Tata Chemicals to embark on biofuel production

“Biofuel will be a major thrust area for our business in the future…We are looking at business opportunities domestically and internationally, both in terms of production as well as marketing,” Tata Chemicals Executive Vice-President R. Mukundan said. Tata is building a biofuels plant in Maharashtra that will produce 30 kiloliters per day initially. The company plans to fund the new business initiative from the US$100 million raised earlier through a private placement of equity shares, Mukundan said. The plant is expected to be on stream in 2009. (October 22, 2007)