Moneycontrol BureauShare price of Praj Industries rose 5.3 percent intraday Wednesday. Indian Oil Corporation (IOC) has selected the company as its technology partner for setting up multiple second generation bio-ethanol plants based on indigenously developed technology.Indian Oil will be setting up three such 2G bio-ethanol plants.In order to enhance ethanol availability in the country for blending with petrol, Indian Oil is developing 2G ethanol production infrastructure using ligno-cellulosic biomasses as feedstock.Pramod Chaudhari, Executive Chairman of Praj Industries said, “It is a great honour for us to be chosen by Indian Oil to become their technology partner in multiple 2G bio-ethanol projects in India. We have prepared ourselves to execute 2G ethanol projects over Rs 3000 crore in two-three years."At 13:56 hrs Praj Industries was quoting at Rs 88.40, up Rs 0.70, or 0.80 percent and Indian Oil Corporation was up 2.41 percent at Rs 566.50 on the BSE.Posted by Rakesh Patil
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