PFC to provide Rs 3,037 cr loan to Assam Bio Refinery for Numaligarh plant

State-owned PFC has inked a pact with Assam Bio Refinery Pvt Ltd (ABRPL) under which Rs 3,037.50 crore loan will be provided for setting up a bio-refinery plant at Numaligarh.

The 3 million tonne per annum plant will use dry bamboo as raw material, a statement said.

The plant will produce 2G bioethanol and other products such as furfuryl alcohol, acetic acid, liquid CO2 along with 24 MW bio-coal based captive power plant at an estimated project cost of Rs 4,200 crore.

ABRPL is one of the first bio-refineries to produce ethanol from biomass of bamboo.

It's a joint venture incorporated with three promoters -- Numaligarh Refinery Ltd and two foreign companies Fortum and Chempolis from Finland.