State-owned Gail India and Trualt Bioenergy will set up 10 compressed biogas (CBG) plants with an investment of more than USD 72 million. The two companies have entered into a joint venture agreement for setting up the plants, according to a joint statement on Wednesday.
The statement said the joint venture, to set up 10 compressed biogas (CBG) plants, will be 51 per cent owned by Trualt and the rest of the equities to be held by Gail. The two partners will invest in excess of USD 72 million which will be funded through a combination of debt and equity, the companies said.
