IOCL to develop SAF project in Paradip
The board of the government-owned Indian Oil Corporation Limited (IOCL) has approved the development of a Sustainable Aviation Fuel (SAF) project at Paradip in Odisha. The proposed facility will have a production capacity of 100 KTPA (Kilo-Tonnes Per Annum) of SAF.
This project will be executed by a joint venture (JV) firm. A new 50:50 joint venture company will be incorporated between IOCL and M11 Energy Transition Pvt. Ltd as per the reports from Kalinga TV. It will take an investment of around Rs 1,063.60 crores.
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