Pune-based Praj Ind restructures business

Adopting a new identity in line with its future growth strategy, Pune based process solutions company Praj Industries has restructured its business with second generation technology. Along with ethanol production, From last three years, Praj is focusing water, pharma and biotech-led businesses .

Commenting on this, Pramod Chaudhari, executive chairman, Praj Industries said, " Ethanol will continue to be a major focus in Praj's business, the introduction of water, pharma and biotech-led businesses signifies our continued push for sustainability. Due to economic slowdown and policy changes in blending of ethanol in US and Europe, the business has been impacted. But markets like Thailand and Philippines has helped us to grow the business in the last three years. And now, we have transformed our company from being a single business sector company of ethanol solutions to multiple business organization, providing solutions for brewery, water & waste water, process equipment & systems, high purity application and bio-products."

According to Chaudhari, in the last five years Praj has spent Rs 500 crore on research & development and expansion of the business. It is setting up a new facility in North Maharashtra which will produce 50 lakh litres of ethanol every year.

The ethanol will be produced from the agriculture bio-waste. The plant will be operational by end of this year.

"Praj has achieved market leadership globally with references in more than 60 countries worldwide. The new identity will demonstrate our multi-capabilities, a diverse and global organization driven by core values like innovation and excellence for attaining sustainability. Strategically, company is increasingly focused upon engineering solutions for environment, energy and Agri-led processing industries. Our number of projects in human and livestock health and wellness, nutraceutricals & biochemicals are in the making, " he added.

The company plans to drive growth through two focus areas - growth business and established business. The former will consist of two process equipment and high purity applications in pharma, biotech as well as niche bio products.