New Delhi, India – Today, the U.S. Trade and Development Agency announced it is providing grant funding to Indian Oil Corporation Limited as it evaluates carbon capture utilization and storage technologies to reduce emissions at its Koyali refinery in Gujarat.
“This project is an ideal example of the groundbreaking work USTDA supports and makes possible,” said Todd Abrajano, Chief Operating Officer and Head of Agency. “This innovative solution – the first of its kind in India – is how we are showing American technology will make a meaningful impact on India’s refinery operations.”
USTDA’s funding will support IndianOil’s evaluation of technologies to capture and utilize carbon dioxide produced during refinery operations, presenting a novel and cost-effective environmental strategy that can be expanded to other refineries in India.
According to Dr. SSV Ramakumar, IndianOil Board member and Director (Research & Development), “This project is consistent with our vision to provide superior quality products using sustainable technologies. IndianOil is at the forefront of innovation, and our cooperation with USTDA will help us become a leader in the utilization of carbon capture technologies.”
USTDA’s support of this project aligns with key energy priorities of the Administration, including the Asia Enhancing Development and Growth through Energy program and the U.S.-India Strategic Energy Partnership.
U.S. businesses interested in submitting proposals for the USTDA-funded feasibility study should visit www.ustda.gov/work/bid-on-an-overseas-project.
The U.S. Trade and Development Agency helps companies create U.S. jobs through the export of U.S. goods and services for priority development projects in emerging economies. USTDA links U.S. businesses to export opportunities by funding project preparation and partnership building activities that develop sustainable infrastructure and foster economic growth in partner countries.
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