IOCL to spend Rs 10 billion on green aviation fuel plant

Indian Oil Corporation Limited (IOCL), reportedly, is planning to set up a green aviation fuel plant in India to meet the surging demand for eco-friendly aviation fuel. According to a recent report by Bloomberg, the company is going to build this plant on Rs 10 billion (USD122 million). IOCL intends to set up the plant in either Panipat or Mathura because the Panipat Refinery of IndianOil is the first Refinery to switch over from BS-II/BS-III fuels to more eco-friendly BS III/IV fuels. The move is part of the company’s efforts to reduce its carbon footprint and promote sustainable development. In addition to the green jet fuel plant, IOCL also plans to set up a compressed biogas (CBG) plant in Uttar Pradesh to promote the use of clean energy in the transport sector. The company aims to produce 15 million tonnes of CBG per year by 2023.