IndianOil Boards ₹1,063 Crore SAF Mega-Project with M11 Energy

The Board of Indian Oil Corporation has approved the formation of a 50:50 joint venture with M11 Energy Transition to set up a sustainable aviation fuel (SAF) project at Paradip.

The proposal was cleared during a board meeting held on 18 May 2026. The project is planned with an estimated production capacity of 100 KTPA (kilo-tonnes per annum) using Hydroprocessed Esters and Fatty Acids (HEFA) technology. The total project cost is estimated at Rs 1,063.60 crore (±30 percent).

The project execution remains subject to approvals from NITI Aayog and the Department of Investment and Public Asset Management (DIPAM).

The proposed SAF facility is aligned with India’s broader clean energy and decarbonisation goals for the aviation sector. Once operational, the Paradip plant is expected to support the aviation industry’s transition towards low-carbon fuels while strengthening domestic energy security and long-term environmental sustainability.

News by Rahul Yelligetti.