Indian Oil Corporation to invest US$163 million for 2 new ethanol plants

摘要

Indian Oil Corporation (IOC) is planning to invest Rs12 billion (US$163 million) for new ethanol production plants in the states of Telangana and Andhra Pradesh, according to a top IOC official.Feedstock will be spoilt and surplus food grains sourced from the Food Corporation ofIndia (FCI).The announcement was made during a press conference on 24th February by the Director (R&D) SSV Ramakumar. IOC executive director & state head for Telangana and Andhra Pradesh (AP), R.Sravan S. Rao added that both plants will have thecapacity to produce 500,000 litres ethanol/day and each one will receive an investment of Rs6 billion (US$81.5 million).