Praj Industries inks contract with Indian Oil Corp. to build two bioethanol plants
Indian process solutions company Praj has entered on Wednesday into a binding agreement for cost sharing with Indian Oil Corp. (IOC) to set up two bioethanol plants.
These second-generation (2G) bioethanol plants – one to be located at Panipat, Haryana, and one at Dahej, Gujarat – will have capacity to produce 100,000 litres of ethanol per day.
This is a progress milestone as per MoU signed earlier this year, wherein IOC selected Praj as its technology partner for setting up multiple 2G bioethanol plants based on its indigenously developed technology.
Pramod Chaudhari, executive chairman at Praj Industries, said: “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 the government of India’s vision of increased contribution of renewables in India’s energy portfolio.”
Additionally, now Bharat Petroleum Corp. (BPC) has also selected Praj as technology partner for setting up one 2G bioethanol plant in the state of Orissa with the capacity of 100,000 litres of ethanol per day.
Project timelines and capital outlay estimations are under finalisation.