NEW DELHI: On Wednesday at 4:30 p.m. through video conference, Prime Minister Narendra Modi will devote the country to the 2nd generation (2G) Ethanol Plant in Panipat, Haryana, in honour of World Biofuel Day.

The government has taken a number of actions over the years to increase the nation's production and use of biofuels, and the dedication of the facility is only the latest, according to the Prime Minister's Office (PMO).

According to the press release, "This is consistent with the Prime Minister's ongoing efforts to change the energy industry into one that is more cheap, accessible, efficient, and sustainable."

Indian Oil Corporation Ltd. (IOCL) constructed the 2G Ethanol Plant beside the Panipat Refinery at an estimated cost of around Rs 900 crore.

The initiative, which is based on cutting-edge indigenous technology, would open a new chapter in India's waste-to-wealth efforts by using around 2 lakh tones of rice straw (parali) per year to produce nearly 3 crore litres of ethanol.

Farmers would have more control if there was a final use for the agricultural crop leftover, which would also provide them a chance to generate more cash. The project will provide indirect jobs throughout the supply chain for the cutting, handling, and storage of rice straw in addition to direct employment for those involved in the operation of the factory.

There will be no liquid discharge from the project. The project will help reduce greenhouse gas emissions through a decrease in the burning of rice straw (parali), which is roughly equivalent to replacing nearly 63,000 vehicles on the country's roads each year. This reduction in greenhouse gas emissions is equal to about 3 lakh tones of carbon dioxide equivalent emissions annually.