Indian Oil Corporation (IOCL) is to set up a joint venture (JV) with US-based clean energy technology company LanzaJet Inc, and domestic airlines for production of sustainable aviation fuel (SAF).

Economy Business

Indian Oil Corporation (IOCL) is to set up a joint venture (JV) with US-based clean energy technology company LanzaJet Inc, and domestic airlines for production of sustainable aviation fuel (SAF). This will be India's first green aviation fuel firm. Through the proposed venture, a plant will be set up to make SAF with alcohol-to-jet technology at IOCL's Panipat refinery in Haryana at a cost of Rs3,000 crore. IOCL will hold 50 percent stake while LanzaJet Inc will hold 25 percent, while the remaining 25 percent stake is reserved for airline companies, wherein multiple airline companies could be offered between two to five percent stake.


      Indian Oil Corporation (IOCL) is to set up a joint venture (JV) with US-based clean energy technology company LanzaJet Inc, and domestic airlines for production of sustainable aviation fuel (SAF).

      This will be India's first green aviation fuel firm.

      Through the proposed venture, a plant will be set up to make SAF with alcohol-to-jet technology at IOCL's Panipat refinery in Haryana at a cost of Rs3,000 crore.

 

     


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