MoU22 Aug 2024, 05:48 pm
GAIL and Petron to Explore Setting up a 500 KTA Bio-ethylene Plant in India
AI Summary
GAIL (India) Ltd. and Petron Scientech Inc. have signed a Memorandum of Understanding (MoU) to explore setting up a 500 Kilo Tons per Annum (KTA) bio-ethylene plant along with its downstream unit(s) in India. The MoU aims to establish the plant in a 50:50 Joint Venture (JV) mode, based on bio-ethanol produced in the plant. GAIL and Petron will jointly undertake feasibility studies to determine the technical viability and financial prospects of the project. The collaboration between GAIL and Petron is expected to foster technological advancements, drive economic growth, and promote environmental sustainability in India.
Key Highlights
- GAIL and Petron sign MoU to explore setting up a 500 KTA bio-ethylene plant in India
- The plant to be set up in a 50:50 Joint Venture (JV) mode based on bio-ethanol produced in the plant
- Feasibility studies to be undertaken by both companies to determine technical viability and financial prospects
- Collaboration aims to foster technological advancements, drive economic growth, and promote environmental sustainability in India
- GAIL is a Maharatna Central Public Sector Enterprise and India’s leading natural gas transmission and distribution company, while Petron specializes in setting up biomass and grain processing biorefinery projects