The Chatterjee Group (TCG) controlled Lummus Technology and TCG Digital has announced a strategic joint venture (JV) to explore and harness technology opportunities in the refining, petrochemical, and gas processing market in India.
The Lummus Digital JV will work with Lummus' existing and potential customers to implement digital analysis and operative solutions in their refining, petrochemical, and gas processing assets and across the hydrocarbon processing value.
Lummus Technology is a leading master licensor of proprietary technologies in the refining, petrochemicals, gas processing and coal gasification sectors.
The company was taken over by The Chatterjee Group's Haldia Petrochemicals along with private equity firm Rhone Capital in June 2020. The deal size was valued at USD 2.725 billion.
The JV will co-create and innovate with other areas of the group like TCG Crest, research university, LabVantage and Haldia Petrochemicals.
Lummus Digital will explore the refining, petrochemical, and gas processing market in India where substantial growth is expected. It will also start its operations in the US, Middle-East, and Europe.
