TIL Approves 60% Stake Buy in Tulip Compression
TIL Limited has approved the acquisition of a 60 per cent stake in Tulip Compression (TCPL), marking its strategic entry into the clean energy manufacturing ecosystem. The transaction is subject to shareholder and regulatory approvals, with an option to increase the stake to 74 per cent.
The acquisition from Gainwell Commosales expands TIL’s portfolio to include LNG and hydrogen powerpacks for material handling equipment, alongside specialised manufacturing of cryogenic LNG storage tanks, oil and gas process vessels and skids.
The integration enables TCPL’s CNG, LNG and hydrogen equipment packaging and assembly business to leverage TIL’s in-house manufacturing capabilities, strengthening backward integration and enhancing value chain control. TIL operates two certified facilities in Eastern India — a mobile crane manufacturing plant in Kamarhati, Kolkata, and a 150-acre integrated facility in Kharagpur — bringing over eight decades of engineering expertise to the partnership.
Commenting on the development, Sunil Kumar Chaturvedi, Chairman & Managing Director, TIL Limited, stated that the acquisition expands TIL’s presence across oil and gas and transportation sectors while accelerating its decarbonisation agenda.
Alok Kumar Tripathi, President & Whole Time Director, TIL Limited, noted that the move aligns with the company’s strategy of offering comprehensive engineering solutions, including LNG and hydrogen powerpacks, cryogenic storage and advanced oil and gas systems.
Raj Kumar Sachdeva, Director, TCPL, highlighted that TIL’s manufacturing strength will accelerate product development and reinforce quality standards, positioning the combined entity to lead in hydrogen compression and LNG solutions.
Headquartered in Delhi, TCPL operates two manufacturing facilities in Greater Noida. Its portfolio includes the Composite CNG Dispensing Unit (CCDU), hydrogen compression systems and the Freespin® Inline Turboexpander developed with Sapphire Technologies, USA. The company has delivered over 600 online CNG compressors to India’s City Gas Distribution sector and plans to manufacture more than 200 compressor packages annually to meet rising demand aligned with Petroleum and Natural Gas Regulatory Board requirements.
The acquisition positions TIL to strengthen its footprint in India’s evolving clean energy and gas infrastructure landscape.
A-303, Navbharat
Estates,
Zakaria Bunder Road,
Sewri (West), Mumbai - 400 015,
Maharashtra, India
+91-22-24193000
Subscriber@ASAPPinfoGlobal.com