EIL executes MoA with NRL for Collaborative Technology Development

Engineers India Limited (EIL) and Numaligarh Refinery Limited (NRL) have inked a Memorandum of Agreement (MoA) to jointly develop technology for 'Production of aqueous Ammonia from Ammonia rich sour gases' and demonstrate at NRL site.

The collaboration agreement was executed on 29th December, 2022 by authorised representatives of EIL and NRL in New Delhi in presence of Ms. Vartika Shukla, CMD, EIL, Dr. Ranjit Rath, Chairman, NRL & CMD, Oil India Limited and Mr. Bhaskar Jyoti Phukan, MD, NRL.

This MoA shall pave the way for demonstration of technologies jointly developed by EIL and NRL. This endeavour will generate a win-win scenario for both EIL, with a rich experience in the knowhow in development, design & engineering, and NRL, having vast experience in the operation of SRU towards commercialisation of indigenous technologies. Development of technology for production of Ammonia from the sour gases shall be addressing the issues related to processing of ammonia in SRU besides generating value from the waste stream.

Commenting on this development CMD, EIL, Ms. Vartika Shukla said "This collaborative arrangement with NRL is one of major steps taken by the company for indigenous technology development and deployment leading to Atmanirbharta in the energy sector providing impetus to EIL's diversified portfolio of supplying technological and proprietary engineered items / products".

Shares of Engineers India Limited was last trading in BSE at Rs. 78.90 as compared to the previous close of Rs. 77.55. The total number of shares traded during the day was 329645 in over 2349 trades.

The stock hit an intraday high of Rs. 80.60 and intraday low of 78.05. The net turnover during the day was Rs. 26232359.00.

Source : Equity Bulls

Keywords

EngineersIndia INE510A01028 NumaligarhRefinery MOA AqueousAmmonia