SEPTEMBER, 20249BPCL & ONGC TO COLLECTIVELY SETUP PETROCHEMICAL REFINERY UNITIN UPDARSH DRONOBOTICS & TROUVE PARTNER FOR DEVELOPMENT OF HYDROGEN AIR TAXIIndia's Oil and Natural Gas Corporation (ONGC) is planning a multibillion-dollar refinery and petrochemical project in the country's most populous state to capitalize on growing fuel demand. The New Delhi-based firm, India's largest oil explorer, is eyeing a 9-million-ton-per-year facility in Uttar Pradesh that could exceed a cost of 700 billion rupees ($8.3 billion), according to four people familiar with the discussions who requested anonymity due to the confidential nature of the talks. ONGC has engaged in discussions with Bharat Petroleum Corporation Ltd. (BPCL) to establish the unit in Prayagraj, where BPCL owns land.India's economy is one of the fastest-growing globally, driving increased demand for crude oil and petrochemicals, even as renewable energy capacity expands. Large infrastructure projects in India often face delays due to slow land acquisition, but access to BPCL's land could offer a significant advantage in speeding up the process.BPCL itself is considering setting up a refinery and petrochemical facility in either Andhra Pradesh or Uttar Pradesh, according to two sources. The company has hired a US-based consultant to conduct a location study, and while Uttar Pradesh is an option, Andhra Pradesh is currently favored due to state-offered incentives. Darsh Dronobotics Systems and Trouve Innovation Hub Inc. from Canada are partnering to create a five-seater air taxi powered by hydrogen. The collaboration also seeks to address climate change and minimize carbon emissions in the transportation and aviation industry, as per a statement from the company.Vjaitra Air Mobility, a division of Darsh Dronobotics Systems Pvt Ltd, has announced a strategic partnership with Trouve Innovation Hub Inc to support India's net zero goals and ambition to lead the air taxi revolution by 2025.In supporting Darsh Dronobotics Systems, Trouve Innovation Hub Inc. will have a key role in raising funds for creating a full-scale prototype of the hydrogen air taxi. It was mentioned that the project will change the future of city transportation by providing a sustainable and effective option to conventional travel methods.Ratandeep Tripathi, CEO of Vjaitra Air Mobility, said, "Their support in fundraising and innovation will be instrumental in bringing our hydrogen-based air taxi to life, aligning with our commitment to sustainable and cutting-edge transportation solutions."The air taxis pledge quieter flights, no emissions, and decreased operating costs in comparison to traditional aircraft, it highlighted. The air taxis will have the ability to travel up to 600 kilometers, allowing passengers to fly from Delhi-NCR to Lucknow, as well as other state capitals and metropolitan city airports.Trouve Innovation Hub Inc. will help secure the necessary funding for the project by utilizing their wide network of private investors, government funding, and institutional support. This will allow Darsh Dronobotics Systems to speed up development and move the hydrogen air taxi closer to being commercialized. TOP STORIESSEPTEMBER, 20249
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