Praj Industries partners with Indian Oil Corporation and BPCL

For setting up 2G Bio-ethanol plants

Praj Industries has entered into a binding agreement for cost sharing with Indian Oil Corporation (IOCL) on 7 December 2016 to set up one plant each at Panipat, Haryana and Dahej, Gujarat. These 2nd Generation (2G) bio-ethanol plantswill 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 plantsbased on its indigenously developed technology.

Additionally, now Bharat Petroleum Corporation (BPCL)has also selected Praj, as technology partner for setting up one 2G bio-ethanol plant in the state of Orissa having the capacity of 100 Kilo litres of ethanol per day. Both parties entered into MoU to this effect on 7 December 2016.

 

Project timelines and capital outlay estimations are under finalisation.

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