State-owned gas utility GAIL (India) Ltd on Thursday said it has signed an agreement with US biofuel producer Petron Scientech Inc to jointly explore setting up of a 500 kilo tonnes per annum bio-ethylene plant in India. The memorandum of understanding provides for the two firms looking at setting up the plant based on bioethanol in a 50:50 joint venture, GAIL said in a statement. While GAIL is India's largest natural gas transportation and marketing company, Petron specializes in setting up biomass and grain processing biorefinery projects to produce ethanol, bio-ethylene, bio-chemicals (ethylene oxide / mono ethylene glycol, Methanol) and various bio-fuel projects worldwide. "In line with the MoU, GAIL and Petron will jointly undertake feasibility studies to ascertain technical viability and financial prospects of the project. Both the parties endeavour to secure investment approval from their respective management for investment in the project and forming a JV company," the ...
Closing Bell on September 11, 2023: Among sectors, the Nifty PSU Bank index surged 3 per cent, followed by the Nifty Metal and Auto indices (up 1.7 per cent each)
This plant will be using corn or rice husk as feedstock to produce 500 KLD (kiloliters per day) bioethanol, which will be used for blending in petrol
Less than 15% of total ethanol supply in the market is currently from grain-based distilleries
"The petroleum ministry is firming up a policy to make aviation fuel from non-edible oil seeds so that we are able to reduce imports of ATF," Gadkari said
Bio-ethanol industry set to see investments worth Rs 30,000 crore