Gujarat Alkalies and Chemicals Ltd and GAIL NSE -0.04 % India on Friday signed a memorandum of understanding to set up a 500 KLD bioethanol plant at an estimated investment of Rs 1,000 crore in Gujarat.
The MoU was signed by the representatives of both the companies at Gandhinagar in the presence of Gujarat Chief Minister Bhupendra Patel, a state government release said, adding that the plant would produce 500-kilo litres of bioethanol per day. Bioethanol is an alternative to fossil fuel used in vehicles and a form of renewable energy that can be produced from agricultural feedstocks through microbial fermentation.
