Joint Venture13 Oct 2026, 10:50 pm
Oil India Subsidiary Forms Joint Venture for Biofuels
AI Summary
Oil India Ltd's wholly-owned subsidiary, OIL Green Energy Ltd. (OGEL), has incorporated a Joint Venture (JV) company named "HIND OIL BIOFUELS PRIVATE LIMITED". This JV, established in India on October 13, 2026, will focus on the production of Compressed Biogas and by-products from Municipal Solid Wastes, energy generation from wastes, and biofuel production. OGEL will hold a 50% stake in the JV, with an initial subscription of ₹5.00 lakh (50,000 equity shares at ₹10 each). The formation of this JV has received approval from MOP&NG.
Key Highlights
- Oil India's subsidiary forms a new Joint Venture for biofuels.
- The JV will produce Compressed Biogas and biofuels from waste.
- OGEL will hold a 50% stake in the new entity.
- Initial investment by OGEL is ₹5.00 lakh.
Price Impact
More from OIL