Nayara Energy, a new-age integrated downstream energy company, signed a tripartite memorandum of understanding (MoU) with the Foundation for Innovation & Technology Transfer (FITT), IIT-Delhi, and Gexcon to accelerate development and implementation of process safety and risk management standards.
The MoU is envisaged to enable Nayara Energy to “advance its operational excellence journey and strengthen process safety coherent with global standards”.
The company is collaborating with IIT-Delhi and Gexcon to foster “high-performance safety standards and effective mitigation systems” across projects at its Vadinar refinery.
A noted scientist, Dr J P Gupta called for an urgent need for India to develop a Centre of Excellence (CoE) to promote education, research and development in process safety in sync with several global institutes.
He said the proposed CoE would be the “first-of-its-kind” in India that would be involved in training, higher education, research, developing innovative solutions and consultancy work in process safety.
Speaking on the occasion, B Anand, CEO of Nayara Energy, 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 Gexcon to 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.”