THANE, India--(BUSINESS WIRE)--(BSE:534674, NSE: DUCON) - Ducon Technologies (I) Pvt. Ltd. (“DTIPL”) announced today that the Company is experiencing increased proposal activity in its Flue Gas Desulfurization (FGD) systems market in India.
Aron Govil, Chairman of the Company cited several reasons for this increased activity:
(i) India’s economy has been growing steadily at an average annual rate of 7% in recent years supported by market reforms, huge inflows of foreign direct investment, growing foreign currency reserves.
(ii) In order to sustain this growth rate, India will need to triple or quadruple its total electricity generation capacity from 148 GW to nearly 800 GW by 2026.
(iii) This growing electricity demand coupled with increasing dependency on coal & Oil for power generation is expected to boost the India’s market demand for FGD system over the next five years because the Ministry of Environment, Forest & Climate Change (MOEF) in December 2015, revised its standards for coal-based Thermal Power Plants, by requiring reduction of sulfur dioxide to 7.3 kg/Mwh and Nitrogen Oxide to 4.8 kg/Mwh in order to help improve the ambient air quality in the country.
“DTIPL is presently involved in bidding on over 10,000 MW of FGD projects in the coming next 4 months in India,” continued Mr. Govil.
Ducon Technologies (I) Pvt. Ltd. is a leading company in India providing the most advanced technologies & equipment for FGD Systems, Material Handling systems, Electrical Transmission & distribution systems, and turnkey EPC projects since 2005. DTIPL provides custom engineered FGD & SCR DeNOx systems, bag filters, FCC refinery cyclones, for power plants, refineries, steel & mineral plants and other industries. Ducon also supplies ash, coal, alumina and other material handling, wagon loading and unloading systems. Ducon provides single source responsibility for execution of major turn-key projects throughout Southeast Asia. DTIPL is currently being amalgamated with Ducon Infratechnologies Ltd. (BSE:534674, NSE: DUCON) another Ducon group company in India. Ducon Infratechnologies Limited is an emerging technology company for providing solutions in the digital and cloud space to multiple business segments across varied industries by offering distribution services to its clients related to marketing initiatives, distribution, volume procurement and end to end technical support.