Financial Daily from THE HINDU group of publications
Friday, May 17, 2002
Financial Daily from THE HINDU group of publications Friday, May 17, 2002 |
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Corporate
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Alliances & Joint Ventures Mojj Engg in tie-up with ICM for fuel ethanol plant Our Bureau
PUNE, May 16 PUNE-BASED Mojj Engineering Systems Ltd, engaged in design and engineering of turnkey projects, has joined hands with the US-based ICM Inc for design and turnkey supply of fuel ethanol plants based on molecular sieves technology. This is a technology transfer agreement. Talking to presspersons, Mr D.W. Oke, Director, Mojj Engineering, noted that molecular sieve technology for producing fuel ethanol was being widely used since it significantly reduced steam and power consumption required per litre of ethanol production. He noted that ICM technology could be used to produce ethanol from most inedible grains such as black jawar and is a zero-discharge technology. It may be recalled that the Petroleum Ministry had recently declared the policy for blending of fuel ethanol in petrol to reduce the foreign exchange burden on petroleum product imports. It has been decided to add five to 10 per cent fuel ethanol to petrol to reduce pollution. Mr Oke said since inception in 1986, the company had completed about 300 installations across the globe, of which 268 installations were in the country. He said ICM was a known name in the field of fuel ethanol with its patented technology used in about 40 per cent of the total plant operating/planned in the US producing fuel ethanol. Mojj Engineering for the fiscal year ended March 31, 2002 had achieved a domestic turnover of Rs 7.5 crore and Rs 5 crore globally. The company is targeting a turnover of Rs 9.5 crore from domestic business for the current fiscal year and Rs 7 crore from outside. According to Mr Oke, it has already obtained orders to the tune of Rs 3.5 crore for its global installations. He said it was estimating revenue of about Rs 3 crore from its new venture with at least a couple of installations in the country. He added that talks had already begun with various sugar factories in the country.
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