Rajkot, Jan 12 (IANS) Essar Future Energy Limited on Monday signed a Memorandum of Understanding (MoU) with the Government of Gujarat at the Vibrant Gujarat Regional Conference in Rajkot.

Under the MoU, Essar Future Energy will establish a large-scale biofuel complex in Devbhumi Dwarka district, with an initial feedstock processing capacity of 1 million tonnes per annum (MTPA).

The project involves a proposed investment of Rs 5,100 crore and is expected to generate around 350 direct employment opportunities, with operations targeted to commence by 2029.

The project will be developed as an SEZ unit and will focus on decarbonising hard-to-abate sectors, offering clean fuel solutions for aviation, shipping, and road transport.

The MoU was signed in the presence of Hon’ble Cabinet Minister Rushikeshbhai Patel, Hon’ble Minister of State Kaushikbhai Vekaria and other senior officials from the Energy & Petrochemicals Department, Government of Gujarat.

Commenting on the development, Vibhav Agarwal, CEO, Essar Future Energy Limited, said, “As part of the State’s focus on building a green energy ecosystem for energy independence, aligned with the vision of Viksit Gujarat – Viksit Bharat @ 2047, Gujarat continues to lead India’s journey in industrial growth and energy transition. Essar is proud to be at the forefront of this transformation, partnering with the Government of Gujarat to develop future-ready, low-carbon energy solutions.”

The project is expected to contribute to regional development while strengthening Gujarat’s clean fuels and bio-energy ecosystem.

–IANS

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