Thyssenkrupp Industries India, whose German parent recently sold most shares in the company, is planning to enter the sustainable aviation fuel (SAF) sector as part of its new strategy under Indian ownership, reported The Economic Times.
Vivek Bhatia, managing director, informed The Economic Times that the company is currently in the process of finalizing partners for the SAF venture. “We have a short-term horizon and aim to actively participate in the market within the next 12-18 months,” he stated.
Bhatia emphasized that this venture is part of the company’s broader initiative to transform its sugar business into a diversified entity encompassing sugar and biochemicals. “We want to get into ethanol, bio CNG, lactic acids and polylactic solutions all the way up to SAF. We aim to utilize biomass associated with sugar production as well as other sources to contribute to the industry’s green transformation,” he explained.
SAF is a sustainable alternative to traditional aviation fuels, derived from non-petroleum sources such as agricultural and forestry residues, used cooking oil, captured carbon, and green hydrogen.
Thyssenkrupp Industries India specializes in industrial equipment, offering engineering, procurement, and construction services primarily for projects in mining, energy, and sugar sectors. Following the sale of its industrial business in India, the company plans to focus on its cement operations as a key growth area under its new ownership, with detailed capital expenditure plans expected to be finalized soon.
On May 8, it completed the sale of its industrial business in India. The majority stake in Thyssenkrupp Industries India, held by German’s Thyssenkrupp, was sold to the existing co-shareholders Paharpur Cooling Towers and Protos Engineering Co.
