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Indian Oil Corporation to set up bio-ethanol plant
India’s largest fuel retailer Indian Oil Corporation and carbon recycling company LanzaTech will jointly construct the world’s first refinery off gas-to-bioethanol production facility at IOC’s Panipat refinery, at an estimated cost of Rs 350 crore.The ethanol produced from the recycling of refinery off-gases can have a greenhouse gas emissions savings of 70 per cent compared to conventional gasoline.
"The biofuels we will be able to produce will support the requirements for motor spirit blends set by the government of India while enabling IndianOil to add value while reducing its emissions,” IndianOil chairman Sanjiv Singh.
India can produce 40-50 million litres of ethanol per refinery while saving about one million tonnes of carbon-di-oxide per annum. This is equal to taking 850,000 cars off the road in India each year.
“India is on track to exceeding its Paris commitments... It is promising to see carbon turned from a liability into an opportunity, where we can reduce emissions, maximise resources and decarbonise our economy,” said Dharmendra Pradhan, Minister, Petroleum and Natural Gas.
The large volume of waste gas produced at industrial facilities such as refineries cannot be stored or transported; rather, it must be combusted to make power locally and emitted as carbon dioxide.
“Changes in the energy paradigm pose a serious challenge for energy companies but IOC is taking the challenge as an opportunity,” said Jennifer Holmgren, CEO of LanzaTech.