Power Finance Corporation Limited (PFC) has signed a loan agreement worth about Rs 32 billion with the Japan Bank for International Cooperation (JBIC) to finance a bamboo-based bio ethanol and chemicals project in Assam.
The loan was signed under JBIC’s Global Action for Reconciling Economic Growth and Environmental Preservation (GREEN) initiative and is co-financed by Sumitomo Mitsui Banking Corporation and other Japanese banks. The financing will support Assam Bio Ethanol Private Limited’s second-generation bio-ethanol and chemicals plant in Assam, which will use bamboo as feedstock.