New Delhi, Feb 27: In its attempt to promote the vision of a clean and green India, Petroleum Minister Dharmendra Pradhan here on Wednesday handed over 100th Letter of Intent under SATAT scheme to produce compressed biogas.
SATAT is an initiative aimed at providing a Sustainable Alternative Towards Affordable Transportation as a developmental effort that would benefit both vehicle-users as well as farmers and entrepreneurs.
Mr Pradhan briefing reporters here reiterated that spreading the gas grid fed by CBG from thousands of such plants across the country would significantly reduce country's import burden and provide an economical and environment-friendly alternative to conventional petroleum fuels.
"CBG is a waste to wealth venture. The scheme is lucrative for the prospective entrepreneurs, as it provides guaranteed rate of return, assured take-off by oil marketing companies, there is availability of abundant raw material, and with no condition of any technology," he said.
The Minister said that the banks are ready to provide support to such projects due to their good viability. He also informed that the government is in talks with the UN environment fund and Japanese Government for providing soft loans for such projects.
The Minister said that CGD system will be available in 400 districts, providing ready market for the Compressed Biogas. Lauding the efforts of PSUs involved in the project, he said that within 5 months of its launch, over 100 LOIs have been issued.
He expressed the hope that within a short period, thousands of such plants will be operational in the country, providing employment, reducing import dependence, helping in garbage management, and also enhancing the income of farmers. (UNI)