IOCL forms joint venture for sustainable aviation fuel project
after close1 source ↓written by the desknot a recommendation
- with M11 Energy
- 50:50 joint venture
Indian Oil Corporation Limited (IOCL) has received Board approval for a 50:50 joint venture with M11 Energy Transition Pvt. Ltd. to establish a 100 KTPA Sustainable Aviation Fuel (SAF) project at Paradip, Odisha. This initiative aims to enhance India’s clean energy efforts and reduce carbon emissions in aviation.
The project will utilize HEFA technology and is pending approvals from NITI Aayog and other regulatory bodies before moving forward. Immediate market implications may include increased investor interest in sustainable energy initiatives.
Not investment advice. For informational purposes only.