Indian Oil, Praj enter JV to advance biofuels production capacity in India
Indian Oil Corporation Limited (IOCL) and Praj Industries Limited (Praj) signed a term sheet to boost biofuels production capacities in India, according to a BSE filing by Indian Oil.
According to the release, various biofuels covered under this memorandum of understanding (MoU) include sustainable aviation fuel (SAF), ethanol, compressed biogas (CBG), biodiesel, and bio-bitumen among others.
In October 2021, both companies had entered into an agreement to form a 50-50 joint venture to this end.
