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Which Oil Corporation is planning to set up a joint venture with US-based clean energy technology company LanzaJet Inc and multiple domestic airlines?
A)
Hindustan Petroleum (HP)
B)
Indian Oil Corporation (IOC)
C)
Bharat Petroleum Corporation (BPC)
D)
Oil and Natural Gas Corporation (ONGC)

Correct Answer :   Indian Oil Corporation (IOC)


* Indian Oil Corporation (IOC) is planning to set up a joint venture with US-based clean energy technology company LanzaJet Inc and multiple domestic airlines for production of sustainable aviation fuel (SAF), people aware of the development said.

* The proposed venture will set up a plant to make SAF with alcohol-to-jet technology at the state-run company’s Panipat refinery in Haryana at a cost of Rs 3,000 crore.

* IOC will possess a 50% share, while LanzaJet Inc will hold a 25% share..

Source : India Times

Published On : April 16, 2023
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