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Business Economy


IndianOil ships first consignment of Avgas to Papua New Guinea

New Delhi, Jan 28 (UNI) State-controlled IndianOil on Saturday shipped first consignment of AVGAS 100 LL to Papua New Guinea from GTI terminal of Jawaharlal Nehru Port Trust (JNPT).
The consignment consisted of 16 KL of AVGAS packed in 80 barrels. This is the first ever instance of India exporting AVGAS.
IndianOil Chairman S M Vaidya flagged off the first export consignment of the fuel which is primarily used by Flying Training Organisations (FTOs) and Defence forces.
“The global aviation gasoline market is projected to grow at 5% CAGR. The Aviation traffic in India is also likely to grow by 7%. IndianOil is fully geared to explore the possible business avenues opened up with manufacturing of this product," Vaidya said.
In a statement, IndianOil said that India until very recently imported AVGAS 100 LL fuel at a huge cost from European countries.
"Under the Prime Minister’s ‘Atmanirbhar Bharat’ vision, IndianOil launched the indigenous production of aviation fuel AVGAS 100 LL on September 26, 2022 at Air Force Station, Hindan and the same is now being extensively used in the domestic market," it said.
"The indigenous availability of AVGAS 100 LL will help reduce dependence on imports and address the associated logistical challenges. Country will be able to save precious foreign exchange with the in-house availability of this product," it further said.
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