Indian Oil Corporation (IOC) will take 50 acre land on lease in Gorakhpur, for establishing an ethanol plant at a cost of Rs 800 crore, reports Business World.
Dhuriapar cooperative mill in Gorakhpur district that is no longer functioning owns the land.
Sources say as the state govt. is keen on reviving cooperative sector mills, two other sugar mills are likely to be handed over to private players in the next days.