Aker Kvaerner and Praj JV for European bio-fuels market

Praj Industries Ltd. and Aker Kvaerner, today announced a significant step in the expansion of their association, confirming that they are to create a joint venture (JV), for the European market. Aker Kvaerner has approved the implementation of the JV, and this consent joins the Praj Industries’ Board approval (announced by Praj on 19 April 2007) wherein Praj will hold a 60 per cent share of the JV and Aker Kvaerner will hold 40 per cent.