Joint Venture18 May 2026, 10:01 pm
Indian Oil to Form JV for ₹1,063.6 Cr Aviation Fuel Project
AI Summary
Indian Oil Corporation Ltd's board approved the formation of a 50:50 joint venture with M11 Energy Transition Pvt. Ltd. to establish a 100 KTPA HEFA-based Sustainable Aviation Fuel Project at Paradip. The estimated project cost is ₹1,063.60 crore (± 30%), and the venture is subject to approvals from NITI Aayog and DIPAM.
Key Highlights
- Indian Oil approves JV with M11 Energy Transition.
- Project aims to set up a 100 KTPA HEFA-based Sustainable Aviation Fuel Project.
- Estimated project cost is ₹1,063.60 crore (± 30%).
- JV is subject to NITI Aayog and DIPAM approvals.
Price Impact
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