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Oil firms float country's biggest ethanol purchase tender

Aim to buy 3.13 bn litres, valued at Rs 12,800 crore

Fuel, petrol, diesel
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Ajay Modi New Delhi
Oil marketing companies — IndianOil, Bharat Petroleum and Hindustan Petroleum — have floated the country’s biggest ethanol procurement tender to buy 3.13 billion litres.

The value of ethanol desired by companies for blending with petrol is estimated at over Rs 12,800 crore, considering an average price of Rs 41 a litre. Oil companies will also have to pay a Goods and Services Tax (GST) of 18 per cent on ethanol that will go into blending.

Most of these supplies will come from the sugar industry, the key beneficiary of the ethanol blending programme introduced by the government a

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