BMW Industries enters into an agreement with Indian Oil Corporation Ltd for supply of Piped Natural Gas

BMW Industries Limited ("the Company") has entered into a Strategic Partnership for the supply of Piped Natural Gas (PNG) with Indian Oil Corporation Limited (IOCL).

The agreement was signed at the Eastern Region Pipelines (ERPL) Headquarters, Kolkata, marking a strategic partnership aimed at enabling cleaner and more efficient energy usage at BMW Industries' forthcoming manufacturing facility in Bokaro.

The adoption of natural gas is expected to support BMW Industries' transition towards cleaner energy sources, enhance operational efficiency, and reduce the carbon footprint of its manufacturing processes.

Commenting on the development, Mr. Harsh Bansal, Managing Director, BMW Industries Limited, said, "BMW Industries is pleased to partner with Indian Oil Corporation Limited for the supply of Piped Natural Gas. This partnership reinforces BMW Industries' commitment to sustainable industrial practices, while also strengthening its long-standing collaboration with leading public sector enterprises, while supporting our efforts to adopt cleaner and more efficient energy sources for our operations. We believe this partnership will further strengthen our operational ecosystem while aligning with our broader focus on sustainable and responsible manufacturing practices."

Shares of BMW Industries Ltd was last trading in BSE at Rs. 33.42 as compared to the previous close of Rs. 33.46. The total number of shares traded during the day was 136928 in over 820 trades.

The stock hit an intraday high of Rs. 34.89 and intraday low of 33.10. The net turnover during the day was Rs. 4651482.00.

Source : Equity Bulls

Keywords

BMWIndustries INE374E01021 StrategicPartnership PNG IOCL