Praj, Kvaerner JV to capture Europe biofuels growth

12 June 2007 15:10  [Source: ICIS news]

MUMBAI (ICIS news)--India’s Praj Industries on Tuesday said BioCnergy, its 60:40 bioethanol joint venture with Aker Kvaerner, will allow the partners to capitalise on Europe’s growing biofuels market. 

 

The company would explore ethanol and biodiesel opportunities in Europe as biofuels demand was expected to triple by 2010, Praj said in a statement.

 

It also said the firm will be located in in Zoetermeer, the Netherlands.

 

“BioCnergy will bring together the core strengths of Praj and Aker Kvaerner to provide value-plus solutions to the biofuels industry,” said Praj Industries chairman Pramod Chaudhari.

 

The company will provide services such as technology, project management, construction and commissioning for biofuel plants.

 

“The joint venture between Praj and Aker Kvaerner to develop bioethanol projects in Europe expects to win its first contracts this year,” Chaudhari had earlier told ICIS news.

 

By: Divya Chowdhury
+65 6780 4359

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