Vedanta signs concession agreement for redevelopment of Mormugao Port
Vedanta Limited, India’s only diversified natural resources company signed the Concession Agreement for redevelopment of Berth No.8, 9 and Barge Berths at Port of Mormugao, Goa. The company had received the ‘Letter of Award’ for the project on April 15th this year on a Design, Build, Finance, Operate and Transfer (DBFOT) Basis. The agreement was signed by Vedanta’s Iron Ore business CEO, Kishore Kumar, also the Director of the newly formed Special Purpose Vehicle, Goa Sea Port Pvt. Ltd. which is a subsidiary of Sterlite Ports and I. Jeyakumar, Chairman – Mormugao Port Trust in the presence of Road, Transport, Highways and Shipping Minister- Nitin Gadkari and Chief Minister of Goa, Laxmikant Paresekar. Read More
RBI approves proposal for restructuring of outstanding FCCBs of Websol Energy System
Websol Energy System Ltd has informed BSE that the company had applied to RBI for Restructuring of outstanding FCCBs.The same has been approved by RBI subject to certain conditions. The Restructuring is as per the terms approved by the shareholders of the company in the EGM held on May 26, 2016. Read More
Larsen & Toubro bags order from Vietnam Border Guard for high speed patrol vessels
Larsen & Toubro (L&T) has signed the principle contract with Vietnam Border Guard valued at USD 99.7 million for design and construction of high speed patrol vessels in India as well as for transfer of design and technology along with supply of equipment and material kits for construction of follow-on vessels at a Vietnam shipyard. The high-speed patrol vessels are purpose- built for controlling and protecting sea security and sovereignty, detecting illegal activities such as smuggling, and undertaking search and rescue missions. Constructed of Aluminium alloy, the vessels are about 35 metres long and can clock a speed of 35 knots with a state-of-the-art navigation and surveillance equipment and self-defence capabilities on board. Read More
ABB to divest cable business to NKT Cables
NKT Cables is acquiring ABB’s global high-voltage cable system business with a total enterprise value of 836 million euros (US$934 million). High voltage cables are key components insustainable energy networks, used for transmitting large amounts of electricity over long distances. The business is part of ABB’s Power Grids division, which is currently undergoing a strategic review. NKT Cables designs, manufactures and supplies power cables for low-, medium- and high-voltage solutions mainly in the Alternating Current (AC)-area. It has major production facilities in Europe and China as well as sales offices around the world, and employs around 3,200 people. In 2015, revenue was 1.2 billion euros.
IRB Infrastructure bags six laning project from NHAI
IRB Infrastructure Developers Ltd (IRB), India's leading and one of the largest BOT road developers in India, announced that it has emerged as a preferred bidder for the project of Six Laning from Kishangarh - Udaipur - Ahmedabad Section of around 125 Kms in the State of Rajasthan. The company said section of NH-79 will be from km 90.00, near Gulabpura to km 214.870 at the end of Chitorgarh bypass. Read More
Larsen & Toubro wins orders valued at Rs.1,726 crore
Larsen & Toubro (L&T) has won orders worth Rs.1,726 crore across various business segments.
Heavy Civil Infrastructure Business
The business has secured a prestigious order worth Rs.687 crore in the defence sector.
Smart World & Communication Business
The business has secured an order worth Rs.421 crore from Bharat Sanchar Nigam Limited (BSNL) for engineering, supply, installation, commissioning, operation and maintenance of Wi-Fi hotspots and Wi-Fi offload systems on turnkey basis for the Southern & Western States of India.
The scope of work includes installation of Wi-Fi Access Points (AP), provisioning of bandwidth connectivity to the Access Points (AP) and integration with the existing network. Read More
Lloyd Electric wins $18 m contract from GE Transportation
GE Transportation has signed a US $18 M contract with Lloyd Electric & Engineering to supply custom designed air-conditioning units for the Indian Railways Marhowra Locomotive project. This project is a significant win for Lloyd Electric & Engineering and bulids on existing business between GE Transportation and Noske-Kaeser Rail & Vehicle New Zealand. Read More
Petron Engineering gets Letter of Intents worth Rs. 50 crore from Shree Cement
Petron Engineering Construction Ltd has received Letter of Intents (LOIs) from Shree Cement for Civil Work at their Cement Plants at Aurangabad, Bihar and at Gulbarga, Karnataka for a total Contract Value of Rs 50 crore (apprx). The scope of work is civil work, Reinforcement & MS steel work for Plant Building & Silo and Miscellaneous work at Aurangabad, Bihar and Plant Building & Silos i.e. Stacker and Re-claimer, Crusher, VRM - II and Miscellaneous work at Gulbarga, Karnataka. Read More