India's aviation sector is booming once again. The number of airports in the country is also increasing continuously, which has now crossed 100. In such a situation, the demand for aviation fuel has also increased and to meet this demand, Indian Oil is going to set up a new plant in Panipat, Haryana. An investment of Rs 3,000 crore will be made on this joint venture plant.
Indian Oil already runs a refinery in Panipat. Now with the new investment, an aviation fuel plant is being set up here, for which a joint venture has been formed with America's clean energy technology company LanzaJet Inc as well as several domestic airlines.
Aviation fuel will be made from alcohol
Sustainable Aviation Fuel (SAF) will be prepared in this plant of the company. For this, technology to make jet fuel from alcohol will be used. This will be a bio jet fuel. It has the same properties as normal aviation fuel, while the carbon animation is much less.
Indian Oil will have 50 percent stake in the new joint venture. While 25 percent will be given to Lanza Jet and the remaining 25 percent to a group of airlines companies. The decision to include airlines companies in this joint venture has been taken so that the sale of green jet fuel being prepared can be ensured.
1500 crore investment of Indian Oil
Indian Oil Corporation will invest Rs 1,500 crore in this plant. Lanza Jet's investment will be Rs 750 crore. The rest of the investment will be made by the airlines joining the new company.
These airlines can become partners
Tata Group operates flight services like Air India and Vistara. Apart from this, companies like Indigo, GoFirst and Bluedart also run airlines in the country. All of them have made a plan to invest in joint venture and each company can invest Rs 100 to 150 crores.
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