GAIL (India) Limited and VERBIO India Private Limited recently signed a Memorandum of Understanding (MoU) to collaborate on the development of Agricultural Residue-based Compressed Biogas (CBG) facilities in India.
The MoU was signed in the presence of Shri Sandeep Kumar Gupta, C&MD, GAIL’s functional Directors, and Shri Claus Sauter, Founder/CEO, VERBIO Group.
As per the terms of the MoU, the parties aim to collaborate to identify suitable locations for the establishment of greenfield Agri Residue-based CBG facilities in a Joint Venture mode. The parties plan to carry out feasibility studies for the specified projects. Based on the results of the research, the parties will seek investment approval from their respective management for investment in the projects and forming a JV company.
Furthermore, in line with the MoU, GAIL may consider acquiring equity in VERBIO’s existing CBG plant in the state of Punjab.
