Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
27 November, 2021 19:17 IST
UltraTech signs non-binding MoU with PRESPL
Source: IRIS | 13 Oct, 2021, 02.10PM
Rating: NAN / 5 stars.
Comments  |  Post Comment

 UltraTech Cement, India's biggest cement company & largest exporter of cement in India, has signed non-binding memorandum of understanding (MoU) with Punjab Renewable Energy Systems (PRESPL), India’s largest biomass aggregation and densification company with forward integrated value chain.

The MoU is part of UltraTech’s endeavor to decarbonize its operations and aims to significantly scale-up the use of biomass in place of fossil fuel like coal in UltraTech’s manufacturing operations.Under the agreement, PRESPL will leverage its technological expertise to replace coal based systems with biomass-based processes. PRESPL will execute the biomass-based projects at three of UltraTech’s units. Cumulatively, implementation of these three projects is estimated to generate annual carbon savings of over 150 thousand tonnes of CO2.

As part of this agreement, PRESPL will also build a sustainable supply chain of agricultural waste to be utilized as biomass energy in the kilns of UltraTech’s integrated units. This biomass-based fuel model helps to safely dispose agri-residue, which is currently burnt in open fields, thus helping reduce Scope 1 and Scope 2 emissions. Higher usage of agri residue in cement kilns, will also augment income for farmers, while reducing the country’s dependency on coal imports.

Shares of the company gained Rs 104.80, or 1.45%, to trade at  Rs 7,357.15.  The total volume of shares traded  was  7,647 at the BSE (12.38 p.m., Wednesday).



 Post Comment
Name Email
Comment
Security Code type    into this box
Company Update
Indiabulls Real Estate raises Rs 750 mn through NCDs - 25-Nov-2021 11:13
KDDL acquires additional 20.69% stake in Kamla Tesio Dials - 24-Nov-2021 18:06
Ipca Laboratories board approves acquisition of 26% stake in Lyka Labs - 24-Nov-2021 17:09
Thermax bags Rs 8,300 mn order for three Flue Gas Desulphurisation systems - 24-Nov-2021 16:47
Larsen & Toubro signs MoU with Tamil Nadu government - 24-Nov-2021 13:08
KPR Mill commissions new Garment production capacity in Tamil Nadu - 24-Nov-2021 12:47
GRM Overseas enters into pact with Christensen Investor Relations India - 23-Nov-2021 20:47
Triveni signs agreement with GEAE Technology USA - 23-Nov-2021 20:11
Jagan Lamps plans capacity expansion - 23-Nov-2021 18:11
Wipro in collaboration with Telefonica - 23-Nov-2021 12:47
Kesoram Industries board gives nod to raise up to Rs 25 bn - 22-Nov-2021 19:58
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer