Praj Industries has got an order from Hindustan Petroleum Corporation Limited (HPCL) for setting up Compressed Biogas (CBG) project at Badaun in Uttar Pradesh.
Praj is offering its, worlds' first of its kind, RenGas technology, developed using proprietary microbe to produce CBG from rice straw. RenGas technology yields are considerably higher compared to conventional biogas processes.
The project has capacity to process 35000 MT of rice straw as feedstock to generate 5250 MT of CBG annually. In addition, the project will also generate 23,000 MT high quality solid biomanure and 350,000 MT of liquid bio-manure for ferti-irrigation.
This project has a potential to save up to 15000 MT of C02 emissions per year. The project will be completed and commissioned within 12 months timeframe.
Agricultural waste in the form of rice straw procured as feedstock for the CBG project will provide additional income revenue stream to farmers, facilitating Govt’s flagship program of Doubling Farmers Income.
The company is already executing for HPCL advanced biofuels project at Bhatinda Panjab, based on its enfinity 2G technology that uses rice straw as feedstock to produce ethanol.
The stock price opened in the positive and even rose to Rs.189.30, just 40 paise lower than its 52-week high of Rs.189.70; from there it slipped in the red on profit booking and is now trading at Rs.185 levels.