Engineers India Limited (EIL) shares jumped 3% on Tuesday after Oil and Natural Gas Corporation’s research and development arm, ONGC Energy Centre Trust (OECT), signed an agreement with the company to set up a Helium Recovery Demonstration Plant at ONGC’s Kuthalam Gas Collection Station in Cauvery Asset, Tamil Nadu. As of 9:32 AM, the shares were trading 2.32% higher at Rs 195.74.
The agreement, signed on 18 August 2025, is valued at ₹39.42 crore (plus GST) and covers preparation of the Detailed Project Report (DPR), Basic Engineering Design Package (BEDP), and execution through EPCM and Supply model, including design, procurement, construction, commissioning, and performance testing. The project is scheduled for completion within 18 months.
The upcoming demonstration plant will process 750 Nm³/hr of natural gas and is capable of operating at 110% of its design capacity. Developed with CSIR–Indian Institute of Petroleum (CSIR-IIP) technology, the facility will produce Grade-A Helium with 99.995% purity.
Helium, widely used in space exploration, semiconductor manufacturing, cryogenics, fibre optics, and medical technologies, is currently imported into India. The project marks a major step in reducing import dependency and aligns with the government’s Atmanirbhar Bharat vision by strengthening indigenous capability in high-value gases.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
