Essar Future Energy Limited inked a Memorandum of Understanding (MoU) with the Government of Gujarat during the Vibrant Gujarat Regional Conference in Rajkot. The agreement entails the establishment of a significant biofuel complex in Devbhumi Dwarka district, with an initial processing capacity of 1 million tonnes per annum (MTPA).
The project, requiring an estimated investment of Rs 5,100 crore, aims to create about 350 direct job opportunities and is scheduled to kick off operations by 2029. It will be set up as a Special Economic Zone (SEZ) unit, focusing on reducing carbon emissions in challenging sectors by providing clean fuel options for aviation, shipping, and road transport.
The MoU signing ceremony was attended by Hon’ble Cabinet Minister Rushikeshbhai Patel, Hon’ble Minister of State Kaushikbhai Vekaria, and other senior officials from the Energy & Petrochemicals Department of the Government of Gujarat. Essar Future Energy Limited’s CEO, Vibhav Agarwal, expressed enthusiasm about the collaboration, emphasizing the company’s commitment to developing environmentally friendly, low-carbon energy solutions in line with Gujarat’s vision for a green energy ecosystem and industrial growth.
The project is anticipated to not only boost regional progress but also enhance Gujarat’s clean fuels and bio-energy sector.
