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IOC, Praj Industries to strengthen biofuels production capacities in India

07 Jul 2023 Evaluate

Indian Oil Corporation (IOC) and Praj Industries (Praj) have signed term sheet to advance plans to strengthen biofuels production capacities in India. Various biofuels covered under this MoU include Sustainable Aviation Fuel (SAF), Ethanol, Compressed Bio-Gas (CBG), Biodiesel and Bio-bitumen among others. Earlier in October 2021, both the Companies had entered into an agreement to form a 50:50 Joint Venture to this end.  

Indian Oil & Praj have been collaborating to facilitate India’s energy transition towards a greener future in the past as well. The nation’s first-of-its-kind advanced biofuels refinery at Indian Oil’s Panipat complex is based on Praj’s proprietary 2 G technology. This year in May, IndianOil and Praj partnered with AirAsia India and flew India’s first-ever commercial passenger flight powered by a blend of ‘indigenous’ Sustainable Aviation Fuel.  

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.

Indian Oil Corp. Share Price

145.50 -1.90 (-1.29%)
23-Apr-2026 16:59 View Price Chart
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Company Name CMP
Reliance Industries 1343.10
Indian Oil Corp. 145.50
BPCL 309.80
HPCL 376.90
MRPL 186.90
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