THE
ECONOMICS TIMES Our Hyderabad Bureau THE UNION Environment Ministry has granted "host country approval" to Hyderabad's Southern Bio Technologies for its proposed bio-diesel project in the state. The approval is under the terms of the clean development mechanism of the Kyoto Protocol. With the government approval, the company can sell certified emission reductions to global carbon purchasers under the terms laid down by the United Nations framework convention for climate change. Southern Bio Technologies Managing Director N Satish Kumar said in a statement "We are delighted that the government has granted host country approval to the first bio-diesel project in the country." He said a consortium of German companies, the World Bank and other private groups have evinced interest in purchasing carbon from the company. Southern Bio Technologies will produce bio-diesel by processing from raw oils of pongamia and jatropha at a plant located at Chautupal in Nalgonda district. According to a detailed report prepared by consultant Zenith Energy, greenhouse gases equivalent to 27,000 tonnes of carbon dioxide will be avoided each year from the production of 30 tonnes of bio-diesel per day. |
