Praj signs Euro biofuel deal

13 March 2006 00:00  [Source: ICB]

Indian technology firm Praj Industries has signed a memorandum of understanding with Aker Kvaerner for cooperation on bioethanol projects in Europe. Under the agreement, Praj will supply the licence, engineering and equipment for the process plant, while Aker Kvaerner will provide engineering, procurement and construction.

The move comes ahead of the expected increase in demand for bioethanol following the introduction of the EU Bio-Fuels Directive, which has set a target of 5.75% inclusion of biofuels in the transportation fuel mix by 2010.

‘As the demand for fuel ethanol grows, technology for production of bioethanol becomes more critical,’ comm-ented Ronald van der Vlist, director of business development and technology with Aker Kvaerner’s European Process business.

‘We see this as a synergistic alliance which will offer value to European customers in this important and expanding market segment,’ he added.

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