Business

Ahmedabad : APSEZ has been recognized by CDP for its exceptional efforts in tackling climate   change and implementing best practices across its supply chain through a robust engagement program. The award was presented at the &Climate Action in India: Role of Businesses & Supply Chain’ ceremony, co-hosted by the Federation of Indian Chambers of Commerce & Industry (FICCI) in New Delhi CDP has assigned APSEZ a leadership band “A- “in both climate change and supplier engagement. The company received the…

Chenab Valley Power Project Private Limited (CVPPPL), a Joint Venture of NHPC LTD (51%) and JKSPDC (49%) has signed an Agreement with Power Finance Corporation Limited, (PFC) a Maharatna Central Public Sector Enterprise and leading NBFC under the Ministry of Power, for Term Loan of ₹1869.265 Crore (Rupees One Thousand Eight Hundred Sixty Nine Crore Twenty Six Lakh Fifty Thousand only). With this agreement, the Financial Closure for Kiru HEP for Rs. 3738.53 crore has been achieved. As per the…

Acquisition adds 14 MTPA capacity, total now 89 MTPA Ahmedabad : Ambuja Cement, the cement and building material company of Adani Cement and part of the diversified Adani Group, today announced the signing of a binding agreement for the acquisition of Penna Cement Industries Ltd (PCIL) at an enterprise value of Rs. 10,422 crore. Ambuja will acquire 100% shares of PCIL from its existing promoter group, Mr. P. Pratap Reddy and family. The acquisition will be fully funded through internal…

Bharat Heavy Electricals Ltd (BHEL) announced on Wednesday that it has secured a Rs 3,500 crore order from Adani Power Limited for setting up a 1,600 MW thermal power plant (TPP) in Raipur, Chhattisgarh. “Bharat Heavy Electricals Limited (BHEL) has received an order from Adani Power Ltd (APL) for setting up a 2×800 MW TPP in Raipur, Chhattisgarh,” the public sector giant stated in a regulatory filing. “The order involves the supply of equipment including the boiler, turbine generator, and…

Gurugram : REC Power Development and Consultancy Limited (RECPDCL), a wholly owned subsidiary of REC Limited, handed over two project specific SPVs (Special Purpose Vehicles) on 30th May 2024, namely, Khavda IV-E2 Power Transmission Limited and NERES XVI Power Transmission Limited formed for the implementation of Inter-State Transmission Schemes of Ministry of Power for “Transmission System for Evacuation of Power from potential renewable energy zone in Khavda area of Gujarat under Phase- IV(7 GW): Part E2” and “North Eastern Region Expansion Scheme-XVI (NERES-XVI)” respectively’. M/s Power Grid…

BluSmart plans to raise $300 million and expand its EV fleet to 25,000 cars within three years. The company will launch in Dubai with 100 Audi EVs, targeting premium customers and aiming to double its annual revenue to $110 million by 2025. In the fast-growing ride-hailing market, electric cab operator BluSmart is seeking to raise more than $300 million over three years to add thousands of cars to its fleet, reported Bloomberg. BluSmart’s co-founder, Punit Goyal, said in an interview…

New Delhi – Bharat Heavy Electricals Limited (BHEL) has entered into a Technology Transfer Agreement (TTA) with the Bhabha Atomic Research Centre (BARC) for 50 kW alkaline electrolyser systems for hydrogen production. The well-proven technology offered by BARC is indigenously developed and has a high local material content. The agreement was signed in the presence of Jai Prakash Srivastava, Director (Engineering, Research & Development) at BHEL, by K. Ravishankar, Executive Director (Corporate Technology Management and Corp R&D) at BHEL, and…

Gurugram : REC Limited, a Maharatna CPSE under the Ministry of Power and a leading NBFC, has been honored with the ‘Sustainability Champion – Editor’s Choice Award’ at the ‘Outlook Planet Sustainability Summit & Awards 2024’. The Award ceremony was organised by Outlook Group, in collaboration with IIT Goa. Smt. Saraswathi, Senior General Manager, REC’s Mumbai Office, received the award at an event held in Goa. This award recognizes REC’s commitment to sustainability initiatives and its efforts in driving progress towards…

New Delhi : Housing and Urban Development Corporation Ltd. (HUDCO), Navratna PSU under the aegis of Ministry of Housing and Urban Affairs registered highest ever net profits at Rs. 2116.74 cr for FY2324. The company’s ‘disbursals increased by around 112 % which stood at Rs. 17987 cr for the year, while loan sanctions stood at Rs. 82387 cr. Housing and Urban Development Corporation Ltd. (HUDCO) having ‘Navratna’ Status and incorporated as a fully owned Government Company under the Companies Act,…

Vijaipur (Madhya Pradesh) : Marking a major step towards foraying into new and alternate energy and inline with the National Green Hydrogen Mission, GAIL (India) Limited has installed its first Green Hydrogen Plant at GAIL Vijaipur in Madhya Pradesh, which was inaugurated by Secretary, Ministry of Petroleum & Natural Gas, Pankaj Jain, in an event organized today, wherein GAIL Chairman and Managing Director Sandeep Gupta, Director (Projects) Deepak Gupta, Director (Human Resources) Ayush Gupta and other Senior Officials were also…