US$50 billion turbines-cogen plant market by 2022

India’s Ducon Infratechnologies Limited (BSE:534674, NSE:DUCON), has set up a wholly owned subsidiary, Ducon Combustion Equipment Inc. (DCE), in New York, to sell diversified combustion and power products to global markets where demand is projected at US$50 billion by 2022.

The products include: steam & power turbines, Heat Recovery Steam generators, and cogeneration plants using both gas and biomass fuels.

“The world-wide market for turbines and cogeneration plants is expected to reach over US$50 billion by 2022. This growth will be driven by the increasing replacement of coal-fired power plants with natural gas and biomass plants and the rising efficiency and durability of turbines due to improved technological advances in the industry,” said Aron Govil, Chairman of the Company.

“The rationale behind setting up the subsidiary in North America is our unique ability to source reliable pre-owned & surplus equipment in this geography that balance cost, operational performance and overall risk at lower capital cost which will provide our worldwide clients with a better total project ROI,” he said.

DCE is to provide best power generation & heat recovery solutions to the public and private sector clients worldwide by sourcing surplus new, used and refurbished equipment from dealers and end-users across North America.

DCE shall work with a large network of power generation equipment manufacturers, distributors and dealers to find the best equipment that fits the requirements and budget of each project globally. fii-news.com