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Tags: National Economy/Finance
On the occasion of World Biofuel Day, Prime Minister Narendra Modi dedicated the 2nd generation (2G) Ethanol Plant of the Indian Oil Corporation (IOC) in Panipat, Haryana to the nation on 10th August, 2022 via video conferencing.
The rice straw (parali) is presently considered as waste by the farmers and are burnt in the field after harvesting paddy crops. The Indian Oil Corporation project is to use agricultural residue, rice straw (parali) and convert into valuable biofuel, ethanol.
The Ethanol Project of IOC
Significance of the IOC project
Benefit of the Plant
The plant will give a boost to the waste to wealth endeavour of the government.
The parali which is considered as waste by the farmers will now be bought by the IOC thus boosting the income of the farmer.
It will promote a clean environment.
Employment generation
The Project will provide direct employment to people involved in the plant operation and indirect employment will be generated in the supply chain for rice straw cutting, handling, storage, etc.
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