August 13, 2007 (The Economic Times) — VIJAYNAGAR: JSW Steel, the flagship company of the $6 billion O P Jindal Group, is betting big on Jatropha plantation around its Vijaynagar plant aiming to blend the bio-fuel with diesel for captive use.
The company, which had already started Jatropha plantation on 120 acres of barren land from 2005-06 with 50 acres, has plans to set up a bio-fuel extraction unit within the Vijaynagar facility in the coming days.
“We are currently motivating local farmers to start Jatropha cultivation on waste land with an assured buyback guarantee. This will not only help them to earn extra money out of their barren land but also help us to extract bio-fuel to mix with diesel for captive use,” a company official said.
He said that the company has plans to plant Jatropha over 1,500 acres of land over a period of time in association with the farmers in the neighbourhood and through NGOs.
The company is in talks with different Government departments including the forest department to allow it uncultivable land close to the Vijaynagar unit for plantation.
“We need a lot of diesel, particularly when our plant capacity would go up to 10 million tonnes a year from 3.8 million tonnes now. Our aim is now to encourage farmers to start plantation on their barren land to earn extra money,” he said.