Do More With Reuters
Partner Services

Praj forms joint venture with Brazil's Jaragua

Thu Dec 13, 2007 12:21pm IST
 
Email | Print | | Single Page
[-] Text [+]

MUMBAI (Reuters) - Praj Industries Ltd said on Thursday it has formed a joint venture with Brazil's Jaragua Equipamentos Industriais Ltda.

Praj will hold 54 percent in the venture with the Brazilian firm holding the remaining stake, it said in a statement.

The venture, situated in Brazil, will provide the Indian company an entry into the global ethanol market, it added.

The new venture will supply the entire gamut of services right from extraction of sugarcane juice to ethanol production.

Jaragua is an engineering, procurement, construction and manufacturing firm with experience in oil & gas, petrochemicals, energy and sugar business.

"The formation of the joint venture in Brazil demonstrates Praj's commitment to the Brazilian ethanol market," chairman of Praj, Pramod Chaudhuri, said in the statement.

Shares in Praj were trading up 2.85 percent at 241.50 rupees in the Mumbai market.

Construction workers work at a site as the sun sets in Chandigarh in this December 2006 file photo. REUTERS/Ajay Verma
Economy seen growing at 7.2 pct in FY10 - govt

The forecast reinforces the possibility that the government may start to unwind its fiscal stimulus in the budget.  Full Article 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives
Greece's Finance Minister Papaconstantinou addresses reporters during a news conference in Athens, January 20, 2010.
Eurozone agreed in principle to aid Greece

Euro zone countries have decided in principle to help debt-stricken Greece, a senior German ruling coalition source said.  Full Article 

FROM THE MARKETS

After the Bell
After the Bell

Reuters Money's Kshitij Anand updates you on the movers and shakers of the Indian stock market.  Blog 

SHOWCASE

"Claw Back" Pay
"Claw Back" Pay

Banks and regulators hope that threats to "claw back" pay if trades later blow up will rein in risk taking on Wall Street.  Full Article 

 
James Saft
Blaming Asperger's

COLUMN - Did Asperger's help cause the financial crisis?  Full Article 

 
Going Global
Going Global

With Volvo, Chinese eye M&A abroad to win at home.  Full Article 

 
Delivery Woes
Delivery Woes

Boeing 787 delivery schedule could slip - experts.  Full Article 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage