GAIL (India) and Petron Scientech have inked a memorandum of understanding (MoU) to jointly explore the setting up of a 500 KTA bio-ethylene plant along with its downstream units in India, based on bioethanol produced in the plant. The two companies will jointly undertake feasibility studies to ascertain technical viability and financial prospects of the project.

Both the parties will endeavour to secure investment approval from their respective management for the project and for forming a joint venture (JV) company. The MoU thus marks a major step towards enhancing sustainable practices and advancing the bio-economy, even as their respective strengths would create a synergy for achieving these objectives.

The collaboration between GAIL and Petron, a pioneer in bio-ethanol to bio-ethylene technology is poised to foster technological advancements while driving economic growth and environmental sustainability in India. Petron specializes in setting up biomass and grain processing biorefinery projects to produce ethanol, bio-ethylene, bio-chemicals and various bio-fuel projects worldwide.