Indian Oil Plans $2.4 Billion Investment to Make Ethanol

  • 1 million ton capacity to take 48 months to complete
  • India needs more ethanol than it produces for meeting 5% norm

Indian Oil Corp., the nation’s biggest refiner, plans to spend 160 billion rupees ($2.4 billion) to build a plant for producing synthetic ethanol as it seeks to secure supplies of the biofuel to meet mandatory blending norms.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.