IOC partners with LanzaJet to set up aviation fuel plant in Haryana

Tags: State News

Indian Oil Corp (IOC) partnered with LanzaJet to set up an aviation fuel plant in Haryana.

An Overview of the News

• The aim of the collaboration is to produce sustainable aviation fuel (SAF).

• The investment for the aviation fuel plant is around 23 billion rupees ($280.1 million).

• IOC President S.M. Vaidya announced the partnership during an industry event in New Delhi.

• The collaboration promotes sustainable aviation solutions in India.

• It contributes to addressing the environmental impact of the aviation industry.

• Sustainable aviation fuel reduces greenhouse gas emissions and mitigates climate change.

Indian Oil Corporation Limited (IOCL):

• It is owned by the Government of India and operates as a Central Public Sector Undertaking under the Ministry of Petroleum and Natural Gas.

• Its headquarter is in New Delhi.

• It is a major government owned corporation and works as a public sector undertaking.

• Its operations are monitored and regulated by the Ministry of Petroleum and Natural Gas.

• Establishment - 30 June 1959

Headquarters - New Delhi

Chairman - Shrikant Madhav Vaidya