Business

Delhi : REC Limited, a Maharatna CPSU under Ministry of Power and a leading NBFC, has signed MoU with Govt of Rajasthan, Department of Finance during the “Rising Rajasthan Investors meet” today. As per MoU, REC will provide Rs. 50,000 Crore annually (increase from Rs. 20,000 Crore) to finance projects across power and non-power infrastructure for a period of six years upto 2030 i.e. total value of MoU is Rs. 3.00 lac cr.   The MoU was signed in the…

New Delhi– In line with the ongoing ‘Swachhta Hi Seva’ fortnight, PFC organized a ‘Shramdaan’ activity today, around its corporate office bringing together over 500 enthusiastic participants from the Ministry of Power, Power PSUs, and PFC. The ‘Shramdaan’  was led by Shri Srikant Nagulapalli, Additional Secretary, MoP; Smt. Parminder Chopra, CMD, PFC; Dr D. Sai Baba, Joint Secretary, MoP; Shri Piyush Singh, Joint Secretary, MoP; Shri Shashank Misra, Joint Secretary, MoP; and Shri Mahabir Prasad, Joint Secretary & FA, MoP. Shri…

Ahmedabad : Three Adani portfolio companies — Adani Enterprises Ltd (AEL) (through its subsidiary Adani New Industries Ltd), Adani Ports and Special Economic Zone Ltd (APSEZ) and Ambuja Cements Ltd — have joined the World Economic Forum’s ‘Transitioning Industrial Clusters’ initiative, forming the Adani Mundra Cluster. This initiative aims to enhance collaboration and align the vision of co-located companies to drive economic growth, generate employment and advance decarbonisation by 2050. Since its inception in 1993, the port business at Mundra has…

• In the last five years, the number of heart-related treatment procedures at U.N. Mehta Hospital increased from 13,615 in 2020 to 29,510 in 2023. Similarly, the number of heart surgeries rose from 3267 in 2020 to 7,438 in 2023.• Outpatient visits at the same institute increased from 1,57,747 in 2020 to 3,35,124 in 2023, while by August 2024, 2,41,033 patients had already been treated. Gandhinagar : In recent years, Gujarat has emerged as a premier destination for advanced cardiac…

Gurgaon : REC Limited has successfully raised CBDT notified Zero Coupon Bonds (ZCB) of Rs 5,000 crore at the effective yield of 6.25 % p.a.   REC bonds received tremendous response from the market as the bond was oversubscribed 7 times over the issue size of Rs. 5,000 Crore . The bond issuance was rated AAA by all the four Credit Rating Agencies (CARE, CRISIL, ICAR, IRRPL). ZCB are issued at deep discount and are redeemed at face value. Since these…

The 5-year benchmark has a semi-annual coupon rate of 4.75% per annum and matures on 27 September 2029  Gurugram : REC Limited announced that it has successfully raised USD 500 million 5-year Green bonds issued off its USD 10 billion Global Medium Term Programme. The bond proceeds will be used to finance Eligible Green Projects, in accordance with REC’s Green Finance Framework as per Green Bond principles of Climate Bond Initiative, London and RBI’s ECB Guidelines, with a second-party opinion from Sustainable Fitch.  The 5-year benchmark has a…

Gorakhpur : Chief Minister Yogi Adityanath is set to inaugurate PepsiCo’s GIDA (Gorakhpur Industrial Development Authority) unit, operated by M/s Varun Beverages, PepsiCo’s largest franchisee and manufacturer, on Sunday. This facility marks a significant milestone for the global soft drink brand. M/s Varun Beverages has invested Rs 1,071 crore to establish PepsiCo’s unit in Sector 27 of GIDA. Chief Minister Yogi Adityanath performed the Bhoomi Pujan and laid the foundation stone on April 8, 2023. Remarkably, construction was completed within…

NHPC and APGENCO have signed a Joint Venture Agreement on 27th September 2024 for implementation of Pumped Storage Hydro Power Projects and other Renewable Energy Projects in Andhra Pradesh in phases. In first phase two projects namely Yaganti PSP (1000 MW) & Rajupalem PSP (800 MW) are considered for joint implementation. Subsequently, other projects shall be identified in next phase. The Agreement was exchanged in the august presence of N. Chandrababu Naidu, Chief Minister of Andhra Pradesh between R.K. Chaudhary, Chairman…

Jaipur : Under the leadership of Chief Minister Shri Bhajan Lal Sharma, a two-day event will be held in New Delhi on September 30 to attract domestic and foreign investors, corporations, and national and international organizations for the ‘Rising Rajasthan’ Global Investment Summit 2024. The Investor Roadshow and outreach initiative aims to inform stakeholders about investment opportunities in Rajasthan. The event will also feature participation from Industries and Commerce Minister Colonel Rajyavardhan Rathore, Chief Secretary Shri Sudhansh Pant, Principal Secretary…

Greater Noida : Visitors at the UP International Trade Show are showing a clear preference for organic products, seeking them out in almost every pavilion. The excitement surrounding UP’s One District, One Product (ODOP) initiative is also unmistakable, drawing large crowds to the ODOP pavilion. Products from districts like Aligarh, Meerut, Banda, Siddharthnagar, and Gorakhpur are particularly popular among attendees. Anjana, a visitor from Bulandshahr, praised the high quality and purity of ODOP products, noting that there’s no adulteration. She…