July, 2023
- Praj Industries and Indian Oil Corporation (IOC) have inked a term sheet to establish a joint venture for the manufacture of biofuels in India.
- India’s joint venture seeks to improve energy security, lessen reliance on fossil fuels, and bolster the country’s rural economy.
- The biofuels covered under this agreement include Sustainable Aviation Fuel (SAF), Ethanol, Compressed Bio-Gas (CBG), Biodiesel and Bio-bitumen among others.
- IOC and Praj have been working together on India’s first advanced biofuels refinery at IOC’s Panipat complex, based on Praj’s proprietary 2G technology.
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