Tata Chemicals Ltd’s overseas unit, Tata Chemicals Asia Pacific, will invest S$25 million in a Singapore-based joint venture to propagate jatropha seedlings, used to produce environment friendly bio-fuels. The Singapore joint venture, JOil Pvt Ltd, has been set up by the Temasek Life Sciences Laboratory along with other investors in Singapore.
Tata Chemicals has taken a 35 percent stake in the joint venture. The agreement is aimed at boosting Tata Chemicals bio-fuels foray and will give Tata Chemicals exclusive marketing rights for JOil's jatropha seedlings in India and East Africa. The Indian firm will also be given preferential price for seedlings it requires for its own cultivation of jatropha.
Tata Chemicals is currently doing trial rounds for jatropha cultivation in Gujarat, Maharashtra, Tamil Nadu and Andhra Pradesh, and plans to start trials in Kenya as well. It would develop the seedlings on semi-arid wastelands, which are conducive for jatropha cultivation.