Indian Oil Corporation Limited (IOCL), India's flagship oil company has issued a Letter of Acceptance (LOA) to Praj for their upcoming 2nd generation biorefinery project located in Panipat, Haryana. This project will have the production capacity of 100-kilolitre per day of ethanol from biomass such as rice straw. Praj's scope for the said project comprises license of proprietary technology, design package and project management services (EPCM) for a value of INR 387 million. This is further to the MOU entered between Praj and IOCL in Sept 2016.

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