Total-Vinergy JV to roll out bitumen products
French oil major, Total, has joined hands with Indian firm, Vinergy International, for manufacturing and marketing of value-added bitumen products.
By ET Bureau |
NEW DELHI: French oil major, Total, has joined hands with Indian firm, Vinergy International, for manufacturing and marketing of value-added bitumen products. The two partners have 50% equity stakes each in the joint venture ��� Total Vinergy Bitumen India.
The JV claims to be the first in bringing in modified bitumen product technology. Total Petroleum India country chairman, Christian Chammas, said that the technology would bring in ecological benefits and would also enhance durability of the Indian roads. ���With this technology, less amount of bitumen is required in road construction. This is not only cost-effective, but also environment friendly,��� Total���s senior vice-president (Asia Pacific), Thierry Pflimlin, said.
The JV firm has already set up its first production facility in Jodhpur (Rajasthan). It plans to build another three facilities, with a total investment of Rs 100 crore, in the next three years. At its full production capacity, the company would produce 300,000 tonne of bitumen and related products, annually.
The company looks at India as a big market for bitumen. ���Currently, there is 3.7 million tonne of bitumen available in the country, while the current demand is of 4.1 million tonne. And it is growing,��� Vinergy International managing director, Mukul Agarwal, said.
The National Highway Development Project (NHDP) plans to build over 45,000 kilometres of roads in the next ten years, he said. The company is in talks with the three public sector refiners for the raw material.
The JV claims to be the first in bringing in modified bitumen product technology. Total Petroleum India country chairman, Christian Chammas, said that the technology would bring in ecological benefits and would also enhance durability of the Indian roads. ���With this technology, less amount of bitumen is required in road construction. This is not only cost-effective, but also environment friendly,��� Total���s senior vice-president (Asia Pacific), Thierry Pflimlin, said.
The JV firm has already set up its first production facility in Jodhpur (Rajasthan). It plans to build another three facilities, with a total investment of Rs 100 crore, in the next three years. At its full production capacity, the company would produce 300,000 tonne of bitumen and related products, annually.
The company looks at India as a big market for bitumen. ���Currently, there is 3.7 million tonne of bitumen available in the country, while the current demand is of 4.1 million tonne. And it is growing,��� Vinergy International managing director, Mukul Agarwal, said.
The National Highway Development Project (NHDP) plans to build over 45,000 kilometres of roads in the next ten years, he said. The company is in talks with the three public sector refiners for the raw material.
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