Page 157 - CW E-Magazine (16-4-2024)

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ENERGY TRENDS LOGISTICS
Fuel demand hits new record in FY24, up about 5% Jeena & Co. acquires JBS Group

India’s fuel consumption fell 0.6% rose 6.9% year-on-year Jeena & Company, a leader in JBS Group, founded in 1957 by anticipates a 100% projected growth,
year-on-year in March, but demand to 3.32-mt and were up freight forwarding and supply chain Mr. J.B. Shah, is as an ISO-certifi ed leveraging the combined expertise and
for the 2024 fi nancial year was up 6.4% for the fiscal year. solutions, has announced the acqui- group with diverse entities specializ- resources of both legacy entities,” the
about 5%, primarily driven by higher Sales of bitumen, used sition of the 67-year-old JBS Group ing in customs clearance, multimodal company said.
automotive fuel and naphtha sales. for making roads, were based in Ahmedabad, Gujarat. The transport operations, and IATA cargo
largely steady in March, merged entity, to be named JBS JEENA handling. The addition brings an As a part of the merger, Jeena & Co.
Total consumption, a proxy for oil but were up 9.9% for the Logistics, will provide comprehensive extra 95 Pin Codes to the existing 300+ will acquire the customers, team, and
demand, totalled 21.09-mt in March, fiscal year. logistic services, encompassing both pan-India Pin Codes. “With this assets of the JBS Group and expand its
down from 21.22-mt last year, pre- international and domestic sectors. development, JBS JEENA Logistics custom clearance footprint in Gujarat.
liminary data from the Petroleum Sales of liquefi ed petro-
Planning and Analysis Cell (PPAC) leum gas (LPG), rose IGL to commission expanded distillery & chemicals
of the oil ministry showed. 8.6% to 2.61-mt, while
used by trucks and commercially naphtha sales jumped 5.5% to about projects by Q2 FY25
However, fuel demand for FY24 run passenger vehicles, rose 3.1% 1.19-mt, compared with last March.
(ending March 31), hit a record high year-on-year to 8.04-mt in March The usage of fuel oil fell 9.7% year- India Glycols Ltd. has announced an The second phase of expansion been partially commissioned (pro-
of 233.276-mt, compared to 223.02-mt and was up 4.4% from the previous on-year in March and declined 6.3% update in connection with the enhance- (100-klpd) of grain-based distillery duction capacity of approx. 5,000-tpa
a year earlier. Sales of diesel, mainly fi scal year. Sales of gasoline in March for the fi scal year. ment of capacity of its grain-based is in progress and is expected to be depending upon the product mix)
distillery and expansion of facilities/ commissioned by Q2 FY25. Further, and the remaining facilities/project is
ELECTRIFICATION project for new value-added chemical expansion of facilities/project for new expected to be commissioned by Q2
Hyundai and Kia in pact with Exide to localise products at Kashipur (Uttarakhand). value-added chemical products has FY25.

EV batteries BOARD APPROVAL

Hyundai Motor Company and Kia Kolkata-based Grasim gets nod for acquisition of 26% stake
Corporation have signed an agree- Exide Industries, a lead- in Clean Max Decimus
ment with Exide Energy Solutions ing lead-acid battery
Ltd., an Indian battery company, to supplier in India has The Board of Directors of Vehicle (SPV) for generation comply with regulatory
localise electric vehicle (EV) batteries over 75 years of ex- Grasim Industries, the fl agship company and transmission of renew- requirements for captive power
in India. perience and market of the Aditya Birla Group, has, at able energy. consumption under electricity
leadership in lead-ac- its meeting held on April 4, 2024, laws.
This strategic cooperation with id batteries. approved the acquisition by Grasim The objects of acquisition
Exide Energy marks the beginning of of 26% of the equity shares of Clean are to meet the green energy The cost of acquisition is
Hyundai Motor and Kia’s efforts to Hyundai Motor Max Decimus, a Special Purpose needs; optimise energy costs; and Rs. 94.50-lakh.
expand its exclusive battery develop- and Kia plan to intro-
ment, production, supply and partner- duce more EV models BIOFUELS
ships in the Indian market, according EV battery production, specifi cally to the Indian market. Hyundai pre-
to a company statement. focusing on lithium-iron phosphate sently sells two EVs – the Kona Elec- Gulshan Polyols bags contract for additional ethanol
(LFP) cells. “Through this global tric and the Ioniq 5 and it sold close
The agreement was signed at partnership with Exide Energy Solu- to 2,000 units in 2023, while Kia supply
Hyundai Motor Group’s Namyang tions Ltd., we will gain a competitive sold about 500 electric cars. Hyundai
Research and Development Center in advantage by equipping Hyundai had indicated that it would introduce Gulshan Polyols Ltd. has been 500-klpd (kilolitres per day) etha-
South Korea. Motor and Kia’s future EV models in fi ve EV models by 2032 in India and awarded a contract worth Rs. nol plant at Boregaon Telangana.
the Indian market with locally-pro- expand the number of EV charging 78.43-crore for additional supply of Gulshan Polyols’ business portfolio
With the expansion of their EV duced batteries,” said Mr. Heui Won stations to more than 430 by 2027 by 11,396-kl (kilolitres) of ethanol for broadly spans across three segments,
plans for the Indian market, Hyundai Yang, President and Head of Hyundai leveraging the strength of the company’s Q3 and Q4 (Ethanol Supply Year, viz., grain processing, bio-fuels and
Motor and Kia aim to localise their Motor and Kia’s R&D Division. sales network. ESY) till October 31, 2024 from its mineral processing.

156 Chemical Weekly April 16, 2024 Chemical Weekly April 16, 2024 157

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