First EOI for signing long-term agreement for supply of ethanol receives overwhelming response
Sakshi Education
The first Expression of Interest (EOI) for signing long-term agreement with upcoming dedicated Ethanol plants for supply of Ethanol has received an overwhelming response with 197 bidders participating in it.
First EOI for signing long-term agreement for supply of ethanol receives overwhelming response
The EOI was published by BPCL on behalf of Oil Marketing Companies under the guidance of Ministry of Petroleum and Natural Gas on 27th August. The bids are currently under evaluation.
173 Crore litre Ethanol was procured last year and 5 per cent blending was achieved during Ethanol Supply Year ESY – 2019-20. The target for ongoing year ESY – 2020-21 is 325 Crore litre which will take the blending to 8.5 per cent. Actual achievement during ESY – 2020-21 so far has been 243 Crore liter, accounting for 8.01 per cent blending.
The Government has announced five different rates for Ethanol based on feedstock used for Ethanol production. GST and Transportation charges are being paid extra.
