IOC wants 50,000 acres for biofuel cultivation

Indian Oil Corp. (IOC), the country’s biggest oil marketing company, is looking to acquire 50,000 hectares of wasteland in Uttar Pradesh for plantation of non-edible oilseeds, such as jatropha and karanjia, that are used for biodiesel production. The company has already acquired 30,000 hectares in Chhattisgarh and another 2,000 hectares in Madhya Pradesh. “We have planted 1,000 hectares so far and aim to plant 10,000 hectares this year. Seeds from the plantations will start coming after three to four years,” he added. IOC has also entered into a memorandum of understanding with Indian Railways for plantation of jatropha on railway land. (January 5, 2010)