Key highlights of EOI by OMCs for Biodiesel, made from UCO:
- The entrepreneurs setting up Biodiesel plants will get remunerative price and assurance of complete offtake of production by the OMCs — Indian Oil, Bharat Petroleum and Hindustan Petroleum.
- The EOI will ensure that Rs 51/ litre is paid for Biodiesel for the first year, Rs 52.7 for the second year and Rs 54.5 for the third year.
- The Oil companies will also bear the cost of transportation and GST for the first year.
- The scheme is being launched in 100 cities across the country.
RUCO?
- On the occasion, he also launched a sticker on RUCO viz., Repurpose Used Cooking Oil and a mobile app to facilitate the collection of UCO.
- The RUCO sticker will imply that the establishment having it conforms to the RUCO ecosystem, and does not reuse the cooking oil.
- The RUCO App will enable stakeholders to track and trace all transactions.
