Indian Oil becomes the first Indian firm to produce fuel for Formula 1 cars
Indian Oil Corporation (IOC) is all set to begin the production of fuel for Formula 1 (F1) cars in three months, marking the entry of Indian oil companies into F1 championships.
The fuel will be produced for F1 cars at the Paradip refinery in Odisha, which is known for its advanced technology and strategic location. The announcement was made by the Chairman of IOCL, SM Vaidya,
While announcing IOC’s entry as a fuel partner in Formula One, Chairman of IOCL, SM Vaidya also said that the company became the “Official Fuel Partner” for the FIM (Federation Internationale De Motocyclisme) Asia Road Racing Championship (ARRC) with Two Wheels Motor Racing as the “Official Fuel Partner” for the prestigious championship from 2024 to 2026.
SM Vaidya also said that the company will receive certification for the production of the special fuel to be used for Formula One cars within three months.
This collaboration entails Indian Oil providing FIM category 2 race fuel, “STORM-Ultimate Racing Fuel,” across all Asia Road Racing Championship rounds.
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Published: 07 Mar 2024, 03:57 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.