Mumbai (Maharashtra) [India], January 28 (ANI): IndianOil chairman, S M Vaidya on Saturday flagged off the first export consignment of Aviation gasoline (AVGAS) 100 LL to Papua New Guinea from Gateway Terminals India (GTI) of Jawaharlal Nehru Port Container Terminal (JNPT).
The consignment consisted of 16 KL of AVGAS packed in 80 barrels. This is the first-ever instance of India exporting AVGAS.
Speaking on the occasion, Vaidya, said, "The global aviation gasoline market is projected to grow at 5 per cent CAGR. Aviation traffic in India is also likely to grow by 7 per cent. IndianOil is fully geared to explore the possible business avenues opened up with the manufacturing of this product. The indigenous production of AVGAS 100 LL in India will not only help in saving foreign exchange on imports but will make pilot training in domestic flying institutes economical for budding pilots."
In current AVGAS 100 LL fuel is primarily used by Flying Training Organisations (FTOs) in the country.
Vaidya said that under the 'Atmanirbhar Bharat' vision, IndianOil had 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.
"The current production of AVGAS 100 LL is being done from IndianOil's Gujarat Refinery which has a capacity of 5TMT per annum. The domestic production of AVGAS 100 LL produced by Indian Oil at its Gujarat Refinery will make flying training more affordable in India and abroad," he further added.
AVGAS 100 LL produced by IndianOil's flagship refinery at Vadodara has been tested and certified by the Directorate General of Civil Aviation (DGCA), the statutory body of the Government of India to regulate civil aviation in India, IndianOil chairman said.
Vaidya also said that there is a significant consumption of AVGAS in countries in South America, Asia Pacific, the Middle East, Africa and Europe. Therefore, there is an excellent opportunity to export AVGAS beyond the shores of India.
Vaidya said that the indigenous availability of AV GAS 100 LL would help reduce dependence on imports and address the associated logistical challenges. The country will be able to save precious foreign exchange with the in-house availability of this product. (ANI)