Ducon Emerges as L-1 in NTPC FGD Orders

NEW YORK–(BUSINESS WIRE)–$DUCON #Ducon–Ducon Group of Companies (�Ducon”) (NSE: DUCON), Ducon announced that it has emerged as the lowest bidder (L-1) on NTPC (National Thermal Power Corporation) FGD ( Flue gas Desulfurization) projects to provide its advanced FGD technology designed to remove air pollution from coal fired power plants. The first project is 2×250 MW size power plant in Barauni, Bihar, India and the other is 2×195 MW size power plant in Muzaffarpur, kanti Power plant in India. The value of the scope of work for Ducon group of companies on these two projects is approximately over $100 million.

Coal fired power plants across India are required to meet the latest emission standards prescribed by the Indian government and to achieve this, most plants will need to install FGD systems to reduce sulfur dioxide emissions. The estimated investment required in FGD systems is over Rs 80,000 crore across India. Ducon is a leading supplier of FGD systems in the Indian market and stands to benefit tremendously from this upcoming opportunity. Ducon is the only company that has successfully operating limestone and seawater FGD installations in India. The notable ones include: (i) 500 MW seawater FGD systems at Dahanu power plant and (ii) 2 x 600MW Limestone FGD system at Udupi Power Plant. Currently, Ducon has many additional outstanding FGD system proposals in India which will be decided in the coming months.

Ducon is a leading global engineering & construction firm providing the most advanced and custom engineered solutions in environmental control, renewable energy, infrastructure, and plant maintenance. Ducon, through its subsidiaries, licensees, and joint ventures, provides services to clients globally in a wide variety of industries, such as: chemical, refineries, cement, power, minerals, steel, mining, and infrastructure. Since its inception in 1938, Ducon has completed thousands of global installations, and has compiled an enviable track record of completed projects which perform reliably and economically year after year. Ducon provides single source responsibility for execution of major turn-key projects throughout the world.

Risk Statement

This press release contains forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date.

Contacts

Ron Kumar

Email: rkumar@ducon.com