Indian Oil approves 2 joint ventures to set up compressed biogas plants.
Environment
State-run Indian Oil Corporation (IOCL) approved two joint ventures with private sector players for setting up compressed biogas (CBG) plants. The announcement is expected to provide a fillip to the Centre's plans to establish 5,000 commercial CBG plants by 2024-25 under the Sustainable Alternative Towards Affordable Transport (SATAT) scheme.In a regulatory filing, the company said its board of directors has given the nod to environmental and sustainable solutions provider EverEnviro Resource Management Pvt Ltd and clean fuel technology company GPS Renewables Pvt Ltd. The two joint ventures will be formed with IOCL or one of its subsidiaries. In both cases, the two partners will have an equal stake of 50 per cent.
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