Praj Ind forms JV with Aker Kvaerner

Pune: Praj Industries, ethanol technology leader, has announced a joint venture with engineering and construction company Aker Kvaerner. The newly formed venture, called BioCnergy Europa B.V., will provide customised biofuel solutions to customers in the European Union. The two partners had entered into a strategic alliance last year to pitch for contracts involving the setting up of ethanol plants in Europe. Praj would offer the ethanol manufacturing technology and Aker Kvaerner will pool in its project management and engineering expertise. BioCnergy will be headquartered at Zoetermeer, Netherlands, with Praj holding 60 per cent of the equity and the remaining held by Aker Kvaerner. This translates into a sizeable business opportunity, and the joint venture would benefit from the proven strength of the partners.