Praj Industries is eying opportunities in multiple sectors including sustainable aviation fuel (SAF), biopolymers and the energy transition & climate actions (ETCA) and is expecting to triple its revenues by 2030. During a Press Conference held in Pune, Dr Pramod Chaudhari along with his team comprising Atul Mulay, President, Bioenergy Business and Ghanshyam Deshpande, President Technology interacted with the media about the possible opportunities and Praj’s preparedness to grab the same.
Speaking on the occasion Dr Pramod Chaudhari said, “The energy transition & climate actions (ETCA) sector which has a global potential and contains segments like blue and green hydrogen, green ammonia and west to energy solutions is expected to drive the growth. Globally, the energy majors are likely to invest close to INR 25 Lakh Crore in the clean energy sector by 2030, whereas the traditional oil and gas market will continue to attract new investments to the tune of 21 Lakh Crore in the next 10 years’ time on the global front.”
“This will lead to the significant demand for modularization solutions for setting up plants in the above-mentioned sectors. To cater to this demand, Praj has developed strong engineering capabilities in modularization and has set up a dedicated advanced manufacturing facility at Mangalore in Karnataka with an investment of about INR 400 Cr. Spread across 123 acres of land, this plant can deliver revenues in the range of INR 2000-2500 Cr annually at the optimum level”, Dr Chaudhari added.
“The CORSIA agreement for the use of Sustainable Aviation Fuel (SAF) has opened a door to the new opportunities for Praj as India has set the target of blending 1% by 2027 and 2% by 2028. Whereas, the EU and USA has kept the SAF blending target of 6% and 10% respectively. India’s first commercial passenger flight powered by indigenously produced SAF from sugarcane molasses successfully flew from Pune to New Delhi. Air Asia, Praj and Indian Oil came together for this successful attempt”, informed Ghanshyam Deshpande.
Atul Mulay said, “The current revenues of Praj are close to INR 3400 Cr annually, and we have a goal to reach INR10,000 Cr by the year 2030. Currently, share of exports is around 29%; going forward, we are looking at increasing it to 50% by 2030.”
