Praj Industries shares in focus on securing bioethanol project in Paraguay
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Shares of Praj Industries are expected to be in focus on Friday, June 6, following the announcement that Enersur S.A., one of Paraguay's leading renewable energy companies, has selected the Indian engineering major for a fully integrated BioRefinery Project in Paraguay.Under this strategic partnership, Praj will support the development, assessment, and phased implementation of the biorefinery, which aims to produce ethanol along with co-products such as distillers dried grains with solubles (DDGS), corn oil, biogas, bio-bitumen, and sustainable aviation fuel (SAF).This project builds upon a previous contract awarded to Praj by Enersur to design, supply, and commission a 600 m³/day Anhydrous Ethanol plant in Canindeyú, Paraguay, which uses corn as feedstock.The plant is expected to be fully operational by October 2026 and marks a major milestone in Paraguay's commitment to clean energy and rural development.Praj's responsibilities will include technology licensing, engineering design, core equipment supply, and on-ground supervisory support.The initiative is anticipated to generate significant employment opportunities, driving inclusive economic growth in rural Paraguay while reinforcing the global transition to low-carbon energy.'This partnership goes beyond ethanol—it embodies our shared vision to harness the full potential of bio-based innovations for clean energy, circular economy, and long-term energy resilience across South America,' said Pramod Chaudhari, Founder Chairman of Praj Industries.The collaboration was formalized during the recent state visit of Paraguayan President Santiago Peña Palacios and a high-level delegation to India from June 2 to 4, 2025.'As the world accelerates its transition to greener energy, this landmark project represents a major step forward for Paraguay while reinforcing Praj's strong and growing presence in South America. With over 100 references across the Americas—including the USA, Brazil, Colombia, Argentina, and Peru —Praj continues to deliver cutting-edge, sustainable bioeconomy solutions across the region,' the company said in an exchange filing.On Thursday, the shares of Praj Industries closed nearly 1% lower at Rs 489.75 on the BSE.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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