The Business Bytes
TBB BUREAU
BHUBANESWAR, AUG 10, 2021
The oil marketing companies (OMCs) in Odisha observed World Biofuel Day in virtual mode today.
IndianOil Chief General Manager and State Head Subhajit Ghosh, who is also the State Level Coordinator (Oil Marketing Companies) Odisha, presided over the meeting. In his keynote address, he emphasized on the benefits of green fuels.
Speaking about the socio-economic benefits of bio-fuel, Ghosh said that it enhances self-sufficiency of the Nation by reducing crude oil imports thereby saving Forex. It also creates employment opportunities in rural areas besides bringing additional revenue for farmers by way of cost towards biomass.
Approximately 120-160 million tons/year of surplus agricultural residue can be converted into alcohol through new technologies, he informed.
Priyadarshi Panda, State Head BPCL, in his speech, touched upon the activities taken by OMCs towards production of non-fossil fuels i.e. Biodiesel, Compressed Biogas, Ethanol etc.
Speaking on the occasion, GAIL CGM Dinabandhu Soren said that Odisha will have a 1730 km gas pipeline with investment of Rs. 4500 crore. Out of this 900 km will be for City Gas pipeline worth Rs. 500 crore. It is estimated that around 500 CBG plants in Odisha may come up immediately which can supply gas to all PSUs and local industries.
World Biofuel Day is observed every year on August 10 to create awareness about the importance of non-fossil fuels as an alternative to conventional fossil fuels and to highlight the various efforts made by the Government of India in the Biofuel sector.
Biofuels have the benefits of reduction of import dependency, cleaner environment, additional income to farmers and employment generation.
