Mitsui to invest big in a Punjab biomass company

Japan-based trading and investment company Mitsui & Co has announced its intention to invest INR 300 million (EUR 3.4 million) in Mumbai-based Punjab Renewable Energy Systems Pvt Ltd (PRESPL), according to a news from The Economic Times.

PRESPL provides collection, storage and processing of agricultural residues and is a manufacturer of biomass briquettes and pellets. The entity is further active in the fields of O&M and technical services. Backed with the newly-secured investment, PRESPL wants to expand accelerate the growth of its activities both in India and overseas.

Mitsui’s investments in India include, amongst other areas, steel, power infrastructure, chemicals, and logistics.