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IOCL, Praj Industries Sign MoU to Expand Biofuel Production Capacity

Indian Oil Corporation (IOCL) and Praj Industries (PIL) have signed a memorandum of understanding (MoU) to expand biofuel production capacities in India. In October 2021, these companies had signed an agreement to form a 50-50 joint venture (JV).

 

The MoU involves various biofuels, including sustainable aviation fuel (SAF), ethanol, compressed biogas (CBG), biodiesel, and bio-bitumen.

 

With this, IOCL will support its goal of net-zero operational emissions by 2046, and enhance the socio-economic and environmental aspects, thereby facilitating sustainable development.

 

The first advanced biofuel refinery, located at IOCL’s Panipat complex, has been developed by PIL's proprietary 2G technology. Moreover, IOCL and PIL have partnered with AirAsia India in May, 2023 for India’s first-ever commercial passenger flight powered by a blend of SAF.

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