India’s Tata Chemicals to produce biofuel in Mozambique

28 January 2011

Mumbai, India, 28 Jan – Indian company Tata Chemicals has earmarked US$15 million for an initial investment in biofuel production in Mozambique, the company’s chief financial officer, P.K. Ghose, said Thursday in Mumbai.

According to Indian daily newspaper The Economic Times, the CFO also said that the company would invest US$100 million to increase its soda ash production by 400,000 tons.

On Thursday, Tata Chemicals also said it had posted a consolidated net profit of 1.65 billion rupees on turnover of US$28.59 billion in the fourth quarter of 2010. (macauhub)