Luthra And Luthra Law Offices India Advised Assam Bio-Refinery On Raising Term Loan From Power Finance Corporation

Luthra And Luthra Law Offices India Advised Assam Bio-Refinery On Raising Term Loan From Power Finance Corporation

Luthra and Luthra Law Offices acted for and advised Assam Bio-Refinery Private Limited, a joint venture between Numaligarh Refinery Limited, Fortum 3 B.V. of Netherlands, and Chempolis OY of Finland, in securing a substantial term loan of INR 3037.50 Crores from Power Finance Corporation Limited. This financing will fuel the establishment of a Bio-Refinery plant in Numaligarh, Assam, dedicated to the production of 2G Bioethanol and other chemical derivatives from dry bamboo as the primary feedstock.

The Bio-Refinery, leveraging Chempolis' cutting-edge FormicobioTM technology, is poised to be a ground-breaking venture in harnessing bamboo biomass for energy purposes. This endeavor aligns closely with the Pradhan Mantri JI-VAN Yojana and the National Policy on Biofuels 2018, which champion the advancement of biofuels as a sustainable solution for India's energy needs.

Luthra and Luthra Partner Girish Rawat led the transaction Team, supported by Managing Associate Varun Chauhan and Associate Garima Upadhyay.

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