IndianOil and Praj will also collaborate to set up biofuel production facilities, including CBG, biodiesel and ethanol
Praj Industries and IndianOil Corporation have inked an MoU to explore opportunities to fast-track India’s transition to cleaner and greener sources of energy by exploring avenues such as the production of alcohol to Jet (ATJ) fuels, 1G & 2G Ethanol, Compressed Bio-Gas (CBG) and related opportunities in the biofuels industry. Exploring these green energy horizons will be crucial for India to achieve carbon neutrality by 2070.
The MoU will boost ATJ fuel production capacity and its use in India which will in turn help curb emissions emanating from the aeroplanes as per IATA’s (The International Air Transport Association) mandate.
As per the MoU, IndianOil and Praj will also collaborate to set up biofuel production facilities, including CBG, biodiesel and ethanol. The two companies would also work together to facilitate the sales and marketing of various co-products and intermediates produced from these facilities.
Praj and IndianOil would explore and jointly work towards forming a 50:50 Joint Venture and identify partners to form special purpose vehicles (SPVs) under the proposed alliance.
