Biofuel: Nafed Signs Deal With IOC to Curb Carbon Emissions

Last week, agro co-op giant NAFED inked an MoU with Indian Oil Corporation (IOC) in order to increase biofuel production in the country in order to reduce carbon emissions, among other things. 

The event was attended by senior officials from Nafed and the IOC. 

"MoU b/w IOC & NAFED was signed on 15 Feb 2022 to set-up Bio-fuel projects, Plants for post-processing of products viz Cattle feed & Marketing of end products of CBG," the Agri cooperative posted on social media. The event was attended by senior executives from both organisations. NAFED is dedicated to achieving a greener and more sustainable future." 

"IOCL is taking the lead in terms of putting up plants for the development of Bio-CNG so that farmers may contribute biomass instead of burning it," top Nafed officials remarked. Bio-CNG will be bought back and sold by IOCL." 

Earlier, the Agri cooperative declared that it will invest Rs 5,000 crore in a public-private partnership (PPP) to build 100 bio-CNG production plants utilising agri-waste such as stubble. 

The Agri cooperative Nafed had previously struck an agreement with M/S Shubham Enterprises for the establishment of bio CNG plants in order to expand its operations into other related activities. 

Farmers, communities, and the environment in the region would benefit from the initiative, which will contribute to Hon. PM Modi's Vision 2021 of making India a "Net Zero Emission Country by 2070?" 

Since its recovery, NAFED has dominated the news with a slew of new projects. Nafed has begun beekeeping in a big manner after posting a remarkable profit and paying out dividends after many years. 

In recent years, Nafed has advanced significantly throughout its duty of safeguarding the onion price line in the country. Union Agriculture Minister Narendra Singh Tomar introduced the agriculture cooperative Nafed's Saffron earlier this year, following the successful introduction of Canned Cherries. 

During Tomar's visit to Saffron Park in Pulwama, saffron was bought from FPOs in Kashmir under the Nafed Brand. The creation of FPOs is aided by Nafed. 

In North Bihar, Nafed has just initiated the establishment of FPOs for Makhana.