Bengaluru-based KIS Group and Paras Dairy will form a joint venture to set up 10 BioCNG plants with an investment of ₹1,000 crore.
According to a joint statement, KIS Group and Paras Dairy have signed a Memorandum of Understanding (MoU) to set up 10 BioCNG (CBG) plants across Uttar Pradesh, Madhya Pradesh, Maharashtra and other states, with an estimated investment of ₹1,000 crore.
They will form a joint venture (JV) for the proposed BioCNG plants.
Under the partnership, KIS Group will be responsible for technology, construction and operation of the plants, while Paras Dairy will be responsible for feedstock arrangement, land and approvals.
The MoU was signed at the IBET Expo here.
Founded in 2006, KIS Group is a clean technology player specialising in Biogas, BioCNG, and BioLNG solutions. Paras Dairy has plants in Sahibabad, Guloathi and Sandila in Uttar Pradesh, Malanpur in Madhya Pradesh and Newasa in Maharashtra.