Praj, IOCL sign MoU set up bio-ethanol plants

Praj, IOCL sign MoU to set up bio-ethanol plants

12:00 PM, 9th December 2016

MUMBAI, INDIA: Praj Industries Limited has entered into a binding agreement for cost sharing with Indian Oil Corporation Limited (IOCL) to set up one plant each at Panipat (Haryana) and Dahej (Gujarat). These 2nd Generation (2G) bio-ethanol plants will have the capacity to produce 100 Kilolitres of ethanol per day.

This is a progress milestone as per MoU signed earlier this year wherein IOCL selected Praj as its technology partner for setting up multiple 2G bio-ethanol plants based on its indigenously developed technology.

Furthermore, now Bharat Petroleum Corporation Limited (BPCL) has also selected Praj, as the technology partner for setting up one 2G bio-ethanol plant in the state of Orissa having the capacity of 100 Kiloliters of ethanol per day. Both parties entered into MoU to this effect.

Project timelines and capital outlay estimations are under finalisation.

Second Generation bio-ethanol technology uses ligno-cellulosic biomass (agri-residue) as feedstock. The farming community is expected to be benefited from additional revenues from agri-waste. 2G bio-ethanol also helps reduce dependency on the imported crude oil, thereby saving foreign exchange. This technology will act as a socio-economic and environmental enabler.

“We are pleased with the progress of setting up of 2G ethanol projects by the OMCs. Praj is equally committed to partner with OMCs in their achievement of completing project targets. This is in line with Govt. of India’s vision of increased contribution of renewables in India’s energy portfolio,” said Pramod Chaudhari, executive chairman, Praj Industries.

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