Gail, Petron sign pact to explore setting up bio-ethylene plant in India

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Gail, Petron sign pact to explore setting up bio-ethylene plant in India - Business Standard

Quick Summary:

While GAIL is India's largest natural gas transportation and marketing company, Petron specializes in setting up biomass and grain processing biorefinery projects to produce ethanol, bio-ethylene, bio-chemicals (ethylene oxide / mono ethylene glycol, Methanol) and various bio-fuel projects worldwide.

State-owned gas utility GAIL (India) Ltd on Thursday said it has signed an agreement with US biofuel producer Petron Scientech Inc to jointly explore setting up of a 500 kilo tonnes per annum bio-ethylene plant in India.

The memorandum of understanding provides for the two firms looking at setting up the plant based on bioethanol in a 50:50 joint venture, GAIL said in a statement.