Engineers India enters MoU with US Tech giant ‘UOP LLC'; stock adds ~1%

12 Oct 2022 , 09:27 AM

Engineers India Limited informed that the company has entered into a Memorandum of Understanding (MoU) with the US Technology giant M/s UOP LLC.

The MOU between EIL and M/s UOP LLC was signed with the goal of evaluating EIL’s Tail Gas Treating Technology (EngSulfTG) and exploring its possible implementation alongside M/s UOP LLC offerings to clients worldwide.

The MOU will allow EIL to extend its technology and commercial solutions in additional geographies, which is one of the company’s core pillars of development, said the company on Tuesday.

Engineers India Limited is a central public sector organisation owned by the Ministry of Petroleum and Natural Gas of the Government of India. It is under the ownership of the Government of India’s Ministry of Petroleum and Natural Gas.

At around 9.30 AM, Engineers India was trading at Rs63.20 up by 0.64% from its previous closing of Rs62.80 on the BSE. The scrip opened at Rs63.30 and touched intraday high and low of Rs63.30 and Rs63.05 respectively.

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