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Indian Oil to Establish Bio-energy Research Center

12:06 AM MDT | August 15, 2011 | Deepti Ramesh

Indian Oil Corp. (IOC; New Delhi) says it has signed a memorandum of understanding with the Indian government’s department of biotechnology (DBT), to set up a DBT–IOC Centre for Advanced Research on Bio-energy at Faridabad, India. The center will be built at IOC’s research and development complex at Faridabad and will involve a cost Rs530 million ($12 million) during the first five years of operation and DBT will invest half of the amount. “Breakthroughs are needed to replace oil with plant based fuels and hope lies on biotechnological...

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