PNB ties up with Assam Bio Refinery to increase production of bio-ethanol

Punjab National Bank (PNB) entered into an agreement with Assam Bio Refinery for increasing production of bioethanol by providing loans to farmers to grow bamboo.

Assam chief minister Himanta Biswa Sarma on September 25 attended the MoU singing ceremony between PNB and Assam Bio Refinery at a function in Guwahati.

As part of the MoU, PNB will provide loans to agriculture farmers to raise bamboo which Assam Bio Refinery will purchase to produce bioethanol.

Speaking on the occasion, chief minister Sarma while terming the occasion as a good beginning, said that the MoU will encourage and empower the famers to cultivate bamboo which in turn will help in producing green energy.

He said that the Assam government is working wholeheartedly to maximise the use of green fuel thus reducing contributing factors of environmental pollution. Referring to state government’s ethanol production promotion policy, Sarma said that the government is always on the look out to increase production of bioethanol.

Thanking PNB for its initiative in giving loans to the famers to encourage production of bioethanol, the chief minister said that the move would be a giant step towards empowering the farmers and entrepreneurs associated with bamboo cultivation. He also requested the bank to participate with the government in expediting the pace of development in the state, as the government is always with the bank to help its different ventures.

On the occasion, Sarma also presented loan sanction letters to a few farmers as a part of the bank’s mega credit camp.

Chief executive member Bodoland Territorial Region Promod Boro, managing director and CEO at PNB CH SS Mallikarjuna Rao, managing director at Assam Bio Refinery SK Baruah, zonal manager Northeast region PNB SS Singh also spoke on the occasion.

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