L&T subsidiary signs MoU with NTPC.

L&T Hydrocarbon Engineering (LTHE) has signed a memorandum of understanding with power utility major NTPC to build a carbon dioxide to methanol demonstration plant.

The plant will comprise of three sub-units namely carbon dioxide capture from flue gas, hydrogen production by electrolysis of water and catalytic conversion of carbon dioxide (CO2), and hydrogen to methanol.

Subramanian Sarma, MD & CEO of LTHE, said: This development towards establishing CO2 to methanol plants is an important step towards India's commitment to combat climate change. LTHE, together with NTPC, will leverage its vast experience in engineering, construction and project management to successfully deliver this demonstration project.

Organized under offshore, onshore, construction services, modular fabrication and AdVENT (Advanced Value Engineering & Technology) verticals, LTHE delivers 'design to build' engineering and construction solutions across the hydrocarbon spectrum.

Shares of L&T lost 1.24% to Rs. 966.50, as the counter witnessed some bit of profit taking. The stock had gained 2.7% in the past three sessions.

Meanwhile, shares of NTPC jumped 5.02% to Rs. 99.40, as the counter regained momemtume after correcting by 0.78% in the past two sessions. In the past one month, the scrip has added 13.77% as against 2.37% rise in the benchmark S&P BSE Sensex.

BS