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Hindustan Petroleum Corporation Limited a leading oil processing and marketing company and state government represented by Chhattisgarh Renewable Energy Development Agency has formed JV Company named CREDA - HPCL Biofuel Limited. Govt. of Chhattisgarh will lease 15000 hectares of vacant waste/barren land to CREDA who intern will enter into a separate license agreement with JVC on terms mutually agreed upon for a period of 30 years. The JVC i.e. CREDA HPCL Biofuel Ltd. will carry out plantation of Jatropha to produce Bio-diesel.
All expenses pertaining to the formation of JVC and cultivation and allied activities will be born by HPCL
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