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25 January 2013
Nandan Cleantec plc
Award of Supply Agreement
Nandan Cleantec plc ("Nandan" or the "Company"), a scaled vertically integrated biofuel producer, is pleased to announce its subsidiary Nandan Cleantec Industries Limited ("NCL") has today signed a supply agreement with HK Petroleum Limited ("HK").
HK is a marketing, sales, trading and logistics company focused on the heavy oils sector of the Petroleum industry. Nandan has agreed to produce 12,500 metric tonnes of Methyl Esters and/or Biodiesel collectively per month for HK. This supply agreement of 12,500 metric tonnes represents approximately 50% of the full capacity of Nandan's current processing facility located within the Special Economic Zone in Visakhapatnam, India.
NCL's agreement with HK is contracted to last for a minimum period of 12 months and will be renewed for successive periods of 12 months at each anniversary if both parties agree. It is anticipated that the first sales of Methyl Esters and/or Biodiesel under this agreement will commence in April 2013.
Prasad Moturi, Chairman and Managing Director of Nandan said:
"We are delighted to have come to an agreement with HK and to have been awarded this significant supply contract. This is a resounding endorsement of our capabilities in large-scale processing and we look forward to delivering on HK's requirements in the months ahead."
For more information, please contact:
Nandan Cleantec plc | |
Srinivas Prasad Moturi | Tel: +91 40 6550 7799 |
Arden Partners plc | |
Steve Douglas | Tel: 020 7614 5917 |
FTI Consulting | |
Matt Dixon / Emma Appleton | Tel: 020 7831 3113 |
Notes to Editors
About HK Petroleum Limited
HK Petroleum is a marketing, sales, trading and logistics company focused on the heavy oils sector of the Petroleum industry. We provide strategy, solutions and management for numerous petroleum products. Our products include biodiesel fuel, bio fuel, VTB, bunker oil, cutter stock, fuel oil, used oil, Naphtha, heavy fuel oil, feed stock, residual oil, storage tank oil, sludge oil, used lubricants, bunker fuel, off road diesel, VGO and more.
HK Petroleum also supplies blending and bunker companies - domestically and internationally - with off spec oil refinery streams and petroleum products from tank decommissioning pump outs for utility companies, oil storage tank cleanings, inspections and oil tank decommissioning. We handle all the turn-key arrangements from pumping equipment to petroleum logistics needed to move your product to any port in the United States for one of
our customers.
For more information about HK Petroleum Limited visithttp://hkpetroleum.com
This information is provided by RNS
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