Oil India inks pact for green hydrogen tie-up with Fertilisers and Chemicals Travancore

  • IANS
  • Stock Market News
Oil India inks pact for green hydrogen tie-up with Fertilisers and Chemicals Travancore
Credit: © Reuters.

New Delhi, Feb 22 (IANS) Oil India Limited (NS: OILI ) (OIL) on Thursday signed a Memorandum of Understanding (MoU) with The Fertilisers and Chemicals Travancore Limited (FACT), a public sector company, to explore opportunities in the domain of green hydrogen, including green ammonia, green methanol and other derivatives.The two companies will also collaborate in decarbonising initiatives like carbon dioxide sequestration, and partner in any other potential avenues for decarbonisation/clean energy transition/green fuels/renewable energy etc., which may present synergy between the parties and serve common business interests, according to an OIL statement.

The MoU was executed by Santanu Kumar Saikia, General Manager (Business Development), OIL, and R. Manikkuttan, Executive Director (Production Co-ordination), FACT.

--IANS

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