In a bid to boost the production of biofuel in the country to curb carbon emissions, among others, agri co-op giant NAFED signed an MoU with Indian Oil Corporation (IOC) last week.
Senior officials of Nafed and IOC were present on the occasion.
Sharing the news on social media, the Agri cooperative wrote, “MoU b/w IOC & NAFED was signed on 15.02.22 to set-up Bio-fuel projects, Plants for post-processing of products viz Cattle feed & Marketing of end products of CBG. Senior officials of both organizations graced the occasion. NAFED is committed to working towards a greener & sustainable future”.
Top Nafed officials said, “IOCL is taking the lead in terms of setting up plants for generation of Bio-CNG so that farmers can supply biomass instead of burning it. IOCL will buy back Bio-CNG and sell the same”.
Earlier, the Agri cooperative announced that it will set up 100 bio-CNG manufacturing facilities using agri-waste such as stubble through public-private partnership (PPP) with an estimated investment of Rs 5,000 crore.
Earlier, in a bid to diversify business in other allied activities, the Agri cooperative Nafed had signed an agreement with M/S Shubham Enterprises for setting up bio CNG Plants.
The project will benefit Farmers, communities, and Environment in the region & contribute to Hon. PM vision 2021 for making India a ‘Net Zero Emission Country by 2070?.
Ever since its turnaround, NAFED has been hogging headlines for several new initiatives. Posting an impressive profit and doling out dividends after many years, Nafed has also started bee-keeping in a big way.
Nafed moved much ahead of its role of guarding the price line of onion in the country in recent times. After the successful launching of Canned Cherries, the agriculture cooperative Nafed’s Saffron was launched earlier by Union Agriculture Minister Narendra Singh Tomar.
The saffron was procured from FPO’s in Kashmir under Nafed Brand during Tomar’s visit to Saffron Park at Pulwama. Nafed is helping in the formation of FPOs.
Nafed has also recently launched the formation of FPOs for Makhana in North Bihar.