Indian Oil Corporation Limited (IOCL) and EverEnviro Resource Management Private Limited have signed an agreement for the formation of a joint venture (JV) to establish compressed biogas (CBG) plants across the country.
Both IOCL and EverEnviro will share an equal stake in the JV, holding 50 per cent each.
Besides, the initiative aligns with the IOCL’s long-term low-carbon development strategy to achieve the operational net zero goal by 2046 and country’s net zero target by 2070.