Praj Industries has received in- principle approval for forming a Joint Venture Company (JVC) with Indian Oil Corporation (IOCL), with 50:50 equity participation. This JVC would set up Biofuel production facilities and marketing of CBG, Ethanol, SAF and various coproducts and intermediates.
It is proposed that IOCL and Praj Industries shall infuse an initial capital amount of Rs 50 lakh each into the JVC. The board of directors at its board Meeting held on May 25, 2023, has approved the same.
Praj Industries is a Process Engineering and Technology Company offering innovative end-to-end solutions for biofuels, brewery, industrial processes & water and waste water treatment systems.
