Tata plans to enter biofuels business

Tata Chemicals Ltd. plans to enter biofuel production and will invest Rs300 million (US$7.3 million) in the first phase to set up a plant in Maharashtra, India. “This is a large project and I believe we are capable of delivering significant value in this area,” Managing Director Homi Khusrokhan said. The company has set aside up to Rs500 million (US$12.3 million) for the project, and is also setting up a research and development center in Pune. The first bioethanol plant will have a capacity of 30 kiloliters per day, he said. (May 30, 2007)