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India : OIL PSUs seeks tender for Procurement of 850 million liters of Biodiesel
Publish Date : 04-Aug-2015
Fuel merchants have started the procedure of their maiden buying of biodiesel for amalgamating it with diesel. Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation have asked for tenders for procurement of 850 million liters of biodiesel from local makers. The technical and rate bids are to be presented online till 19 August, 2015.
As per the tender document, IOCL will procure about 40% of the entire quantity while the balance will be shared between the different 2 companies.
The biodiesel will have to be provided at multiple locations all over the nation from August to March 2016.
The maiden buying will aid merchants explore the rate of biodiesel, made from vegetable oil or animal fat, and get ready for the mixing when it becomes compulsory.
The National Policy on Biofuels had proposed a 20% mixing ratio for both biodiesel and ethanol by 2017. Till now, the government has made it compulsory only to mix 5% ethanol, derived primarily from sugar and corn, with petrol.
A non confirmation with view to the availability of biodiesel has also slowed the progress for making it important for blending.
To minimize the utilization of fossil fuels, which results mainly into air pollution, the government has been urging utilization of ethanol and biodiesel by fossil fuel merchants.
