Page 136 - CW E-Magazine (3-9-2024)

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POOLING RESOURCES

GAIL joins up with USA’s Petron to explore

bio-ethylene plant in India

State-owned gas utility GAIL (India)
Ltd. said it has signed an agreement with
US biofuel producer Petron Scientech
Inc. to jointly explore setting up of a
500 kilo tonnes per annum bio-ethylene
plant in India.

The Memorandum of Understanding
(MoU) provides for the two fi rms looking
at setting up the plant based on bioethanol
in a 50:50 joint venture, GAIL said in a
statement.

While GAIL is India’s largest natural
gas transportation and marketing com-
pany, Petron specialises in setting up
biomass and grain processing biorefi nery
projects to produce ethanol, bio-ethylene,
bio-chemicals (ethylene oxide/mono The pact was signed by Mr. Sumit The MoU signifi es a major step
ethylene glycol, methanol) and various Kishore, Executive Director (Busi- towards enhancing sustainable practices
bio-fuel projects worldwide. ness Development and Exploration and advancing the bio-economy in
& Production), GAIL and Mr. Yogi India. The skills and strengths of both
“In line with the MoU, GAIL and Sarin, CEO, Petron in the presence of the companies would create a synergy
Petron will jointly undertake feasibility Mr. Rajeev Kumar Singhal, Director for achieving the objective of MoU.
studies to ascertain technical viability and (Business Development), GAIL. The collaboration between GAIL and
fi nancial prospects of the project. Both the Petron is poised to not only foster tech-
parties endeavour to secure investment “We are elated to enter into this nological advancements but also drive
approval from their respective management strategic relationship with Petron, a economic growth and environmental
for investment in the project and forming pioneer in bio-ethanol to bio-ethylene sustainability in India,” Mr. Singhal
a JV company,” the statement said. technology. said.

INORGANIC GROWTH

Kilburn Engineering to acquire Monga Strayfi eld

for Rs. 123-crore
Kilburn Engineering Ltd., a com- used in the textile industry in a major way. anshu Khaitan, Sirector of Kilburn, said
pany promoted by the Khaitan family of Kilburn is fi nancing the buyout with the acquisition will propel the company
Calcutta, has announced its third acquisi- the issuance of fresh equity shares. The towards becoming a world class manu-
tion in the last 12 months and the larg- announcement came on August 21 when facturer of dryers and heating solutions.
est yet by the company. The company the market capitalisation of Kilburn Engi- The acquisition will add to existing capa-
will pay Rs. 123-crore to buy Monga neering touched Rs. 2,000-crore, making bilities of the company and help achieve
Strayfi eld Ltd., a Pune-based engineering it the largest company by market cap in its next phase of growth with the help of
fi rm that manufactures radio frequency the Williamson & Magor Group. Com- enhanced manufacturing capabilities and
drying and heating solutions, which are menting on the Monga deal, Mr. Amrit- expand its dryers portfolio.

136 Chemical Weekly September 3, 2024

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