The Union Government has announced that Methanol Policy which calls for 15% blending of Methanol in petrol to make it cheaper and also reduce pollution.
Union roads minister Nitin Gadkari on Thursday made a statement on this in Parliament, in which he said that 15% blending of Methanol in petrol will help in reducing the cost and pollution as well by 2030.
Here's how blending of Methanol in petrol will be helpful in reducing costs and pollution level in country-
1. Methanol gets made from coal and costs only Rs 22 per litre as against the prevailing price of about Rs 70 per litre for petrol. China is making the coal byproduct for Rs 17 per litre itself.
2. Factories in and around Mumbai, including Deepak Fertilisers and Rashtriya Chemicals and Fertilisers (RCF), can generate methanol, according to Gadkari.
3. Swedish auto major Volvo has got a special engine to the financial capital which runs on methanol and using the locally available methanol, it will be attempting to run 25 buses entirely on the fuel.
4. Total investment opportunity on ethanol alone is Rs 1.50 trillion.
More details awaited.
(With inputs from PTI)