The memoranda of understanding (MoU) were signed yesterday on the sidelines of PETROTECH 2016 held here.
"Praj has entered into a binding agreement for cost sharing with Indian Oil Corporation Ltd (IOCL)...To set up one plant each at Panipat, Haryana and Dahej, Gujarat," the company said in a statement.
These second generation (2G) bio-ethanol plants would 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 plants based on its indigenously developed technology," the company said.
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The second generation bio-ethanol technology uses ligno- cellulosic biomass (agri-residue) as feedstock. Farming community is expected to be benefited from additional revenues from agri-waste.
The second generation bio-ethanol helps reduce dependency on the imported crude oil, thereby saving foreign exchange. This technology will act as a socio-economic and environmental enabler.
Praj Industries Executive Chairman Pramod Chaudhari: "We are pleased with the progress of setting up of 2G ethanol projects by the OMCs. Praj is equally committed to partner with OMCs in their achievement of completing project targets.
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