Question: Consider the following statements:
(1) Gujarat Alkalies and Chemicals Limited (GACL) and Oil and Natural Gas Corporation (ONGC) has signed a memorandum of understanding (MoU) for setting up a bioethanol plant in Gujarat
(2) This MoU was signed on the lines of the roadmap launched by Prime Minister of India Narendra Modi for 20% Ethanol Blending in Petrol by 2025
Which of the above is/are correct?
(a) Only 1
(b) Only 2
(c) Both 1 and 2
(d) None
Answer: (b)
Related Facts:
- Gujarat Alkalies and Chemicals Limited (GACL) and GAIL (India) Limited has signed a memorandum of understanding (MoU) for setting up a bioethanol plant with a production capacity of 500-kilo litre per day (KLD) in Gujarat.
- This MoU was signed on the lines of the roadmap launched by Prime Minister of India Narendra Modi for 20% Ethanol Blending in Petrol by 2025 in order to reduce the import of crude oil.
- The estimated project cost is to the tune of Rs 1,000 crore and it is expected to generate annual revenue of approximately Rs 1500 crore.
- An estimated savings of USD 70 million per year in foreign exchange outgo is expected through this project.
- The plant will be using corn/broken rice as feedstock with eco-friendlv technology and it will produce 500 KLD bio ethanol, which will be used for blending in petrol.
- Gujarat Alkalies and Chemicals is engaged in the business of industrial chemical.
- It is one of the largest producers of caustic soda in India.
- GAIL (India) is an integrated energy company in the hydrocarbon sector and is engaged in gas marketing.
- The Government of India held 51.85% stake in the company as of 30 September 2021.
BY: AMIT GUPTA