Business EconomyPosted at: Aug 6 2024 8:12PM


Swacch Bio to invest over Rs 1,000 cr in Telangana to establish 2G Bioethanol plant

Hyderabad, Aug 6 (UNI) The US-based Swachh Bio, a lignocellulosic biofuels manufacturing company, will invest over Rs 1,000 crore in Telangana.
After a successful meeting with Chief Minister A. Revanth Reddy, IT and industries minister D. Sridhar Babu, and the official Telangana delegation, who was on US tour, the company announced that it would soon establish a 250KLPD second-generation cellulosic biofuels plant in Telangana.
The firm announced a capital investment of over Rs 1,000 crore in the first phase, which will provide employment to 250 people at the plant and 250 people in additional support and other roles.
Praveen Paripati, Chairperson, Swacch Bio, met with CM A. Revanth Reddy and D. Sridhar Babu, Minister for Industries, here late Monday.
Swacch Bio’s international partner, Suganit Biorenewables, has developed a patented and viable technology for producing biofuels and biochemicals from biomass and cellulose, which would add to the Telangana government’s active efforts towards sustainable and eco-friendly growth in the state.
During the meeting, the CM assured all required support to the company towards its investment in the state.
Praveen Paripati said, “We were highly impressed with the vision of decentralised development of Telangana by the new government, led by CM Revanth Reddy. We are excited to partner with the state and be part of its development and transformation journey; as much as we are sure, it will help us grow tremendously in the coming years.”
The company also said that they plan to set up additional plants in Telangana in the near future and contribute to making the state a biofuel hub.
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Tags: #Swacch Bio to invest over Rs 1#000 cr in Telangana to establish 2G Bioethanol plant
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