DCM Shriram secures Rs 100 crore in sustainable financing from Standard Chartered Bank

DCM Shriram announced on Wednesday that it had received Rs 100 crore in sustainable financing from Standard Chartered Bank to build the forthcoming compressed bio-gas project in Uttar Pradesh.

According to a statement from the firm, the compressed bio-gas plant at the Ajbapur Sugar Unit, which has a capacity of 12 tonnes per day, will generate compressed bio-gas utilising “pressmud,” a waste product of the sugar making process, as feed stock.

This is the business’s second sustainable financing deal in the last six months, as stated by Amit Agarwal, Group CFO and Executive Director of DCM.

According to Shobana Chawla, Executive Director of Sustainable Finance at Standard Chartered Bank, sustainable financing remains a strategic priority for Standard Chartered. In addition to helping clients achieve net zero, the bank has made a commitment to raise USD 300 billion in sustainable finance by 2030. This facility for DCM Shriram is one such initiative.