Indian Oil Inks MoU With Praj Industries Ltd. for Development of 2G Ethanol
Dated: September 16, 2016
India's flagship national oil company Indian Oil Corporation Limited has selected Praj, a Pune-based global process solutions leader, as its technology partner for setting up multiple 2nd Generation (2G) bio-ethanol plants based on indigenously developed technology. Indian Oil will be setting up three such 2G bio-ethanol plants.
Indian Oil, like other Oil Marketing CPSEs are blending biofuels in transportation fuels at the depot to bring down dependency on crude oil imports and to avail of the resultant economic and environmental benefits. In order to enhance ethanol availability in the country for blending with petrol, Indian Oil is developing 2G ethanol production infrastructure using ligno-cellulosic biomasses as feedstock.
Speaking about the collaboration, Mr. Pramod Chaudhari, Executive Chairman, Praj Industries Ltd., said, "It is a great honour for us to be chosen by Indian Oil to become their technology partner in multiple 2G bio-ethanol projects in India. We have prepared ourselves to execute 2G ethanol projects over Rs. 3000 crore in two-three years."
He further added that, "Praj is offering end-to-end 2G 'Smart Bio-refinery' solutions globally. Our 'Smart Bio-refinery' is capable of producing bio-ethanol and other co-products such as bio-CNG, power and a variety of bio chemicals."
At the World Bio-fuels Day conference held at New Delhi recently, the Government of Indiahad announced that a 'biomass-based bio-fuels policy' is in the offing to give boost to the agro-economy and to promote clean, renewable energy. This endeavour will be a socio-economic and environmental enabler as the farming community will generate additional revenues from agri-waste, which will be utilised to produce bio-ethanol.
Praj is also providing assistance to Indian Oil for achieving various milestones towards holistic development of these projects at various suitable locations across the country. Such 2G Ethanol Plants are based on indigenous technology and designs developed by Praj at their R&D Center in Pune. Moreover, Praj will also supply Plant & Machinery and assist in operating and maintaining it.