9AUGUST 2025EIL, ONGC TO BUILD HELIUM RECOVERY PLANT IN TAMIL NADUPG ELECTROPLAST AND PAX INDIA PARTNER FOR POS DEVICE MANUFACTURINGEngineers India Ltd. and ONGC Energy Center have inked a deal for the construction of a helium recovery demonstration plant in Tamil Nadu. The project, which will cost Rs 39.42 crore including goods and services tax, intends to extract 99.995% pure grade-A helium from natural gas. With uses in cryogenics, semiconductor production, fiber optics, and space exploration, helium is an essential resource.PG Electroplast (PGEL) gained 5.35% to 569.55 after completing a definitive agreement with PAX India, an entity of PAX Global Technology, to manufacture Point-of-Sale (POS) devices in India. Production of PAX-branded POS devices is expected to start before the end of the year at existing PGEL sites, marking PGEL's entrance into the payments and fintech hardware segment. This partnership extends PGEL's reach from consumer electronics into fast-growth digital infrastructure solutions. Developing an indigenous capability in helium recovery is of strategic importance to India's capability development and energy security. In terms of capacity, the plant will process 750 Nm³/hr of natural gas and operate at 110 per cent of design capacity. The project is expected to be finished in eighteen months. The program advances India's long-term energy and technological security while fortifying the center's vision of "Atmanirbhar Bharat" (Self-reliant India). With the goal of completing a first-of-its-kind initiative in India, the partnership will integrate state-of-the-art research with real-world industrial application.The ONGC Energy Centre Trust (OECT) is a research and development organization that is the Research and Development wing of the Oil and Natural Gas Corporation Limited (ONGC). Established in 2005, OECT concentrates on clean, cheap and viable energy solutions for India's energy sector. The main goals of OECT is to contribute to making energy availability in India and to achieve self-reliance in critical resources such as the present project of developing indigenous technology for extracting Grade-A Helium from natural gas. It is OECT's ambition to be a "work bench" and it engages in collaboration by also allied strategic projects to inform India's energy security. "We are proud to partner with PAX a global leader in POS Devices, to bring advanced digital payment solutions to India under the Make in India initiative. With this partnership, PGEL is now one of very few companies in India to manufacture POS Devices, diversifying our overall portfolio of offering, and allowing us to further execute on our strategy to scale EMS in high-growth technology categories," said Vikas Gupta, Managing Director of Operations at PG Electroplast.Echoing that sentiment, Sanjeev Sandhu, CEO of PAX India remarked, "India is one of the fastest-growing digital payments market in the world, and we are dedicated to supporting it with world-class, locally manufactured POS solutions. Partnering with PG Electroplast significantly strengthens our presence in India, as we are able to combine the technology leadership of PAX and the manufacturing capability of PGEL, while giving our Indian customers the benefits of improved reliability and scalability through local manufacturing."PG Electroplast is a leading electronic manufacturing services (EMS) and contract manufacturing company for many of the leading consumer durable and electronics brands in India, with excellent OEM and ODM capability across washing machines, air conditioners, LED TVs and more.
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