OMCs sign purchase agreement for upcoming dedicated ethanol plants
Oil marketing companies including Bharat Petroleum Corporation Limited (BPCL NSE -0.99 %), Indian Oil Corporation Ltd NSE 0.04 % (IOCL NSE 0.21 %) and Hindustan Petroleum NSE -0.06 % Corporation Limited (HPCL NSE -0.06 %) have entered into a long-term purchase agreement (LTPA) for upcoming dedicated ethanol plants across India, the government said in a press release on Wednesday.
As per the agreement, ethanol produced by these dedicated ethanol plants shall be sold to OMCs for blending with petrol as per the Centre’s Ethanol Blended Petrol (EBP) programme.
