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Captive or aggregated feedstock - which is safer?

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Captive supply - a sugar mill's own press mud, or dedicated Napier on leased land - de-risks supply but ties up land and capital. Aggregated agri-residue is cheaper at the gate but exposes the plant to collection risk. Reliance's Andhra model leases barren land for captive Napier precisely to close that exposure.

Source
RIL press release
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Level
Investor & policyMoney, risk, and what the policy actually says.
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