Oil India to invest ₹8,000 crore in ethanol
₹8,000 crore in the 2G (second generation) ethanol space. The consolidated investment would be made by Oil India along with its subsidiary Numaligarh Refinery Ltd (NRL). The latter would set up the plant.
Speaking to the media, Oil India CMD Ranjit Rath said that overall, the company is investing ₹25,000 crore to achieve net zero by 2040, in areas including 2G ethanol, green hydrogen, compressed biogas (CBG) and solar power. “In 2G ethanol space, we are looking at an investment of about ₹8,000 crore," he said, adding that the company has also received a mandate for setting up about 25 CBG plants. Further, in terms of solar power, the company would set up a 640-MW solar power plant in Assam and a 150-MW solar plant in Himachal Pradesh.
The CMD also informed that subsidiary NRL is in the process of setting up a petrochemical plant with an investment of ₹7,200 crore. “We have already taken a decision. Under the banner of NRL, a 360 KTPA (kilo tonne per annum) polypropylene unit is being built now.
As we speak, we are in the process of getting the environmental clearances, all the statutory clearances. The land has already been identified. An investment of about ₹7,200 crore has been outlined for that," he said.
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