Indian Oil Corporation Greenlights Joint Venture for 100 KTPA Sustainable Aviation Fuel Project at Paradip
Indian Oil Corporation Limited announced that its Board of Directors accorded approval for the formation of a 50:50 Joint Venture Company. The venture is set to establish a 100 KTPA HEFA-based Sustainable Aviation Fuel (SAF) Project at Paradip.The approval for the Joint Venture was granted by the Board of Indian Oil at a meeting held on 18 May 2026. The partnership for the project will be formed between M11 Energy Transition Pvt. Ltd. and IndianOil.
The proposed project has an estimated cost of Rs. 1,063.60 crore (- 30%). The establishment of the SAF facility is subject to necessary approvals from bodies such as NITI Aayog and DIPAM.
Key details regarding the venture include:
| Detail | Specification |
|---|---|
| Project Type | HEFA-based Sustainable Aviation Fuel |
| Capacity | 100 KTPA |
| Location | Paradip |
| JV Structure | 50:50 Joint Venture |
| Partner 1 | M11 Energy Transition Pvt. Ltd. |
| Partner 2 | IndianOil |
| Estimated Cost | Rs. 1,063.60 crore (- 30%) |
The Board of Directors meeting commenced at 4:00 PM and concluded at 9:30 PM on 18 May 2026.
IOC Stock Price Movement
Shares of Indian Oil Corporation Limited shed 1.84% today, settling at ₹131.81 after experiencing selling pressure. The stock saw heavy action with 15.77 million shares traded, as the equity tumbled toward its 52-week lows.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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