Lloyds Engineering Works Limited has entered into Agreement with Bhabha Atomic Research Centre for Transfer of Technology. The aforesaid license will aid the Company in executing orders related to Desalination. Also, this License is valid for five years from the date of commencement of the agreement.

Further, this Technology tie-up would assist the Company on a long-term basis as it helps in further diversification of the order book. Name of the entity with whom the Agreement is signed: Bhabha Atomic Research Centre, Mumbai. (BARC).

It operates under the Department of Atomic Energy (DAE), Government of India. Area of the Agreement: Transfer of Technology of Multi Effect Distillation with Thermo Vapour Compression (MED-TVC) Desalination Technology. Scope of Business operation of agreement: Agreement covers the modalities, terms and conditions of Non-exclusive and Non-transferable grant of License for transfer of Information and data concerning the Asset by BARC to us.

Significant Terms and conditions of Agreement: The Licensee shall utilize the Asset /Technology for manufacturing & fabrication of Multi Effect Distillation with Thermo Vapour Compression (MED-TVC) Desalination Technology in India and selling the same in India and/or abroad. Term of agreement: Five years from the date of commencement of agreement. Rationale and benefit expected: Use the Technology to setup and/or operate "Multi Effect Distillation with Thermo Vapour Compression (MED-TVC) Desalination Technology in its refineries/units/subsidiaries and also to commercialise the Technology by selling it as a final product of same characteristics as of that developed by BARC to other interested third parties in India and/or abroad.

Further the aforementioned technology shall be used for Desalination of Sea water which can be used for Commercial purpose in India and/or Abroad.