Praj Industries inks MoU with IOC and BPCL
Pune-based Praj Industries has inked a memorandum of understanding (MoU) with Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPCL), on 8 December, 2016.
Under the agreement, the company will set up three bio-ethanol plants in Gujarat, Haryana and Odisha.
The company has entered into an agreement for cost sharing with (IOC) to develop a plant at Panipat in Haryana, and Dahej in Gujarat. The second generation (2G) bio-ethanol plants will have a production capacity of 100 KL of ethanol per day.
The company has also been selected by BPCL as a technology partner to develop a second generation bio-ethanol plant, with a capacity of 100 KL of ethanol per day, in Odisha.
The capital outlay estimations and period of completion are yet to be finalised.