The move follows the federal government’s decision to blend 5% ethanol in petrol aimed at narrowing down country’s oil imports.
India on an average imports oil worth $150bn per annum.
Petroelum Minister M Veerappa Moily stated that domestic tenders could source just half of the 1 billion liters supply required for the new program.
"We are going for global tenders to procure ethanol," declared Moily adding that a gazette notification has been released to the oil marketing companies.
As per the government’s plan, the blended petrol will be made available from 30 June 2013.
