Recently a Chennai based company NEWAY quot has signed a Memorandum of Understanding MoU with Punjab...........

Punjab Social Aspects of state

Recently, a Chennai-based company 'NEWAY" has signed a Memorandum of Understanding (MoU) with Punjab Government for which of the following purpose ?

For construction of solar power projects in state

For providing mid day meal in primary schools

For estalishing ropeway project at Anandpur Sahib

For producing bioenergy in the state using paddy straw

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Explanation:

In a major step towards curbing stubble-burning, the state government has signed a Memorandum of Understanding (MoU) with a Chennai-based company to set up 400 processing plants to use paddy straw to produce bioenergy in the state.The MoU was signed on behalf of Punjab government by R.K. Verma, CEO, Punjab Bureau of Investment Promotion, and K. Iyyapan, MD of NEWAY.Under the MoU, the plants will be set up by NEWAY Engineers MSW Private Limited with a total investment of Rs 10000 crore over the next 10 months.Under the agreement, the company will set up 400 cluster units for the 20 million tonnes of paddy straw expected to be generated in the state in a season. Each unit will have the capacity to process 50,000 tonnes through the year, or 150-175 tonnes per day per unit.