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Our Bureau

Pune June 12 Bio-fuel solutions provider Praj Industries Ltd (PIL) and engineering and construction service company Aker Kvaerner formalised their strategic alliance into a 60:40 joint venture company christened BioCnergy Europe B V today.

The new entity that will be headquartered at Zoetermeer, the Netherlands, will address business opportunities in ethanol and bio-diesel in Europe and offer a gamut of flexible solutions from turnkey, semi-turnkey to a single point responsibility.

Mr Win van der Zande, Managing Director, Aker Kvaerner, Netherlands B V, said the financial outlay in the new joint venture will be between 2.5 million and 3 million over a three-year period.

PIL's existing facilities, including the new one coming up at Kandla, will be used to fabricate equipment required for projects, Mr Pramod Chaudhari, Chairman, Praj Industries, added.

The BioCnergy board will have two members each from the joint venture partners, and will be headed by Mr Ronald van der Vlist. Aker Kvaerner Netherlands B V is a wholly owned subsidiary of the $8-billion Aker Kvaerner ASA.

More Stories on : Alliances & Joint Ventures | Non-conventional Energy | Engineering

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