Ruchi Soya Industries (RSIL) and Indian Oil Corporation (IOC) signed a
Limited Liability Partnership Agreement to form ‘Indian Oil Ruchi Biofuels LLP’.
Indian Oil Ruchi Biofuels LLP is expected to undertake jatropha plantations
in 50, 000 ha in the districts of Jhansi and Lalitpur. The company will also set
up oil extraction unit and a transesterification plant having a capacity of 300
tpd. Ernst & Young have been selected as consultants to asses this project.
The total project cost is Rs 436 crore, part of which will be funded by the
Uttar Pradesh Government under the National Rural Employment Guarantee Scheme (NREGS).
The equity of Rs 126 crore is likely to be funded by IOC and RSIL on 50:50
basis.