Islamabad:
The Asian Development Bank and Safeco signed an $86.2 million agreement to increase production of sustainable aviation fuel.
Under the agreement, the first private sector Sustainable Aviation Fuel (SAF) project will be launched at Sheikhupura with ADB support.
According to the announcement, the Asian Development Bank has provided $41.2 million in support and $45 million in joint loans.
Safeco and Shell have signed an agreement to supply 145,000 tons of sustainable aviation fuel per year, with the project expected to reduce carbon emissions by 500,000 tons per year.
Waste like used cooking oil will be used as feedstock under the project.
As a major step forward by the Asian Development Bank to reduce the carbon emissions of sustainable aviation fuel, this project will be a major step forward in promoting the sustainable aviation fuel market in Pakistan.
