New Delhi: In its first deal since being acquired by Vedanta Resources, Cairn India has acquired a 60 per cent stake from PetroSA in an oil and gas exploration block on the west coast of South Africa. With this, Cairn India’s presence abroad would now be extended beyond Sri Lanka.
The block comprises an existing gas field, discovered in 1987. Cairn India would conduct seismic surveys and carry out initial exploration drilling. The time taken to begin production would depend on the nature and volume of hydrocarbons found.
“This is an important step for the company’s growth beyond the Indian sub-continent. We see an attractive opportunity to leverage our capabilities in a rapidly-emerging area and aspire to build a wider business in the region,” said P Elango, Cairn India director (strategy).
Elango is scheduled to take over as officiating chief executive from September 1. He would replace Rahul Dhir, who had resigned a week earlier.
Cairn India would be the operator in the block, while PetroSA, owned by the government of that country, would hold the remaining interest, said a company statement. The closure of the transaction is subject to regulatory approvals from the South African government.
Cairn India would hold the stake through a wholly-owned South African subsidiary. The company has made no payment for the deal. However, in the initial phase, it would carry PetroSA’s share of investment towards the work programme. The consideration for the stake acquired in the block would be through investment linked to the work programme for developing the asset. A company statement said it had signed a farm-in agreement for exploration in offshore Block 1. The block would be an anchor exploration asset in South Africa, and would augment Cairn India’s existing portfolio, the company said.
Block 1 covers 19,922 sq km and currently, initial stages of exploration are underway there. The block has an existing gas discovery, as well as identified oil and gas leads and prospects. It is located in the Orange Basin, along the north-western maritime border between South Africa and Namibia.
"Believer - Humanitarian - Habit of Success" Sukumar Balakrishnan is the Founder of JB GROUP, a 500 Crore National Organization with over 150 Direct & 1200 indirect professionals operating from 5 major cities in India. Jayalakshmi Balakrishnan Group, a multi-faceted group venturing into, E- Commerce and Import-Export (INNOKAIZ), Retail and Wholesale (JB MART), Food and Beverages (KRISHNA FOODS ), Real Estate (Constructions on sites, Interior scaping, Facility Management)
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Friday, August 17, 2012
Abhijeet Group in $7-bn coal deal with US firm
New Delhi: The Nagpur-based Abhijeet Group on Thursday signed a $7-billion (Rs 39,069 crore) deal with US-based FJS Energy LLC for coal supply to fire its steel and power units in India. The New Jersey-based company said it would supply coal from its affiliates, FJSE Marshall Inc and FJSE River Coal, for 25 years.
“The deal would benefit both companies optimally,” said M P Narayanan, chairman of the FJS Energy board. “Abhijeet Group is a major client for coal producers and suppliers in the US.”
Abhijeet, led by Manoj Jayaswal, has significant presence in the core sector areas of power, roads, mining, engineering procurement and construction, ferro alloys, steel and cement. It has a power generation capacity of 2,671 Mw — the 271-Mw Mihan project in Nagpur, the 1,080-Mw Chandwa project in Jhark-hand and the 1,320-Mw Banka project in Bihar. It is also setting up 10-million-tonne per annum (mtpa) steel-making capacity over three states — Jharkhand, West Bengal and Maharashtra.
The Group’s Executive Director, Anand Kumar, said, “FJS Energy is a reliable and high-quality coal producer in the US. The import will help us meet the increasing demand for energy and steel here.”
FJS Energy was founded in 2011 by energy sector professionals from India and North America as a global resource and energy enterprise. The company aims to secure five per cent market share in the Indian coal import business.
“The deal would benefit both companies optimally,” said M P Narayanan, chairman of the FJS Energy board. “Abhijeet Group is a major client for coal producers and suppliers in the US.”
Abhijeet, led by Manoj Jayaswal, has significant presence in the core sector areas of power, roads, mining, engineering procurement and construction, ferro alloys, steel and cement. It has a power generation capacity of 2,671 Mw — the 271-Mw Mihan project in Nagpur, the 1,080-Mw Chandwa project in Jhark-hand and the 1,320-Mw Banka project in Bihar. It is also setting up 10-million-tonne per annum (mtpa) steel-making capacity over three states — Jharkhand, West Bengal and Maharashtra.
The Group’s Executive Director, Anand Kumar, said, “FJS Energy is a reliable and high-quality coal producer in the US. The import will help us meet the increasing demand for energy and steel here.”
FJS Energy was founded in 2011 by energy sector professionals from India and North America as a global resource and energy enterprise. The company aims to secure five per cent market share in the Indian coal import business.
India's grassroot products find market on foreign shores
Ahmedabad: Unique, innovative products and practices by grassroot innovators of India are seeing a surge demand in foreign countries. The Honey Bee Network (HBN) and National Innovation Foundation (NIF), which scout and document innovations from remote areas in the country, have received enquiry from 40 countries for 27 products. Out of these, the innovators have sold nine innovations to individuals or companies in many countries.
Mitticool, a clay refrigerator that works without electricity, has attracted companies in the US and Spain. The green innovator, Mansukh Prajapati, has already sold several units of the refrigerator to companies in these countries.
The refrigerator is among eight other products, which have been sold to countries like UK, Germany, Sri Lanka, Philippines, Pakistan, South Africa and several other African countries.
"Biomass gassifier, food processing machine, onion transplanter, milking machine, coconut tree climber, sanitary napkin machine, eczema cream, sugar cane bud chipper are the products, which have been sold to many countries," said Anil Gupta, founder of HBN and a professor at the Indian Institute of Management Ahmedabad.
Other products like Ajooba tubelight, clay cooker, gas iron, hydro electric turbine, natural water cooler, pole climber and solar mosquito destroyer are among those that have invited queries and are under various stages of discussion.
"Our focus is not just to sell products or practices to these countries but also to learn from them. For instance, HBN's newsletter has published innovative practices from many African countries. Our focus is not only to give them but also learn from them," said Gupta.
Mitticool, a clay refrigerator that works without electricity, has attracted companies in the US and Spain. The green innovator, Mansukh Prajapati, has already sold several units of the refrigerator to companies in these countries.
The refrigerator is among eight other products, which have been sold to countries like UK, Germany, Sri Lanka, Philippines, Pakistan, South Africa and several other African countries.
"Biomass gassifier, food processing machine, onion transplanter, milking machine, coconut tree climber, sanitary napkin machine, eczema cream, sugar cane bud chipper are the products, which have been sold to many countries," said Anil Gupta, founder of HBN and a professor at the Indian Institute of Management Ahmedabad.
Other products like Ajooba tubelight, clay cooker, gas iron, hydro electric turbine, natural water cooler, pole climber and solar mosquito destroyer are among those that have invited queries and are under various stages of discussion.
"Our focus is not just to sell products or practices to these countries but also to learn from them. For instance, HBN's newsletter has published innovative practices from many African countries. Our focus is not only to give them but also learn from them," said Gupta.
Thursday, August 16, 2012
Volvo-Eicher JV to drive in new-generation trucks
Mumbai: Volvo, the world's second-largest truck maker, will soon renew its global rivalry with top player Daimler on the Indian roads through its joint venture with Eicher Motors.
Even as Daimler India gears up to launch its BharatBenz range of trucks within a few months, the Volvo-Eicher venture is readying a whole new range of trucks right from 5 tonne to 49 tonne and above with new platforms, engines and cabins.
"We want to make a big breakthrough in the heavy duty trucks," Siddhartha Lal, MD of Eicher Motors, said. "We have new engines from Volvo's global platform and we will have full new modern truck product range powered by these engines," he added.
While Lal declined to share the specifics, industry insiders said the new trucks will be based on Volvo's UD platform (from Nissan Diesel) and will be priced at a 10% premium to the existing range.
The new range is expected to help VE Commercial Vehicles, the joint venture between Volvo and Eicher, expand its presence in medium and heavy truck segments (25-49 tonne), where the company has minimal share. VECV showcased its entire range-which will take 2-3 years to hit the road-to dealers and suppliers in May. Industry sources say they will match BharatBenz trucks in quality and cost parameters.
One of the suppliers working on the project says the new Volvo range will offer stiff competition to Tata Motors Prima and Ultra trucks as well as Ashok Leyland's U Truck. Industry experts say Eicher's attempt to enter the heavy-duty truck space in 2005-06 did not get a good response from the market and that's how the tie-up with Volvo came about four years ago. "With Volvo's global platform and engines, VECV could now have a compelling product proposition in the core medium and heavy duty truck market, which will bridge the critical gap in the portfolio and could make the company a serious player," V G Ramakrishnan, senior director, Frost & Sullivan said.
VECV has already invested 700 crore in the business and it has lined up another 1,000 crore for the next few years, which will go into R&D, engine manufacturing facility, bus body building plant and new paint shop. Lal, the company MD, said VECV targets 15% share in the Indian heavy-duty truck market by 2015, up from 3.4% now. It has 11% share in the overall truck market, thanks to 31% share in the light duty and medium duty segment of 5-12 tonne.
Even as Daimler India gears up to launch its BharatBenz range of trucks within a few months, the Volvo-Eicher venture is readying a whole new range of trucks right from 5 tonne to 49 tonne and above with new platforms, engines and cabins.
"We want to make a big breakthrough in the heavy duty trucks," Siddhartha Lal, MD of Eicher Motors, said. "We have new engines from Volvo's global platform and we will have full new modern truck product range powered by these engines," he added.
While Lal declined to share the specifics, industry insiders said the new trucks will be based on Volvo's UD platform (from Nissan Diesel) and will be priced at a 10% premium to the existing range.
The new range is expected to help VE Commercial Vehicles, the joint venture between Volvo and Eicher, expand its presence in medium and heavy truck segments (25-49 tonne), where the company has minimal share. VECV showcased its entire range-which will take 2-3 years to hit the road-to dealers and suppliers in May. Industry sources say they will match BharatBenz trucks in quality and cost parameters.
One of the suppliers working on the project says the new Volvo range will offer stiff competition to Tata Motors Prima and Ultra trucks as well as Ashok Leyland's U Truck. Industry experts say Eicher's attempt to enter the heavy-duty truck space in 2005-06 did not get a good response from the market and that's how the tie-up with Volvo came about four years ago. "With Volvo's global platform and engines, VECV could now have a compelling product proposition in the core medium and heavy duty truck market, which will bridge the critical gap in the portfolio and could make the company a serious player," V G Ramakrishnan, senior director, Frost & Sullivan said.
VECV has already invested 700 crore in the business and it has lined up another 1,000 crore for the next few years, which will go into R&D, engine manufacturing facility, bus body building plant and new paint shop. Lal, the company MD, said VECV targets 15% share in the Indian heavy-duty truck market by 2015, up from 3.4% now. It has 11% share in the overall truck market, thanks to 31% share in the light duty and medium duty segment of 5-12 tonne.
Indirect tax collections up 23% in July
New Delhi: Indirect tax collections rose 23 per cent to Rs 39,787 crore in July, against Rs 32,289 crore in the corresponding month last year. For this financial year, the government has set an indirect tax target of Rs 5.05 lakh crore, 27 per cent more than the mop-up in 2011-12.
A meagre eight per cent growth in customs collections, owing to contraction in imports, pulled down the overall indirect tax mop-up. Collections from levy of customs duty stood at Rs 12,486 crore in July, against Rs 11,540 crore in the year-ago period.
Excise and service tax collections, however, recorded 27.6 per cent and 37.4 per cent growth, respectively, owing to a two-percentage point rise in both excise and service tax in the Budget. The growth in these collections was also aided by the introduction of a negative list for services, which helped widen the tax base. Excise duty collections in July stood at Rs 15,715 crore, against Rs 12,316 crore in the year-ago period. This was despite official data showing industrial production contracted 0.1 per cent in the quarter ended June. Service tax collections rose to Rs 11,586 crore, compared with Rs 8,433 crore in the corresponding month last year.
Source: Venture Intelligence
For the April-July period, indirect tax collections rose 14.5 per cent to Rs 1.25 lakh crore, against Rs 1.09 lakh crore in the year-ago period. While service tax collections rose about 40 per cent to Rs 30,917 crore in this period from Rs 21,100 crore in the year-ago period, excise duty collections rose 18.4 per cent to Rs 42,934 crore. Customs duty collections increased just 0.8 per cent to Rs 51,173 crore.
A meagre eight per cent growth in customs collections, owing to contraction in imports, pulled down the overall indirect tax mop-up. Collections from levy of customs duty stood at Rs 12,486 crore in July, against Rs 11,540 crore in the year-ago period.
Excise and service tax collections, however, recorded 27.6 per cent and 37.4 per cent growth, respectively, owing to a two-percentage point rise in both excise and service tax in the Budget. The growth in these collections was also aided by the introduction of a negative list for services, which helped widen the tax base. Excise duty collections in July stood at Rs 15,715 crore, against Rs 12,316 crore in the year-ago period. This was despite official data showing industrial production contracted 0.1 per cent in the quarter ended June. Service tax collections rose to Rs 11,586 crore, compared with Rs 8,433 crore in the corresponding month last year.
Source: Venture Intelligence
For the April-July period, indirect tax collections rose 14.5 per cent to Rs 1.25 lakh crore, against Rs 1.09 lakh crore in the year-ago period. While service tax collections rose about 40 per cent to Rs 30,917 crore in this period from Rs 21,100 crore in the year-ago period, excise duty collections rose 18.4 per cent to Rs 42,934 crore. Customs duty collections increased just 0.8 per cent to Rs 51,173 crore.
Green nod for 2,040 projects in last 3 years, says Govt
New Delhi: In the past three years, projects in Gujarat received the highest number environmental clearances, followed by Andhra Pradesh and Maharashtra.
Of the total 2,040 projects cleared in the past three years, 273 are in Gujarat, 230 in Andhra Pradesh, 200 in Maharashtra and 156 in Orissa, according to the Ministry of Environment and Forests (MoEF).
Interestingly, among the smaller States, projects in Chhatisgarh received the maximum number of green nods at 115 and Jharkhand at 112, both mineral-rich areas.
As on August 13, 2012, a total of 593 project proposals were awaiting environment and forest clearance, the Environment Minister, Jayanthi Natarjan, said in a written reply to Lok Sabha this week.
The Ministry has been under pressure to fast-track green clearances to send the right signals to attract investments. The Prime Minister’s Office had recently held a review meeting on coal projects being held up due to green clearances. After recent outages, the Ministry also came under fire for “stalling” of power projects, which it refuted as “factually incorrect’.
To fast-track clearances, the MoEF has now decentralised work, assigning some of the work to States and Union territories. Regular meetings of the expert appraisal panel, updating of project status on the Ministry’s Web site and uploading of sector-specific manuals are some of the other steps, the Minister said.
According to the Environment Impact Assessment Notification, 2006, there is a time of limit of 105 days from the date of receipt of complete information for grant of environmental clearance.
Of the total 2,040 projects cleared in the past three years, 273 are in Gujarat, 230 in Andhra Pradesh, 200 in Maharashtra and 156 in Orissa, according to the Ministry of Environment and Forests (MoEF).
Interestingly, among the smaller States, projects in Chhatisgarh received the maximum number of green nods at 115 and Jharkhand at 112, both mineral-rich areas.
As on August 13, 2012, a total of 593 project proposals were awaiting environment and forest clearance, the Environment Minister, Jayanthi Natarjan, said in a written reply to Lok Sabha this week.
The Ministry has been under pressure to fast-track green clearances to send the right signals to attract investments. The Prime Minister’s Office had recently held a review meeting on coal projects being held up due to green clearances. After recent outages, the Ministry also came under fire for “stalling” of power projects, which it refuted as “factually incorrect’.
To fast-track clearances, the MoEF has now decentralised work, assigning some of the work to States and Union territories. Regular meetings of the expert appraisal panel, updating of project status on the Ministry’s Web site and uploading of sector-specific manuals are some of the other steps, the Minister said.
According to the Environment Impact Assessment Notification, 2006, there is a time of limit of 105 days from the date of receipt of complete information for grant of environmental clearance.
Green nod for 2,040 projects in last 3 years, says Govt
New Delhi: In the past three years, projects in Gujarat received the highest number environmental clearances, followed by Andhra Pradesh and Maharashtra.
Of the total 2,040 projects cleared in the past three years, 273 are in Gujarat, 230 in Andhra Pradesh, 200 in Maharashtra and 156 in Orissa, according to the Ministry of Environment and Forests (MoEF).
Interestingly, among the smaller States, projects in Chhatisgarh received the maximum number of green nods at 115 and Jharkhand at 112, both mineral-rich areas.
As on August 13, 2012, a total of 593 project proposals were awaiting environment and forest clearance, the Environment Minister, Jayanthi Natarjan, said in a written reply to Lok Sabha this week.
The Ministry has been under pressure to fast-track green clearances to send the right signals to attract investments. The Prime Minister’s Office had recently held a review meeting on coal projects being held up due to green clearances. After recent outages, the Ministry also came under fire for “stalling” of power projects, which it refuted as “factually incorrect’.
To fast-track clearances, the MoEF has now decentralised work, assigning some of the work to States and Union territories. Regular meetings of the expert appraisal panel, updating of project status on the Ministry’s Web site and uploading of sector-specific manuals are some of the other steps, the Minister said.
According to the Environment Impact Assessment Notification, 2006, there is a time of limit of 105 days from the date of receipt of complete information for grant of environmental clearance.
Of the total 2,040 projects cleared in the past three years, 273 are in Gujarat, 230 in Andhra Pradesh, 200 in Maharashtra and 156 in Orissa, according to the Ministry of Environment and Forests (MoEF).
Interestingly, among the smaller States, projects in Chhatisgarh received the maximum number of green nods at 115 and Jharkhand at 112, both mineral-rich areas.
As on August 13, 2012, a total of 593 project proposals were awaiting environment and forest clearance, the Environment Minister, Jayanthi Natarjan, said in a written reply to Lok Sabha this week.
The Ministry has been under pressure to fast-track green clearances to send the right signals to attract investments. The Prime Minister’s Office had recently held a review meeting on coal projects being held up due to green clearances. After recent outages, the Ministry also came under fire for “stalling” of power projects, which it refuted as “factually incorrect’.
To fast-track clearances, the MoEF has now decentralised work, assigning some of the work to States and Union territories. Regular meetings of the expert appraisal panel, updating of project status on the Ministry’s Web site and uploading of sector-specific manuals are some of the other steps, the Minister said.
According to the Environment Impact Assessment Notification, 2006, there is a time of limit of 105 days from the date of receipt of complete information for grant of environmental clearance.
Outbound deals push up PE, M&A values in July
New Delhi: An increase in outbound deals led to a jump in the total M&A and PE deal value in July 2012 to $2 billion, from $1.4 billion in the previous month.
Raja Lahiri, Partner, Transaction Advisory Services, Grant Thornton India, said this is a welcome surprise, given the overall economic head-winds.
The total number of deals in July, though, posted a slight decline to 75, compared with 83 deals in June.
Outbound value
The total value of outbound deals in July was $1.30 billion (17 deals), higher than the corresponding values of $0.85 billion (12 deals) and $0.14 billion (8 deals) during the same month in 2011 and 2010, respectively.
Inbound deals in July were worth $0.13 billion (8 deals) as compared with $1.50 billion (10 deals) and $1.15 billion (5 deals) during the corresponding month in 2011 and 2010, respectively
July witnessed increase in M&As — $1.9 billion, from 44 deals, compared with $0.7 billion/48 deals in June 2012. This was largely driven by outbound transactions such as the GMR-UFS deal ($0.6 billion), Grasim-Terrace Bay Pulp ($0.36 billion) and Crompton Greaves-ZIV Group ($0.19 billion), Lahiri said.
Though PE/VC activity was good in terms of number of deals ($166 million/31 deals), values declined over June ($762 million).
Average deal sizes have fallen following increased activity in the VC deal space.
PE activity
“PE/VC deal space continued to see activity in the e-commerce / Internet space and in renewable energy. Companies which have cash will drive M&A deal momentum going forward, since the time offers good deal opportunities in terms of valuation,” Lahiri said.
PE deal values amounted to $0.17 billion (31 deals) in July 2012, lower than the $0.74 billion (35 deals) and $0.76 billion (21 deals) garnered during the corresponding month in 2011 and 2010, respectively
Also, there were two IPOs listed in July, that raised $13.40 million from the public.
The total amount raised through IPOs during January-December 2011 was $1.20 billion, from 30 IPOs.
Raja Lahiri, Partner, Transaction Advisory Services, Grant Thornton India, said this is a welcome surprise, given the overall economic head-winds.
The total number of deals in July, though, posted a slight decline to 75, compared with 83 deals in June.
Outbound value
The total value of outbound deals in July was $1.30 billion (17 deals), higher than the corresponding values of $0.85 billion (12 deals) and $0.14 billion (8 deals) during the same month in 2011 and 2010, respectively.
Inbound deals in July were worth $0.13 billion (8 deals) as compared with $1.50 billion (10 deals) and $1.15 billion (5 deals) during the corresponding month in 2011 and 2010, respectively
July witnessed increase in M&As — $1.9 billion, from 44 deals, compared with $0.7 billion/48 deals in June 2012. This was largely driven by outbound transactions such as the GMR-UFS deal ($0.6 billion), Grasim-Terrace Bay Pulp ($0.36 billion) and Crompton Greaves-ZIV Group ($0.19 billion), Lahiri said.
Though PE/VC activity was good in terms of number of deals ($166 million/31 deals), values declined over June ($762 million).
Average deal sizes have fallen following increased activity in the VC deal space.
PE activity
“PE/VC deal space continued to see activity in the e-commerce / Internet space and in renewable energy. Companies which have cash will drive M&A deal momentum going forward, since the time offers good deal opportunities in terms of valuation,” Lahiri said.
PE deal values amounted to $0.17 billion (31 deals) in July 2012, lower than the $0.74 billion (35 deals) and $0.76 billion (21 deals) garnered during the corresponding month in 2011 and 2010, respectively
Also, there were two IPOs listed in July, that raised $13.40 million from the public.
The total amount raised through IPOs during January-December 2011 was $1.20 billion, from 30 IPOs.
Govt approves Mars Orbitter Mission
New Delhi: India plans to send a mission to the Red Planet, Mars. This will be a huge step for India in the area of science and technology, according to Dr Manmohan Singh, Prime Minister of India.
The Government of India has approved Mars Orbitter Mission to collect important scientific information including climate, geology, origin, evolution and sustainability of life on the planet. The mission was announced during a speech marking the 66th anniversary of India's independence.
India will be sixth country to launch a mission to Mars, after US, Russia, Europe, Japan and China. India will be the first Asian country to do so because the probes sent by China and Japan had to be abandoned en route.
The Mars Orbiter Mission is expected to be launched in November 2013 with a 25 kg scientific payload from Indian Space Research Organisation (ISRO), Sriharikota, Andhra Pradesh, by the Polar Satellite Launch Vehicle (PSLV). It will take around 300 days to reach Martian orbit. It will be placed in an orbit of 500 x 80,000 km around Mars.
The Government of India has approved Mars Orbitter Mission to collect important scientific information including climate, geology, origin, evolution and sustainability of life on the planet. The mission was announced during a speech marking the 66th anniversary of India's independence.
India will be sixth country to launch a mission to Mars, after US, Russia, Europe, Japan and China. India will be the first Asian country to do so because the probes sent by China and Japan had to be abandoned en route.
The Mars Orbiter Mission is expected to be launched in November 2013 with a 25 kg scientific payload from Indian Space Research Organisation (ISRO), Sriharikota, Andhra Pradesh, by the Polar Satellite Launch Vehicle (PSLV). It will take around 300 days to reach Martian orbit. It will be placed in an orbit of 500 x 80,000 km around Mars.
Tuesday, August 14, 2012
L&T secures orders worth over Rs 2,008 cr
Mumbai: L&T said that it has secured orders totalling over Rs 2,008 crore across business segments in the last 45 days.
In power transmission and distribution, it has secured orders worth Rs 607 crore.
Major orders include one from Chamundeshwari Electricity Supply Corporation Ltd for linking of feeders to rural areas to provide continuous supply to installations at Hassan, HN Pura and CR Patna Divisions.
Another order is for construction of 220kV &765 kV switchyards in Uttar Pradesh.
On the international front, it has secured an order for supply and installation of a 20/33 kV grid station in UAE.
L&T’s buildings & factories division has got orders worth Rs 674 crore, which includes a contract from the Airports Authority of India for the construction of a new integrated terminal building at Chandigarh Airport.
It has also secured an order for the construction of an IT campus in Hyderabad.
L&T’s construction division has secured a turnkey order worth Rs 155 crore from Greater Mohali Area Development Authority for the construction of roads, water supply, electrical services (street-lighting) and development of parks.
L&T has also bagged orders worth Rs 275 crore from the Kolkata Metropolitan Development Authority for design and construction of a four-lane flyover, rail overbridge and viaduct.
In addition, the company’s construction arm has got additional orders worth Rs 297 crore in various ongoing projects.
In power transmission and distribution, it has secured orders worth Rs 607 crore.
Major orders include one from Chamundeshwari Electricity Supply Corporation Ltd for linking of feeders to rural areas to provide continuous supply to installations at Hassan, HN Pura and CR Patna Divisions.
Another order is for construction of 220kV &765 kV switchyards in Uttar Pradesh.
On the international front, it has secured an order for supply and installation of a 20/33 kV grid station in UAE.
L&T’s buildings & factories division has got orders worth Rs 674 crore, which includes a contract from the Airports Authority of India for the construction of a new integrated terminal building at Chandigarh Airport.
It has also secured an order for the construction of an IT campus in Hyderabad.
L&T’s construction division has secured a turnkey order worth Rs 155 crore from Greater Mohali Area Development Authority for the construction of roads, water supply, electrical services (street-lighting) and development of parks.
L&T has also bagged orders worth Rs 275 crore from the Kolkata Metropolitan Development Authority for design and construction of a four-lane flyover, rail overbridge and viaduct.
In addition, the company’s construction arm has got additional orders worth Rs 297 crore in various ongoing projects.
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