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New technology aimed at enabling Indian refiners to get more out of each barrel of oil and produce higher-grade, cleaner-burning diesel
GURGAON, Haryana, India, May 23, 2016 – Indian Minister of Petroleum and Natural Gas Shri Dharmendra Pradhan today unveiled a new refining technology at Honeywell’s (NYSE: HON) India Technology Center, which is dedicated to helping Indian refiners get more clean transportation fuels from every barrel of oil.
The technology is one of several being developed at the center by Honeywell UOP, a world leader in developing and licensing process technologies used in oil refining and the production of petrochemicals and renewable fuels in India and globally. The company has invested about $40 million at the facility, which is one of the main technology development hubs for Honeywell UOP outside the U.S. It also develops technologies for other Honeywell businesses in the region.
“The Indian government is committed to innovation and being an early adopter of technologies to drive growth for the country,” Shri Pradhan said. “I am pleased to launch this new Honeywell technology today, dedicated to making Indian refiners more competitive and efficient.”
The technology inaugurated at the event is a pilot plant specifically designed to develop advanced hydrocracking catalysts that can more efficiently produce higher yields of clean-burning diesel fuel from crude oil. The technology can allow Indian refiners to get more from each barrel of oil, helping reduce imports of crude oil while producing environmentally preferable diesel fuels.
“The Hon’ble Prime Minister’s visionary call to realize a 10 percent reduction in the country’s crude imports by 2022 has already set a challenge before the Indian hydrocarbon sector, making this advanced hydrocracking technology the solution of choice to help meet this goal and meet the growing demand for energy in India,” said Steven C. Gimre, Managing Director, UOP India Private Limited.
In the past, Honeywell UOP has helped India meet its goal for production of petrol and diesel in the 1980s and to implement Euro III and Euro IV fuel specifications in the 1990s. Today, Honeywell UOP’s technologies are deployed in every refinery in India. More than half the country’s oil and more than 70 percent of the country’s gasoline are made with Honeywell UOP processes, and more than 85 percent of the nation’s biodegradable detergents are produced using Honeywell UOP technologies. More recently, Honeywell UOP entered into a collaboration agreement with Indian Oil Corporation Limited (IOCL) to develop a range of biofuels technologies.
“Honeywell India employs close to 15,000 people to deliver innovative technologies that help customers improve energy efficiency, safety, security, and productivity – all of which are key imperatives for India. Honeywell and its employees are creating solutions and technologies in India, for India, and for the rest of the world,” said Anant Maheshwari, President of Honeywell India.
Honeywell is aligned with and has a significant Make in India footprint with seven manufacturing facilities in Chennai, Dehradun, Gurgaon, Pune and Vadodara, and five technology and engineering centers in Bangalore, Gurgaon, Hyderabad and Madurai.
Honeywell has operated in India since 1931, when Honeywell UOP technologies were used to commission India’s first refinery in Digboi, Assam. Since then, Honeywell has been helping fuel the sector’s growth working with almost every public sector undertakings (PSUs) in the oil and gas sector.
Honeywell UOP (www.uop.com) is a leading international supplier and licensor of process technology, catalysts, adsorbents, equipment, and consulting services to the petroleum refining, petrochemical, and gas processing industries. Honeywell UOP is part of Honeywell’s Performance Materials and Technologies strategic business group, which also includes Honeywell Process Solutions (www.honeywellprocess.com), a pioneer in automation control, instrumentation and services for the oil and gas, refining, petrochemical, chemical and other industries.
Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.
This release contains certain statements that may be deemed “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
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Saptarshi R Dutta
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