DCM Shriram gets Rs 100 cr sustainable finance from Standard Chartered Bank

New Delhi: DCM Shriram Ltd on Wednesday said it has secured Rs 100 crore in sustainable finance from the Standard Chartered Bank to fund the upcoming compressed bio-gas plant in Uttar Pradesh.

The compressed biogas plant with 12 tonnes per day capacity at the Ajbapur Sugar Unit will produce compressed bio-gas using 'pressmud' as feedstock, a waste generated in the sugar manufacturing process, the company said in a statement.

DCM Executive Director and Group CFO Amit Agarwal said this is the company's second sustainable finance transaction in the last six months.

Standard Chartered Bank Executive Director (Sustainable Finance) Shobana Chawla said sustainable financing continues to be one of the strategic priorities at the bank.

"We have been assisting our clients transition to net zero, and at a group level have committed to mobilise USD 300 billion in sustainable finance by 2030. This facility to DCM Shriram is one such initiative," she added.

DCM Shriram is in the diversified business of Chlor-vinyl, power, cement, sugar, and fertiliser among others.