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Birla Power to manufacture CNG gensets

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is planning to manufacture compressed natural gas and bio-diesel power generation sets. The company plans to start production of CNG gensets from September 2006. Bio-diesel genset production may start by March 2007 as this is still in the research and development stage.
 
The company is setting up a new unit spread over 20,000 square metres in Dehradun, Uttaranchal.
 
"The new manufacturing unit will be for making LPG, bio-diesel and CNG gensets. BPSL would be the first company in India to make such gensets," director, BPSL, said in a conference here.
 
The company's alternate fuel model applications involve developing generation sets using CNG, bio diesel, and high capacity LPG as fuels for the units. Birla Power has entered into a distribution agreement with HPCL for its LPG and CNG gensets.
 
The company plans to get into manufacturing higher capacity gensets up to 50 KVA, multipurpose engines and alternators. "Our focus will be in the areas of agricultural applications, rail applications, alternate fuel models, water applications and construction applications," Khazanchi added.
 
The company is also coming out with a follow on public offer to raise Rs 50.4 crore for the new unit. The issue comprises of 1.2 crore shares and is priced at Rs 42 per share, less than the current trading price of around Rs 49-51.
 
The follow on offer opens on march 24 and closes on march 29. Post-issue, the promoters' stake will come down to 26 per cent from 59 per cent at present. The company has a present net worth of Rs 56 crore. Post-issue, the company aims to have a net worth of Rs 107 crore.

 
 

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