Dhamendra Pradhan to launch IOC’s Rs 800-cr ethanol project in Gorakhpur
Union petroleum minister Dharmendra Pradhan will lay the foundation of an ethanol plant being set up by the Indian Oil Corporation (IOC) in Gorakhpur district of Uttar Pradesh.
The unit is proposed to be set up on 50 acres of land in the premises of the now-defunct Dhuriapar Co-operative Sugar Mill in the pocket borough of chief minister Adityanath. It will entail an investment of Rs 800 crore.
Pradhan would be accompanied by the chief minister for the foundation laying ceremony scheduled in the last week of August, UP principal secretary Sanjay Bhoosreddy told Business Standard here today.
Earlier, the state cabinet had cleared the proposal of transferring 50 acres to state owned IOC on a 30 year lease, which would also fetch the exchequer Rs 65 lakh per annum as rent. On the expiry of lease, IOC would hand over the plant to the UP Sugar Federation without any outstanding debt/payment liability.
