Bhubaneswar:16/12/18: The Sustainable Alternative Towards Affordable Transportation (SATAT) initiative that aims to boost availability of more affordable transport fuels, was launched today in capital city Bhubaneswar by Union Minister of Petroleum and Natural Gas and Skill Development and Entrepreneurship Dharmendra Pradhan.
Mr.Pradhan Met with investors, entrepreneurs and stakeholders on the sidelines of Road Show on SATAT to elaborate on the exciting investment opportunities in CBG. Sought investments to usher in a new revolution in automotive fuels.
Investments in CBG under SATAT has the potential to boost availability of more affordable transport fuels, better use of agricultural residue, cattle dung and municipal solid waste, as well as to provide an additional revenue source to farmers & agri-preneurs.
Ministry of Petroleum and Natural Gas will provide suitable environment to project developers/ investors/ entrepreneurs & offer them off-take guarantee of CBG at attractive prices for a period of 10 years which is further extendable.
The SATAT initiative also aims at better use of agricultural residue, cattle dung and municipal solid waste besides providing an additional source of revenue to farmers.
As part of SATAT, the Oil Marketing Companies (OMCs) are inviting Expression of Interest (EOI) to procure Compressed Bio Gas (CBG) from potential entrepreneurs and make available CBG in the market for use as automotive fuel. Under the initiative, it is envisioned that 5000 CBG plants would be established across the country with an estimated annual CBG production of 15 million tonnes by the year 2023, informed Pradhan during the launch.
In order to sensitise the stakeholders to participate in the SATAT initiative, the Public Sector OMCs like Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd, Hindustan Petroleum Corporation Limited and GAIL organized a roadshow today at Bhubaneswar.
This acted as a platform for various stakeholders such as prospective entrepreneurs, technology providers, financial institutions, FICCI, CII, UCA etc. to address the queries of the participants on setting up CBG Projects, support mechanisms available, CBG delivery logistics.