Indian Sucrose enters in CDM Project to earn Carbon Credits

Indian Sucrose Ltd has announced that the Company is in advanced stage of availing benefits of carbon credits under CDM (Clean Development Mechanism) of Kyoto Protocol under United National Framework Convention on Climate Change (UNFCCC).

Under CDM mechanism the company is revamping its existing steam system and has installed a new 12 MW (Mega Watt) backpressure Power Turbine that would help the company to generate extra power, which would be sold outside to generate extra revenues.

M/s Ernst & Young have been appointed as the consultant for the project. The Meeting with the Host Country Authority i.e., Ministry of Environment and Forest, Govt. of India, has already been held on August 31, 2006 and the Host Country Approval is expected to obtain within a week. M/s TUV Nord has been appointed as the Validation Agency for the Web Hosting of the PDD of the Company on UNFCCC site and for giving Validation Report on the project.

Source : Equity Bulls

Keywords