BGR Energy inks technology transfer pact with Italian firmDecember 22nd, 2008 - 3:31 pm ICT by IANS
Chennai, Dec 22 (IANS) City-based Rs.15.25-billion BGR Energy Systems Ltd has inked a technology transfer agreement with Italian firm TME SpA Termomeccanica Ecologia (TME), the company announced Monday.As per the agreement, the $235-million Italian environment and industrial engineering company would provide the technical know-how to BGR Energy to build condensate polishing plants that are used in power projects.
The condensate polisher is a device installed in plants to remove contaminants from demineralised water to enable its reuse.
BGR expects at least 15 condensate polishing plants to be procured annually by power generation companies.
As of now, Driplex Water is perhaps the only company which has been supplying such plants in Indian market.
BGR Energy has recently signed credit agreements to the tune of Rs.21.05 billion (Rs.2,105 crore) with five banks to finance its 1×600 MW Mettur power project in Tamil Nadu.
State Bank of India (Rs.5.25 billion), Vijaya Bank and Punjab National Bank (Rs.2.5 billion each), Indian Overseas Bank (Rs.5.80 billion) and State Bank of Patiala (Rs.5 billion) would provide the amount.