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 the same, the Ministry of Petroleum and Natural Gas said on Saturday (18 September).
The EOI was published by Bharat Petroleum Corporation Limited (BPCL) on behalf of oil marketing companies under the guidance of Ministry of Petroleum & Natural Gas on 27 August and opened on 17 September.
The bids are currently under evaluation, the ministry said.
Thanking all the bidders for making the EOI successful and wishing them all the very best in their ventures, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said that this EOI is a proactive step taken by the ministry and the oil companies to motivate project proponents to set up ethanol production plants in ethanol deficit states, thereby paving the way forward for the nation in achieving the ethanol blending target of 20 per cent and more in the coming years.
According to the ministry, 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 Cr litre, accounting for 8.01 per cent blending, the ministry said.