The State Investment Promotion Board (SIPB) on Tuesday okayed a proposal to establish a Rs 1,500 crore solar power plant in Banka district and a Rs 148 crore biomass power plant in West Champaran.
The two proposals were a part of 94 new ones encompassing sectors such as food processing, manufacturing, plastic, rubber and others. Together they are expected to bring an investment of Rs 2,166 crore.
Industries department principal secretary S. Siddharth said: “The SIPB meeting was chaired by development commissioner Arun Kumar Singh. With stage-I clearance to 94 new investment proposals we have so far cleared a total of 880 proposals that are expected to bring Rs 12,265 crore under the Bihar Industrial Investment Promotion Policy.”
After SIPB consent, the proposals have to be cleared by various departments within 30 days, as the Bihar Industrial Investment Promotion Policy mandates, else they will be deemed to be approved. After that the proposals go for financial clearance, which makes them eligible for various concessions given to them by the state government.
Siddharth added that the most important among the new proposals was the Rs 1,500 crore solar power plant that would be established by a private company called Giriraj Renewables Private Limited in Banka.
On the other hand, the biomass-based power plant in West Champaran will be set-up by one Tirupati Sugars Limited. Sugarcane residue after being used in sugar production will be used as biomass to generate electricity.
News Source : The Telegraph