Indian Oil Corporation will establish an 80,000 tonnes sustainable aviation fuel plant in association with LanzaJet in Haryana, said the Chairman of the company.
The company plans to invest about Rs 2,300 crore ($280.10 million).
In collaboration with Praj Industries, the refiner is currently undertaking a pilot project for green fuel in the state of Maharashtra, located in the western region of India.
LanzaJet is a prominent company specializing in sustainable fuel technology. Their primary focus is on carbon recycling and the advancement of sustainable aviation fuels (SAF) and renewable diesel, intending to mitigate greenhouse gas emissions and promote decarbonization in the aviation and ground transportation sectors.
At around 3.13 PM, Indian Oil was trading 1.20% higher at Rs 93, against the previous close of Rs 91.90 on NSE.
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