Indraprastha Gas Partners with Hindustan Waste Treatment for Biofuel Projects
Indraprastha Gas (IGL) has entered a joint venture with Hindustan Waste Treatment (HWT) to develop a compressed biogas plant and biofuel projects, with both companies holding equal 50% stakes. This partnership follows a similar collaboration IGL formed with CEID Consultants & Engineering in November. Following the announcement, IGL shares rose 1.71%, closing at Rs 196.
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Indraprastha Gas (IGL) has formed a joint venture with Hindustan Waste Treatment (HWT) to establish a compressed biogas plant and biofuel projects, with both parties holding equal equity participation of 50%. The joint venture's board will initially consist of four directors, two from each partner.
In November, IGL also entered into a similar joint venture with CEID Consultants & Engineering for biofuel projects, maintaining the same equity ratio. IGL shares closed up 1.71% at Rs 196, with a market capitalization of Rs 27,139.03 crore. The stock has a 52-week high of Rs 229.20 and a low of Rs 172.00.
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