NEW DELHI: In a major push for green aviation, the board of Indian Oil Corporation Limited (IndianOil) has approved a 50:50 joint venture with M11 Energy Transition Pvt. Ltd. to establish a 100 KTPA (kilo-tonnes per annum) Hydroprocessed Esters and Fatty Acids (HEFA)-based Sustainable Aviation Fuel (SAF) project.
The board cleared the greenfield proposal during its meeting on May 18, 2026.
Key Highlights
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The Investment: The project will be developed at an estimated cost of ₹1,063.60 crore ($\pm$30%), subject to final regulatory clearances from NITI Aayog and the Department of Investment and Public Asset Management (DIPAM).
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Strategic Venue: The specialized SAF facility will be integrated at Paradip, Odisha, leveraging IndianOil’s massive refining ecosystem.
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Technology Path: The plant will utilize the HEFA pathway, which typically refines used cooking oil, animal fats, and waste oils into low-carbon jet fuel alternatives.
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Aviation De-carbonization: The venture aligns directly with India’s upcoming mandate to introduce 1% SAF blending in aviation by 2027, ramping up to 2% by 2028, aiding global carbon-mitigation targets.
