IOCL, EverEnviro signs agreement to establish CBG plants

Indian Oil Corporation Limited (IOCL) and EverEnviro Resource Management Private Limited have signed agreement for the formation of joint venture (JV) to establish compressed biogas (CBG) plants across the country.

Both IOCL and EverEnviro will share equal stake in the JV, holding 50 per cent each.

Besides, the initiative aligns with the IOCL’s long-term low-carbon development strategy to achieve operational net zero goal by 2046 and country’s net zero target by 2070.