Hyderabad, March 13 -- Re Sustainability Limited(ReSL), India's largest and Asia's leading provider of comprehensive environment management services., on Friday said it has signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited to establish India's first integrated used oil circular economy ecosystem.
The MoU targets annual collection of up to 100 kilotonnes (KTA) of used lubricating oil through a nationwide network of aggregation, logistics and traceability systems.
The partners also plan to set up a state-of-the-art re-refining facility at a mutually agreed location with a processing capacity of 50-100 KTA, expected to be commissioned within the next three years.
The facility will produce Group II RRBO meeting B...