Joint Venture30 Jan 2025, 10:21 pm
Praj Industries Ltd. and Bharat Petroleum Corporation Ltd. Form Joint Venture for Compressed Bio Gas Plants in India
AI Summary
Praj Industries Ltd. and Bharat Petroleum Corporation Ltd. (BPCL) have agreed to form a joint venture company (JVC) for the setting up of Compressed Bio Gas (CBG) plants across India. The JVC will construct, operate, and maintain CBG plants, including the sale of CBG and its derivatives. The shareholding pattern of the proposed JV company will be equal, with Praj holding 50% and BPCL holding 50%. The consideration for the subscription of share capital will be finalized at the time of signing the definitive agreement. The rationale behind this joint venture is to facilitate the commercialization of Praj's CBG technology.
Key Highlights
- Praj Industries Ltd. and Bharat Petroleum Corporation Ltd. (BPCL) will form a Joint Venture Company (JVC) for setting up Compressed Bio Gas (CBG) plants across India.
- The JVC will construct, operate, and maintain CBG plants, including the sale of CBG and its derivatives.
- Praj and BPCL will have equal shareholding in the proposed JV company.
- The consideration for the subscription of share capital will be finalized at the time of signing the definitive agreement.
- This joint venture aims to facilitate the commercialization of Praj's CBG technology.