|‘Green Energy from Rural India’ a dream for clean fuel took shape on 6th February, 2009 when the JV, IndianOil-CREDA Biofuels Ltd. (ICBL) was incorporated for entering the biofuels value chain in the state of Chhattisgarh.
IndianOil and Chhattisgarh Renewable Energy Development Agency (CREDA), the nodal agency in Chhattisgarh for promoting renewable energy projects, hold 74 per cent and 26 per cent equity, respectively in this JVC. This JV has an authorised share capital of Rs 400 crores. IndianOil – CREDA Biofuels Ltd. envisages production of 30,000 metric tonnes (MT) of biodiesel per annum from energy crop plantation on 30,000 hectare of revenue wasteland. The feedstock will be generated by undertaking energy crop plantations (Jatropha,Pongamia etc.) on revenue wasteland in various districts of Chhattisgarh.
The company is governed by a Board of Directors with Mr. S K Sarangi (ED, RE&SD) as Chairman. Other directors include IOCL representatives namely Mr. D K Garg (DGM, BD Finance), Mr. Raju Ranganathan (CS), CREDA representative Mr. S K Shukla (Director, CREDA) and GoCG representative Mr. Umesh Aggarwal (Mission Director, National Rural Health Mission). A total of 9 Board meetings have been held till date with the 1st AGM conducted on 19th July’10.The CEO and CFO of this company are nominees of IOCL. The present CEO of ICBL is Mr. S. K. Chanda.
Nursery site at Raipur
The JV completed energy crop plantation(Jatropha curcas) on 771 hectare revenue wasteland in districts of Bilaspur & Sarguja. The company is in the process of completing plantation on 5000 hectares of revenue wasteland in the districts of Raipur, Korba, Sarguja and Bilaspur. The young company has contributed to IndianOil taking the lead in captive energy crop plantation in the country.
CSR activities are play an important role in a project which is closely linked to the community. As part of IndianOil’s CSR activities ICBL was actively associated in health camps organised through Helpage India in villages Newara & Bhamu in district Bilaspur in August’10. This is an important step to establish rapport and build confidence with local community. IndianOil was one of the sponsors of an awareness programme on climate change for school children in Raipur, Chhattisgarh with active participation of ICBL officers.
Plantation site in Bilaspur
A dedicated team of agric managers and plantation experts are executing the environment friendly project on ground involving the rural community. The team consists of a total of 14 officers ably supported by 38 no’s outsourced manpower consisting of field assistants, field supervisors and office assistants.
ICBL has established itself as a leading corporate in the arena of energy crop plantation in the state of Chhattisgarh and is poised to achieve greater heights in the coming years.
For more details, please visit http://www.icbl.co.in