EIL inks MoA with NRL for collaborative technology development

Engineers India said that the company has signed a memorandum of agreement (MoA) with Numaligarh Refinery (NRL) for jointly developing technology for 'production of aqueous ammonia from ammonia rich sour gases' and demonstrate at NRL site.

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.

Vartika Shukla, CMD, EIL, 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.

Engineers India (EIL) is an engineering consultancy and technology licensing company in the fields of hydrocarbons, petrochemicals, fertilizers, metallurgy, ports & terminals, and other sectors of industry, having a DSIR-recognized R&D center. As of 30 September 2022, the Government of India held a 51.32% stake in the company.

The company reported a consolidated net profit of Rs 75.16 crore in Q2 FY23, steeply higher than Rs 17.04 crore posted in Q2 FY22. Net sales jumped 20.7% year on year to Rs 793.06 crore in quarter ended 30 September 2022.

The scrip advanced 1.74% to end at Rs 78.90 on the BSE yesterday.

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