iNDICA NEWS BUREAU-
GAIL Limited, an Indian state-owned energy corporation, and US-based Petron Scientech Inc (Petron) will start explorations for setting up a 500 Kilo Tons per Annum (KTA) bio-ethylene plant along with its downstream units in India.
GAIL (India) Limited and Petron Scientech Inc (Petron) have inked a Memorandum of Understanding (MoU) to jointly explore setting up the plant in a 50:50 Joint Venture (JV) mode. Sumit Kishore, Executive Director (Business Development and Exploration and Production), GAIL, and Yogi Sarin, CEO, Petron signed the non-binding MoU in the presence of Rajeev Kumar Singhal, Director (Business Development), GAIL.
As part of the MoU, the companies will take up feasibility studies for technical viability and financial prospects of the project. GAIL Limited has primary interests in the trade, transmission, production, and distribution of natural gas. GAIL is also interested in the exploration and production of solar and wind power, telecom and telemetry services, and electricity generation.
“GAIL is part of India’s clean energy infrastructure and is committed to incorporating initiatives for sustainable development of the nation. We are elated to enter into this strategic relationship with Petron, a pioneer in bio-ethanol to bio-ethylene technology. The MoU signifies a major step towards enhancing sustainable practices and advancing the bio-economy in India. The skills and strengths of both companies would create a synergy for achieving the objective of the MoU. The collaboration between GAIL and Petron is poised to not only foster technological advancements but also drive economic growth and environmental sustainability in India,” Singhal said.
GAIL, a Maharatna Central Public Sector Enterprise, is India’s leading natural gas transmission and distribution company with gas transmission and distribution pipelines, processing, and petrochemicals plants besides interest in upstream oil and gas blocks and LNG regasification terminals in India.
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.
Petron along with its affiliates and partners brings technology experience in the production and supply of setting up biorefinery projects. Petron has technologies for producing both bio-ethanol and bio-ethylene. The company commands 90 percent of the global bio-ethylene technology market.
