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Praj Industries, has received a formal confirmation from Bharat petroleum Corporation (BPCL), by way of letter of acceptance (LoA), for its proprietary technology, basic engineering and design package worth Rs.16.75 crore.
The company has entered into a MoU with BPCL in December 2016 and has also signed MoU with Indian Oil Corporation in September 2016.
Further, Pramod Chaudhari, executive chairman of Praj Industries stated, “We are excited about the growth prospects of renewable fuels and chemicals with the establishment of our second generation ethanol technology. This techno-socio-economic model is aimed at bringing additional revenue stream to the farming community while striking a balance between India’s growth aspirations and environment.”
