Praj investing up to $240 million in 2G plants to get projects off the ground

In India, Praj is so confident in its 2G technology or so desperate to secure orders that the debt-free company is willing to take on loans in order to finance its share of the financing for the four plants recently signed with the Indian Oil Corporation and Bharat Petroleum Corporation. The company is expected to invest $59 million for each of the four facilities. As of the quarter ending in September, ethanol represented 62% of its new orders following a shift in company strategy that sought a 50/50 balance between ethanol and non-ethanol orders.