India’s first biodiesel plant on stream

India’s first biodiesel plant went on stream in October with Hyderabad-based Naturol Bioenergy starting production at its factory in Kakinada, Andhra Pradesh. Its entire annual production of 30 million gallons is committed for export to customers in the U.S. and Europe. Meanwhile, the company said it would raise US$100 million through an equal debt-equity mix to fund its expansion plans. Total investment in the plant was Rs140 crores (US$35.7 million) which was funded from venture capital funds, bank loans and contributions from the promoters’ family. Naturol’s Managing Director and Chief Executive Officer C.S. Bhaskar said, “We want to reduce the dependence of imports through Jatropha cultivation.” (October 13, 2007)