Indian Companies Buying Overseas Land for Biofuel Production
LiveMint.com reports that India’s Shapoorji Pallonji & Co. Ltd is looking to purchase land in South America and Africa for its biofuel projects. Nandan Biomatrix Ltd. and Labland Biotech Pvt. Ltd. are looking to buy land in Malaysia to grow jatropha. Labland is also teaming up with a Portuguese company for a jatropha cultivation project in Mozambique. With land acquisition in India becoming controversial over industrial acquisitions, many companies are looking into purchasing land overseas.
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