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The current consumption of aviation gasoline or Avgas is around 250-300 kilolitres per month and it is entirely imported from overseas. Domestic production from Avgas will reduce foreign exchange outgo and save costs for pilot training schools. Currently, a kilolitre of Avgas costs around Rs 200,000, an industry source said.
Avgas is used as a fuel in piston aircraft flown by over 35 pilot training schools and also for unmanned aerial vehicles. Domestic demand for avgas is growing at around 5 per cent annually and is expected to grow further with the launch of new flying training schools in the country.
At a launch event on Monday, Shrikant Madhav Vaidya, chairman, Indian Oil said, “We plan to set up a new facility soon to target export opportunities, besides catering to the domestic demand. I am confident that the superior quality we offer, combined with competitive pricing, will give us a significant edge in the global market and open a new chapter in India's journey of self-reliance.”
Global Avgas market is expected to grow from the current $ 1.92 billion to $ 2.71 billion by 2029, he said.
“A huge achievement in our journey towards being an AatmaNirbharBharat,” minister of petroleum and natural gas Hardeep Singh Puri tweeted.
“We are reducing dependence on imported fuels by promoting biofuel blending, green hydrogen and introduction of electric vehicles,” he added.
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First Published: Mon, September 26 2022. 23:17 IST