HLL Lifecare, a miniratna central public sector enterprise, has signed an MoU with Petronet LNG for long-term procurement of Liquefied Natural Gas (LNG) to power its factories.
The gas will be used at HLL's factories at Peroorkada and Akkulam here, an HLL release said today.
HLL Chairman and Managing Director MM Ayyappan said the tie-up was meant to ensure uninterrupted energy supply for the opeartitions of the company, a major producers of health and family planning goods and provider of wellness services.
"We expect that this contract with Petronet will go a long way in developing and adopting current technologies in the manufacturing sector," he said.
HLL currently uses 10,000 kg of furnace oil per day for its boiler Plants. The LNG requirement of the company would be in the range of 1-1.2 tonne per day at the cost of Rs.2.8 lakh, which would mean Rs 10 crore a year.
Petronet will commence supplying the gas after commissioning their LNG terminal at Kochi.
There has been a growing concern in India about energy conservation and several corporates are shifting towards natural gas, as it is reliable, affordable and clean fuel for a wide variety of needs.
