Nayara Energy inks MoU with IIT-D, Gexcon to set up COE

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 New Delhi: Nayara Energy, a new-age integrated downstream energy company, signed a tripartite memorandum of understanding(MOU) withtheFoundation for Innovation &Technology Transfer(FITT), IIT-Delhi and Gexcon to further progress development and implementation of process safety and risk management standards in the manufacturing industry. The MOU will enable Nayara Energy to advance its operational excellence journey and strengthen process safety coherent with global standards.

Committed to drivinginnovation in process safety andrisk management, the Company is collaborating with IIT-Delhi and Gexcon, a leading company  in the field of safety and risk management to fosterhigh-performance safety standards and effective mitigation systems across projects at itsVadinar refinery.

A distinguished scientist, Dr. J. P. Gupta propositioned an urgent need for India to develop a Centre of Excellence (COE) to promote, education, research and development in process safety in line with several global institutes. He alluded that this COE will be the first-of-its-kind in India that will be involved in training, higher education, research, developing innovative solutions and consultancy work in process safety.

Speaking on the occasion, Nayara Energy CEO B. Anand said, “Nayara Energy aims to achieve global leadership in process safety and risk management standards and we are delighted to partner with IIT-Delhi and Gexconto help us in our process transformation journey. The MOU marks a significant milestone as it promotes cooperative research and facilitation of ideas in process safety, risk assessment and mitigation modelling.”

FIIT MD Dr. Anil Wali echoed Prof. K. K Pant, Head of the Chemical Engineering Department, IIT Delhi who said, “The focus on innovation in process safety & risk management by Nayara Energy in academia shall enable development of newperformance standards forthe manufacturing sector. The capability to develop and implement these standards will help the industry to reduce environmental, personnel and asset risk in their operations and improve the overall standards in a more cost effective and sustainable manner.”

Gexcon India Country Head Raj Narkhede said, “We look forward to supporting Nayara Energy’sprocess transformation to better identify, manage and deliver innovative ideas in managing Process Safety & Risk Management while handling hazardous chemicals using Gexcon AS’s global experience.

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