearances and incentives by the state Government.

These plants will be based on a new patented Anerobic Digester concept and Straw Extruding Technology. Rika plans to build in excess of 10 Bio CNG plants with a total investment of $100-150 Million, creating up to 1,000 jobs across the whole operation and supply chain with the aim of having the first plant operational in 2019. The capacity of each Plant will be around 100 MT of Paddy straw intake daily.

“The Government of Punjab will facilitate identification of land parcels in various locations of the state for setting up the plants, and also ensure incentives and benefits as applicable for such plants under the State Industrial and Business Development Policy-2017 and the State NRSE Policy-2012”, said Mr Manpreet Singh Badal.

It is pertinent to mention that Rika Bio fuels is a specialist anaerobic digestion project developer, specialising in processing problem feed stocks including high volume manures and agricultural wastes such as crop straws.