Indian Oil Plans $2.4 Billion Investment to Make EthanolBy and
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.
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