Indo Rama Petro plans green energy options

Indo Rama Petrochemicals Ltd, part of the polyester manufacturing major Indo Rama Synthetics (IRSL), plans to take up power generation from renewable and non-renewable resources in a big way.

The company is planning a 125 MW coal-based power project near the coal fields of Makaradokra in Maharashtra, about 40 km from its plant near Nagpur, with an investment of Rs 605 crore.

The company also plans to invest Rs 50-150 crore in green energy options like solar, ethanol, wind and biogas, Chief Executive Officer Rajendra Srivasthav said.

"We are actively exploring various options for energy generation, both for captive consumption and for commercial use. We are ready to wire the rest of the production to the Maharashtra grid, depending on government clearances," he said.

Indo Rama's Butibori plant uses a 57 MW diesel-fuelled plant for captive consumption. The new coal-based plant will replace the diesel plant.

Indo-Rama is also scouting for suitable technology partners globally to take up non-renewable energy business in a big way within a few years, Srivasthav said.

Indo Rama's Butibori plant, which was expanded recently from 45,000 tonnes per annum to 60,000 tonnes per annum at a cost of Rs 800 crore recently, is one of the largest single-location plants in the world, producing about 6,00,000 tonnes per annum of polyester staple fibers, filament yarns, and textile grade chips.

The Rs 2,800 crore plus Indo Rama group is in the process of merging its petrochemicals business with IRSL, for administrative reasons.