Praj Industries Ltd has announced that it has entered into a binding agreement for cost-sharing with Indian Oil Corporation Ltd (IOCL) to set up three second-generation (2G) ethanol plants in Gujarat, India. In addition, Praj has signed a Memorandum of Understanding (MoU) with Bharat Petroleum Corporation Ltd (BPCL) for a 2G ethanol plant in Orissa.
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Praj Industries Ltd, an India-headed global process solutions provider for the wastewater, ethanol and beverage industries, has announced that it has entered into a binding agreement for cost sharing with Indian Oil Corporation Ltd (IOCL) to set up three second-generation (2G) ethanol plants, at Panipat, Haryana and Dahej in the State of Gujarat. Each of these 2G ethanol plants will have the capacity to produce 100 000 litres of ethanol per day.
The deal is a progress milestone as per a Memorandum of Understanding (MoU) signed in September this year wherein IOCL selected Praj as its technology partner for setting up multiple 2G ethanol plants based on its indigenously developed technology.
In addition, Praj has signed a MoU with Bharat Petroleum Corporation Ltd (BPCL) that has selected Praj as technology partner for setting up a 100 000 litre per day 2G ethanol plant in the State of Orissa. Project timelines and capital outlay estimations are under finalisation. Both agreements were executed on the sidelines of the recently concluded Petrotech 2016 event held in New Delhi, India.
These 2G ethanol plants will use ligno-cellulosic biomass, primarily agri-residues, as feedstock. As a result it is expected that the farming communities in the regions that the plants are to be built will benefit from additional revenues from agri-waste.
– We are pleased with the progress of setting up of 2G ethanol projects by the Oil Marketing Companies (OMCs. Praj is equally committed to partner with OMCs in their achievement of completing project targets. This is in line with Government of India’s vision of increased contribution of renewables in India’s energy portfolio, said Pramod Chaudhari, Executive Chairman, Praj Industries Ltd.
