IFC may invest in AuroMira’s biomass unit

World Bank’s International Finance Corporation is considering a USD 5.2m loan for Auromira Bio Systems Kanyakumari, a special vehicle promoted by Chennai-based Auromira. The SPV intends to set up a 15MW biomass power project in Tamil Nadu which is expected to be online by March 2011. IFC said that it may also consider making a small equity investment in Auromira Bio Systems Kanyakumari.