Natural gas company GAIL (India) Limited and truAlt Bioenergy Limited, a producer of ethanol in India, have signed a term sheet for GAIL’s equity participation in TruAlt’s joint venture company Leafinti Bioenergy Limited, which owns and operates India’s second compressed bio gas (CBG) plant, GAIL said in a statement.
“TruAlt Bioenergy and GAIL India shareholding in the JV would be 51 % and 49% respectively. The investment in setting up the CBG plants will exceed over $72 million and will be funded through a combination o f debt and equity. However, this will be subject to favourable outcome of due diligence and requisite approvals,” the statement added.
