October 07, 2008

IOC signs MoU with Chattisgarh for bio diesel production

It is reported that Indian Oil Corporation signed a MoU with Chattisgarh government for commercial bio diesel production.

As per MoU, a 74:26 JV will be formed between IOC and Chattisgarh State Renewable Energy Development Authority. The JV will facilitate plantation of bio crops Jatropha spread over 100,000 hectare of wasteland, production of bio diesel through suitable chemical processes and blending & marketing the product through IOC's network of retail stations across Chattisgarh.

As part of this JV, Indian Oil will initiate actions to support large scale Jatropha plantation on wasteland by deploying high quality inputs, modern agricultural tools and social interventions.