Ducon Infratechnologies Provides FGD Market Update

Ducon Infratechnologies Limited (BSE:534674, NSE:DUCON), (“Ducon Infratechnologies”) announced today that the Company has been actively submitting new proposals for Flue Gas Desulfurization (FGD) systems for power plants and industrial boilers. The Company has been proactive in revising earlier submitted proposals and attending technical review meetings with potential customers all over India. The promulgation and enforcement of various governmental regulations that mandate the Sulfur dioxide emitting industries to install air pollution control equipment in their plants has the potential demand for large number of FGD system projects in India.

Ducon Infratechnologies is a leading supplier of FGD systems in the Indian market and stands to benefit tremendously from this upcoming opportunity. Among the Company’s many successfully operating 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 Infratechnologies has outstanding FGD systems proposal on 20 different projects both in private and public sector power plants, totaling approximately 10,000 MW of power capacity where it is actively involved in discussions. Additionally, there are many other projects which are in preliminary stages where budgetary proposals have been submitted by the company.

“We have been extremely busy for this past year in interacting with potential customers and submitting our proposals, however the FGD order flow has not been there as very few FGD projects have been awarded to date .” said Mr. Aron Govil, Chairman & CEO of Ducon Infratechnologies. “FGD projects are very large in value and thus will take their own time to get funds allocated for them; however, we are very confident that the power plants will have to eventually start making decisions on these FGD proposals thus providing a lucrative business opportunity for the Company in the years to come.” continued Mr. Govil.

The Markets & markets report dealing with FGD systems depicts that the global FGD market for installations at Power plants, Chemical, and other manufacturing plants is projected to grow from USD 16.00 Billion in 2017 to USD 21.00 Billion by 2022 at a CAGR of 5.6% from 2017 to 2022. The report highlights that the Asia Pacific FGD system market is projected to clock a higher CAGR compared to other regions during the forecast period due to continuously increasing demand for energy, rapid industrialization, and rise in awareness towards adverse impacts of air pollution in the region. The chemical sector along with cement manufacturing and metal smelting units in that region are also growing continuously, thereby leading to the increased demand for FGD systems from that region.

About Ducon Infratechnologies Limited

Ducon Infratechnologies Limited (BSE: 534674, NSE: DUCON) is a technology company based in India for providing solutions in the Industrial, infrastructure & digital space to multiple business segments across varied industries. The Company diversified into FGD systems, bulk material handling systems, and Electrification & infrastructure markets through recently completed demerger process. The original IT business of the company deals with network & hardware solutions, marketing initiatives, distribution, volume procurement and end to end technical support. In the recently acquired infrastructure business, the Company offers execution of turnkey FGD systems for power & industrial boilers, bulk material handling systems and electrification projects across India and neighboring regions. The Company is led by a team of young and dynamic professionals with technical, marketing and sales know-how and has an objective to become a leading solution provider in the digital and infrastructure business sectors.

Disclaimer: Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors. that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.