MoEFCC approved Environment Clearance to IOCL:
The Ministry of Environment, Forest and Climate Change (MoEFCC) approved the Environment Clearance to Indian Oil Corporation Limited (IOCL) to set up a new 2G Ethanol plant at Panipat, Haryana. It aims to promote the use of environmentally friendly products. The announcement was made by Shri Prakash Javadekar, the Union Minister of Environment, Forest & Climate Change (MoEFCC) and Information & Broadcasting.
IOCL:
Earlier, IOCL submitted a proposal that sought Environmental Clearance for IOCL`s proposed 100 KLPD Ligno-Cellulosic 2G Ethanol Plant in Baholi, Panipat, Haryana. The estimated cost to set up the plant is Rs.766 crore. The Central Government has identified production and use of ethanol will reduce import dependency and increase farmers` income. The Ethanol that is produced by the plant will be used for blending in transportation fuel.
Environmental clearance: It is the procedure to get clearance from the government to install and modify certain projects. Environmental clearance is mandatory for projects that can cause high environmental pollution.
Indian Oil Corporation Limited (IOCL):
Founded on: 30 June 1959
Headquarters: New Delhi
Chairman: Sanjiv Singh
Subsidiaries: Indian Oil (Mauritius) Ltd., CPCL, Lanka IOC PLC, IOC Middle East FZE, Indane (LPG)
IndianOil is the largest commercial oil company in India. It provides it`s service in India, Sri Lanka, Middle East, Mauritius.
ADB approves $300 million for power transmission expansion in Bangladesh:
The Asian Development Bank (ADB) approved a 300 million dollar loan for a project to expand power transmission lines in Greater Dhaka and the western zone of Bangladesh. The Asian Infrastructure Investment Bank has 200 million dollars in co-financing to fund transmission lines, substations, and an enterprise resource planning system. The assistance also comprises a 750,000 dollar grant from China`s Poverty Reduction and Regional Cooperation Fund.
Project
The project construct 40 km of transmission lines and 4,450 megavolt-ampere (MVA) of substations in Greater Dhaka as well as 368 km of transmission lines, 3,070 MVA of substations and 20 bay extensions in the western zone.
It will also establish an enterprise resource planning system, a drone inspection centre to improve operational efficiency and enhance workspace safety in the executing agency, the Power Grid Company of Bangladesh Ltd. The government and executing agency will contribute 249 million dollars equivalent toward the 750 million dollars total cost of the project which is due for completion by June 2024.