Scania and Swedfund invest to develop biogas as automotive fuel in Indian city
31 March 2015
Scania and the development financier of the Swedish state Swedfund are establishing a partnership to develop the production of biogas as an automotive fuel in the Indian city of Nagpur, which is located in the state of Maharashtra and has 2.5 million inhabitants. The biogas will be produced from digested sludge from one of the city’s wastewater treatment plants in collaboration with local companies. Nagpur is participating in the Indian Government’s initiative to improve the environment and transport systems in the country’s 100 largest cities.
The agreement between Swedfund and Scania was signed at the inauguration of Scania’s bus manufacturing facility in India by the companies’ chief executives Anna Ryott and Martin Lundstedt in the presence of Sweden’s Minister of infrastructure , Anna Johansson and Shri. Nitin Gadkari, Honourable Minister of Road Transport and Highways of India.
The plans for the biogas project were presented today in connection with the inauguration of Scania’s bus facility in Narasapura in Karnataka state.
Today India ranks third in terms of global carbon dioxide emissions, and these emissions are expected to double in the next few decades. In line with the country’s continued urbanisation, the quantity of waste produced in the cities is also increasing.
Swedfund, which is owned by the Swedish state, offers risk capital, competence and financial support for investments in growth markets in Africa, Asia, Latin America and Eastern Europe. The task is to reduce poverty by creating sustainable business, which contributes to economic, environmental and social development. Since 1979, Swedfund has been an active, responsible and long-term investor in more than 230 companies.
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