In a bid to set up Bio-CNG plants across India for promoting clean fuel and reduce the country’s fuel import bill, oil marketing companies (OMCs) in India i.e. Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) are reportedly planning to invest around Rs 10,000 crore.
The Bio-CNG plan will be described in the national biofuels policy, which is slated to be released in the month of April 2018 and the policy will also feature Rs 1 trillion investment opportunity under Waste-to-Wealth projects.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.