Indian Oil Corporation Limited (IOCL) received Board approval for the formation of a 50:50 joint venture with M11 Energy Transition Pvt. Ltd. to establish a 100 KTPA Sustainable Aviation Fuel (SAF) project at Paradip, Odisha. Under the approved structure, the proposed joint venture company will be incorporated in India with equal ownership between Indian Oil Corporation and M11 Energy Transition Pvt. Ltd. The project aims to strengthen India’s clean energy and sustainable aviation fuel ecosystem as the country accelerates efforts to reduce carbon emissions in the aviation sector. However, the project remains subject to approvals from NITI Aayog, the Department of Investment and Public Asset Management (DIPAM), and other relevant regulatory authorities before commercial implementation.
Paradip Facility to Use HEFA Technology
The proposed SAF plant will utilize the Hydroprocessed Esters and Fatty Acids (HEFA) technology pathway, which is widely recognized for producing lower-carbon sustainable aviation fuel from renewable feedstocks. The facility will be located at Paradip, one of India’s major industrial and refining hubs on the eastern coast. The strategic location is expected to support efficient integration with existing refining and logistics infrastructure.
Project Cost
The estimated project cost for the Sustainable Aviation Fuel facility stands at approximately ₹1,063.60 crore, with a variance margin of ±30%. The variation reflects the project’s preliminary planning stage as well as the requirement for further regulatory approvals and detailed project assessments. The proposed SAF project aligns with India’s broader sustainability and energy transition objectives, particularly in the aviation sector where demand for cleaner fuel alternatives is steadily increasing. As reported by scanX, by investing in sustainable aviation fuel infrastructure, Indian Oil Corporation Limited aims to support the decarbonisation of air transport while strengthening the country’s renewable and low-carbon fuel capabilities.
