Praj Industries up 5% on ethanol plant order in Uganda

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Moneycontrol Bureau

Shares of Praj Industries gained 4.7 percent intraday on Wednesday on getting order for ethanol plant in Uganda from Kakira Sugars.

"Praj has contracted a 60,000 LPD project for production of fuel ethanol and premium grade extra neutral beverage alcohol from Kakira Sugars, the sugar and power producer in Uganda," said the global process solutions company in its filing.

The plant will process cane molasses from the Kakira Sugar Mill that is a part of the diversified Madhvani Group, one of the largest private-sector group in East Africa.

Praj will provide key technologies for fermentation, distillation, wastewater treatment including biomethanation followed by biocomposting, said the company, adding the project will be supplied on EPC basis including boiler, turbine, water treatment plant, laboratory, auxiliary packages etc.

Praj recently commissioned Africa's first RSB (roundtable on sustainable biomaterials) certified 80,000 m3 of fuel grade ethanol plant at Sierra Leone, Africa. The fuel grade ethanol produced from this plant will be exported to the European Union, said the company.

At 10:15 hours IST, the stock was quoting at Rs 60, up Rs 1.25, or 2.13 percent on the Bombay Stock Exchange.

Posted by Sunil Shankar Matkar