Ducon Establishes a New Subsidiary in USA to Sell Various Combustion Products

THANE, India–()–Ducon Infratechnologies Limited (BSE:534674, NSE:DUCON), a growing
diversified technology Company, today announced that it has set up a
wholly owned subsidiary named Ducon Combustion Equipment Inc. (DCE) in
New York, USA to sell diversified combustion and power products. The
products shall include: steam & power turbines, Heat Recovery Steam
generators, and cogeneration plants using both gas and biomass fuels.

“The world-wide market for turbines and cogeneration plants is expected
to reach over $50 billion by 2022. This growth will be driven by the
increasing replacement of coal-fired power plants with natural gas and
biomass plants and the rising efficiency and durability of turbines due
to improved technological advances in the industry,” said Mr. Aron
Govil, Chairman of the Company.

He further added, “The rationale behind setting up the subsidiary in
North America is our unique ability to source reliable pre-owned &
surplus equipment in this geography that balance cost, operational
performance and overall risk at lower capital cost which will provide
our worldwide clients with a better total project ROI.”

DCE shall provide best power generation & heat recovery solutions to the
public and private sector clients worldwide by sourcing surplus new,
used and refurbished equipment from dealers and end-users across North
America. DCE shall work with a large network of power generation
equipment manufacturers, distributors and dealers to find the best
equipment that fits the requirements and budget of each project globally.

Update on Scheme of Merger Arrangement

In regard to the pending merger, the final order approving the
scheme of arrangement is awaited from National Company Law Tribunal
(NCLT). The company anticipates, barring any unforeseen circumstances,
that it shall receive this order within the next couple of months and
hence complete the entire process before the end of this financial year.

About Ducon Infratechnologies Limited

Ducon Infratechnologies Limited (BSE: 534674, NSE: DUCON) is an emerging
technology company based in India for providing solutions in the
Industrial, infrastructure & digital space to multiple business segments
across varied industries. In the digital space, Ducon offers
distribution services to its clients related to marketing initiatives,
distribution, volume procurement and end to end technical support. On
the infrastructure sector, it intends to offer complete solutions
including execution of turnkey projects in rural electrification,
environmental control & material handling areas across India and
neighboring regions. The Company is led by a team of young and dynamic
professionals with technical, marketing and sales know-how and has an
objective to become a leading solution provider in the digital and
infrastructure business sectors.

Disclaimer: Certain statements in this document that are not
historical facts are forward looking statements. Such forward-looking
statements are subject to certain risks and uncertainties like
government actions, local, political or economic developments,
technological risks, and many other factors. that could cause actual
results to differ materially from those contemplated by the relevant
forward-looking statements. The Company will not be in any way
responsible for any action taken based on such statements and undertakes
no obligation to publicly update these forward-looking statements to
reflect subsequent events or circumstances.