GAIL and Vitara Energy to Invest Rs 16,500 Cr in Maharashtra

GAIL Limited, a Government-owned Natural Gas corporation, and Vitara Energy of Australia have signed memorandum of understandings to make an investment of around Rs 16,500 crore in the state of Maharashtra.

First MoU has been signed for investment Rs 8,000 crore to expand the project at Usar in Raigad district of Maharashtra. The project will produce and distribute LPG, LNG gas recharge, and petrochemicals.

Second MoU has been signed to start a project in Yavatmal district with an investment of Rs 8,500 crore, to produce biofuel and work in non-conventional diesel, aviation fuel, biofuel, ethanol production. The Yavatmal project will be operational by 2022.