IOCL, BPCL, HPCL sign tripartite deal for ethanol plant

Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) – have entered into a long-term purchase agreement for upcoming dedicated ethanol plants across India, the Ministry of Petroleum & Natural Gas.

The first set of Tripartite-cum-Escrow Agreement (TPA) was signed among oil marketing companies (OMCs), project proponents, and banks of the respective ethanol plant projects in presence of Sandeep Poundrik, Principal Secretary, Department of Industries, Government of Bihar, Ashwani Bhatia, MD, State Bank of India and Sukhmal Jain, Executive Director I/C, Marketing Corporate, BPCL.

State Bank of India, Indian Overseas Bank, and Indian Bank are three banks that are involved in this tripartite agreement with OMCs and project proponents. The agreement is designed to ensure that payment received by Ethanol plants is utilised for servicing the finance extended by these banks.
Previous articleHow innovative valve technology can eliminate millions of tonnes of fugitive emissions
Next articleUAE’s first commercial-scale waste to energy plant