Need large-size methanol plants to cut fossils import: NITI member Saraswat

India should aim to set up large-size methanol plants to reduce the import of fossil fuels, NITI Aayog member VK Saraswat said on Wednesday.

Saraswat further said India's dependence on thermal power plants will decrease in the future, so the country will have to make sure that the industry comes to manufacture methanol.

"Methanol is a clean fuel...We should aim to set up large-size methanol plants in the country," he told reporters here.

Saraswat said methanol can also be used as fuel in heavy commercial vehicles.

Cochin Shipyard Limited (CSL) has been given an order by a foreign company to build a ship which will run on methanol, he said.

Saraswat also informed that Niti Aayog will host the second international methanol seminar and expo 2024, a two-day event on October 17-18, 2024, at the Manekshaw Centre, New Delhi.

According to an official statement, the Methanol Economy in India was started in September 2016 when Niti Aayog, in collaboration with Methanol Institute, USA, organised the first seminar.

After eight years, Niti Aayog is organising the seminar and expo to highlight all the progress of projects, products and R&D initiatives related to Methanol production, application, and allied technological developments in the world, it added.

As India seeks to meet its COP commitments and align with global sustainability goals, the International Methanol Seminar will focus on key themes like methanol as a clean alternative fuel for transportation, shipping, and power generation.

The statement said the key Indian industry players, such as Kirloskar, Ashok Leyland, Volvo Penta, FCTecNrgy, Wesman Thermal process, METFUEL, Thermax, BHEL, NTPC and Defence labs like NMRL, have developed 100 per cent methanol buses, trucks, LCVs, gensets, fuel cell and energy applications, boilers, gas turbines and other cutting-edge applications.

The entire array of products and technologies will be on display at the expo, it added.