Thyssenkrupp India ventures into the SAF foray
ECONOMY & POLICY

Thyssenkrupp India ventures into the SAF foray

Thyssenkrupp Industries India, whose German parent had recently divested most shares in the company, expressed its intention to enter the sustainable aviation fuel (SAF) sector as part of its new business strategy under Indian ownership. Vivek Bhatia, the managing director, mentioned that the capital goods company was in the process of finalising partners for the SAF initiative. He stated that they aimed to actively participate in the market within the next 12?18 months.

Bhatia explained that their venture would involve "rebranding and reimagining its sugar business into a sugar and biochemicals business." He further indicated, "We want to explore ethanol, bio-CNG, lactic acids, polylactic solutions, and eventually SAF. Our goal is to utilise sugar-associated biomass and other biomass to contribute to the industry's green transformation."

SAF, an alternative fuel derived from non-petroleum sources that reduces emissions from air travel, has seen significant adoption by global markets and airlines like Qantas. Bhatia noted that while India was still in its early stages of SAF adoption, the country was developing a plan for its integration into aviation fuel. Jyotiraditya Scindia, the aviation minister, recently mentioned India's goal for 1-5% of commercial flights to use SAF by 2027.

In addition to these plans, Indian Oil Corporation is collaborating with LanzaJet and domestic airlines to establish a SAF production facility using alcohol-to-jet technology at IOC's refinery in Panipat, Haryana, at an estimated cost of Rs 30 billion.

Thyssenkrupp Industries India, previously an industrial equipment provider under German ownership, completed the sale of its Indian industrial business on May 8. The majority stake, previously held by Thyssenkrupp Germany, was acquired by existing co-shareholders Paharpur Cooling Towers and Protos Engineering Co.

Thyssenkrupp Industries India, whose German parent had recently divested most shares in the company, expressed its intention to enter the sustainable aviation fuel (SAF) sector as part of its new business strategy under Indian ownership. Vivek Bhatia, the managing director, mentioned that the capital goods company was in the process of finalising partners for the SAF initiative. He stated that they aimed to actively participate in the market within the next 12?18 months. Bhatia explained that their venture would involve rebranding and reimagining its sugar business into a sugar and biochemicals business. He further indicated, We want to explore ethanol, bio-CNG, lactic acids, polylactic solutions, and eventually SAF. Our goal is to utilise sugar-associated biomass and other biomass to contribute to the industry's green transformation. SAF, an alternative fuel derived from non-petroleum sources that reduces emissions from air travel, has seen significant adoption by global markets and airlines like Qantas. Bhatia noted that while India was still in its early stages of SAF adoption, the country was developing a plan for its integration into aviation fuel. Jyotiraditya Scindia, the aviation minister, recently mentioned India's goal for 1-5% of commercial flights to use SAF by 2027. In addition to these plans, Indian Oil Corporation is collaborating with LanzaJet and domestic airlines to establish a SAF production facility using alcohol-to-jet technology at IOC's refinery in Panipat, Haryana, at an estimated cost of Rs 30 billion. Thyssenkrupp Industries India, previously an industrial equipment provider under German ownership, completed the sale of its Indian industrial business on May 8. The majority stake, previously held by Thyssenkrupp Germany, was acquired by existing co-shareholders Paharpur Cooling Towers and Protos Engineering Co.

Next Story
Real Estate

Emaar to invest Rs 1,000 crore in Gurugram housing project

Emaar India, a prominent real estate developer, has announced a major new project in Gurugram, one of the most sought-after residential locations in the National Capital Region (NCR). The company is investing approximately Rs 1,000 crore in the development of a luxury housing project named ‘Amaris.’ The project, situated on Golf Course Extension Road in Gurugram’s Sector 62, will span over 6.2 acres and is expected to feature 522 high-end apartments, with a total development potential of 15 lakh square feet. This project, launched in response to the growing demand for premium residentia..

Next Story
Infrastructure Urban

Punjab-Haryana HC slams ED over IREO money laundering investigation

The Punjab and Haryana High Court criticised the Enforcement Directorate (ED) for conducting a ‘slipshod and unprofessional’ investigation into money laundering cases involving IREO and its functionaries. The court directed the ED's director to address the lapses in the probe. The court noted that the accused company's real estate assets were allowed to be disposed of without proper oversight. Justice Kuldeep Tiwari issued these directives after being informed of a November 6 order by a coordinate bench, in which Gulshan Babbar sought the cancellation of bail granted to IREO MD Lalit Goya..

Next Story
Infrastructure Urban

Capitaland to buy 40% stake in SC Capital Partners for $209.31 mn

Singapore's CapitaLand Investment announced that it plans to acquire a 40 per cent stake in SC Capital Partners Group (SCCP) for $280 million. Additionally, the company intends to invest at least $524 million in SCCP. The acquisition of the 40 per cent stake in SCCP, a Singapore-based real estate investment manager, is expected to increase CapitaLand's funds under management (FUM) by $11 billion. The company explained that this move would strengthen its presence in Japan, its key market, where 76 per cent of the additional $11 billion FUM is located. In its statement, CapitaLand emphasised t..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000