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GAIL (India), Vitara Energy to Invest Rs 16,500 cr in Maharashtra

GAIL (India) and Vitara Energy of Australia have decided to make an investment of around Rs 16,500 crore in the state of Maharashtra.

 

A memorandum of understanding (MoU) regarding the same was signed on 24 June 2021.

 

GAIL (India) will expand the project at Usar in Raigad district and invest around Rs 8,000 crore. The project will produce and distribute LPG, LNG gas recharge, petrochemicals, etc.

 

Moreover, modern technology from the US will be used for this project which will be operational by 2025. As many as 300 senior officers will be appointed and 5,000 employees will get employment.

 

The second MoU was signed to start a project in Yavatmal district. Along with biofuel production, it will also work in non-conventional diesel, aviation fuel, biofuel, ethanol production.

 

An amount of Rs 8,500 crore will be invested in the project. It will be operational by 2022.

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