 "Praj to partner IOCL & BPCL to set up 2G bio-ethanol plants")
Praj Industries Ltd to partner with Indian Oil Corporation Limited (IOCL) and Bharat Petroleum Corporation Limited (BPCL) to set up second generation (2G) bio-ethanol plants in the country. The company signed agreements to this effect with IOCL and BPCL on the side-lines of recently concluded Petrotech 2016 conference in New Delhi.
With IOCL, Praj has entered into a binding agreement for cost sharing to set up one 2G bio-ethanol plant each at Panipat (Haryana) and Dahej (Gujarat). These plants will have capacity to produce 100 kilo litres 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.
Similarly, BPCL has selected Praj as technology partner for setting up one 2G bio-ethanol plant in Orissa having the capacity of 100 kilo litres of ethanol per day. Project timelines and capital outlay estimations are under finalisation.
Second generation bio-ethanol technology uses (agri-residue) as feedstock. Farming community is expected to be benefited from additional revenues from agri-waste. Second generation 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 Government of India’s vision of increased contribution of renewables in India’s energy portfolio,” said Pramod Chaudhari, executive chairman, Praj Industries Ltd.
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