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Business Standard

Global investor consortium lines up Rs 2,100 crore investment in SP Group

Engineering and construction major Shapoorji Pallonji group is gearing up to receive investments of over Rs 2,100 crore from a consortium of global investors led by Deutsche Bank, according to sources. The global investors are existing investors in the group's investment company Goswami Infratech, which is also one of the promoter companies of Afcons Infrastructure that is scheduled for Rs 7,000 crore IPO early next month. The group has also sought an extension of payments on non-convertible debentures of up to Rs 2,100 crore, which are due in September, till December this year. This development comes on the back of the SP Group lining up near-term repayments of nearly Rs 8,000 crore through identified liquidity events, including proceeds from the upcoming IPO Afcons Infrastructure and from the sale ports assets, a person aware of the development said. "A few global investors in Goswami Infratech Pvt Ltd have agreed in principle to further their investments in the SP Group company,

The Economic Times

Developers allowed to carry non-polluting work during construction ban in NCR

Real estate developers in the National Capital Region can now continue non-polluting construction activities during winter's high pollution period. The new guidelines list banned activities, allowing interior work to proceed. This change aims to minimize project delays and support laborers by keeping them engaged despite pollution-related restrictions.

The Economic Times

Steel firm Rhetan TMT plans to set up 2 MW solar plant for captive use

Rhetan TMT Ltd plans to establish a 2 MW solar power plant at its Kadi manufacturing facility in Gujarat. The solar plant will be for captive use, reducing power costs and promoting green energy. The company's board will meet on Friday to approve the project. Rhetan TMT produces TMT Bars and Round Bars for the construction industry.

The Economic Times

India aims to slash logistics costs to single-digit percentage in next five years

India aims to reduce its logistics costs to a single-digit percentage within five years, according to Union Minister Nitin Gadkari. He highlighted ongoing highway and expressway construction as key initiatives. Gadkari also envisions making India's automobile industry the largest globally and emphasized increasing farmers' purchasing power to boost economic growth.

Business Standard

B L Kashyap gets construction order worth Rs 221 crore

The civil engineering company announced that it has secured new order aggregating to Rs 221 crore from SSS Realty & Co for construction work in Bangalore.

Business Standard

GRSE rallies after bagging contract to construct 4 multi-purpose vessels

Garden Reach Shipbuilders & Engineers (GRSE) jumped 3.15% to Rs 1,771.35 after the firm has signed a contract with Carsten Rehder Schiffsmakler and Reederei GmbH & Co., KG Germany for construction and delivery of additional 4 multi-purpose vessels.

CNBC TV18

Garden Reach Shipbuilders bags $54-million German order for four more cargo vessels

Back in June 2024, Garden Reach Shipbuilders and Engineers signed an agreement with Carsten Rehder Schiffsmakler and Reederei GmbH & Co for the construction and delivery of four multi-purpose cargo vessels. Shares of Garden Reach Shipbuilders and Engineers Ltd ended at ₹1,717.25, down by ₹8.40, or 0.49%, on the BSE.

The Economic Times

Union Cabinet approves Chandrayaan-4, Venus Orbiter Mission

The project is estimated to cost Rs 2,104 crore. The Indian government has also approved the construction of the first unit of the Bharatiya Antariksh Station, extending the scope of the Gaganyaan programme.

Business Standard

TPREL pledges Rs 75,000 crore to achieve 20GW solar capacity by 2030

Tata Power Renewable Energy Ltd (TPREL) has committed an investment of Rs 75,000 crore to achieve 20GW of operational capacity by 2030, a top company official said. Talking to PTI Videos on Tuesday, TPREL President Deepesh Nanda said that the company is already operating 5 GW capacity and has another 5 GW under construction. "We have committed to take this number all the way to 20 GW operational capacity by 2030," he said. To achieve this target, TPREL has committed an incremental investment of Rs 75,000 crore, he said adding that the company may meet these goals, possibly ahead of schedule. "We have just commissioned a massive 4.3 GW module manufacturing facility in Tirunelveli, which will further support our growth plans," Nanda added. Tata Power Renewable Energy Ltd is a subsidiary of Tata Power Ltd.

The Economic Times

Tata Power arm pledges Rs 75,000 cr to achieve 20GW solar capacity by 2030

Tata Power Renewable Energy Ltd (TPREL) plans to invest Rs 75,000 crore to reach 20GW of operational capacity by 2030. Currently, the company operates 5 GW and has another 5 GW under construction. TPREL recently commissioned a 4.3 GW module manufacturing facility in Tirunelveli to support its growth.

The Economic Times

Centre readies to auction 10 offshore mineral blocks

The centre will soon auction ten offshore mineral blocks to expand raw material sources for key industries like construction. Secretary of the Ministry of Mines, V L Kanta Rao, announced this at the FIMI AGM. The Geological Survey of India has identified areas for sand, lime mud, and polymetallic nodules extraction.

CNBC TV18

Jupiter Wagons to invest ₹2,500 crore to transform subsidiary, set up new wheelsets plant

Jupiter Wagons will increase this capacity through the construction of a new state-of-the-art production facility for forged wheelsets in Odisha.

The Economic Times

Adani’s Kenya transmission deals still under talks, agency says

Kenya Electricity Transmission Co. is still negotiating with Adani Energy Solutions Ltd. for the construction of three power lines, despite earlier claims of a finalized deal. The project cost has been revised to $736.5 million. Kenya faces a $5 billion financing gap for power lines and seeks the best deal.

The Economic Times

Shapoorji Pallonji group's firm Afcons Infrastructure, 4 others get Sebi's nod to float IPOs

Five companies, including Shapoorji Pallonji group's flagship infrastructure engineering and construction company, Afcons Infrastructure Ltd (AIL), have received Sebi's go-ahead to raise funds through initial public offerings, an update with the regulator showed on Monday.

Mint

Shapoorji Pallonji Group’s infrastructure flagship firm Afcons Infrastructure gets Sebi nod for ₹7,000 crore IPO

Afcons Infrastructure, which is the flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group, has received final approval from the SEBI to raise ₹7,000 crore via IPO.

Business Standard

Tata Electronics to build two semiconductor manufacturing fabs in Gujarat

Construction Tata Electronics' first chipmaking unit in Gujarat is already underway with its first phase valued at Rs 91,000 crore

Business Standard

HG Infra Engg stock surges 5% after subsidiary acquires new solar power cos

Shares of civil construction firm HG Infra Engineering rose as much as 5.12 per cent on BSE at Rs 1,644.15 per share on Monday's intraday trade

Business Line

Goodluck India Limited inaugurates its hydraulic tubes manufacturing unit

The highly specialised hydraulic tubes, which find applications in construction machinery, light commercial vehicles and other industrial equipments, will act as a replacement for seamless tubes and help substitute imports

Business Standard

Kenya awards $1.3 bn transmission deal to Adani amid airport lease protests

Kenya has awarded a $1.3 billion public-private partnership contract to India's Adani Group and Africa50 for the construction of power transmission lines

Business Standard

JSW Energy arm commissions 300 MW wind power plant at Tuticorin in TN

JSW Energy on Sunday announced that its step-down subsidiary, JSW Renew Energy Two Ltd, has successfully commissioned a 300 MW wind power plant at Tuticorin in Tamil Nadu. The ISTS-connected (Inter-state transmission system) wind power project was awarded by Solar Energy Corporation of India (SECI) in tranche X, a company statement said. This marks the first-ever greenfield wind power plant commissioned by the company for the SECI, it noted. The newly commissioned wind power project will contribute significantly to the renewable energy portfolio, supporting the vision of a greener and sustainable future, the company said. The additional 150 MW of wind capacity awarded under SECI Tranche X located at Dharapuram, Tamil Nadu, is also nearing completion with 138 MW already commissioned, it informed. Subsequent to this, total current installed capacity stands at 7,726 MW while the under- construction capacity stands at 2,114 MW, that is expected to be commissioned by the end of FY ...

The Economic Times

New cruise terminal in Goa to boost tourism, local economy: Official

The Mormugao Port Authority anticipates further growth in cruise passengers with the construction of an International and Domestic Cruise Terminal in Goa by March 2025. This development aims to boost tourism and the local economy, enhancing the region's competitiveness in the global cruise market.

Business Standard

Got 35,000 MT rails, track construction machinery for bullet trains: NHSRCL

The National High Speed Rail Corporation Limited (NHSRCL) on Friday said it has received more than 35,000 MT of rails and four sets of track construction machinery for the Ahmedabad-Mumbai bullet train project. The process of flash-butt welding of rails to form 200-meter-long panels has started on the viaduct as track construction is underway near Surat and Anand cities in Gujarat, the NHSRCL said in a release. The 508 km high-speed corridor is being constructed between Ahmedabad and Mumbai. The bullet train project will have a J-Slab track system based on the Japanese Shinkansen track system. This is the first time the system will be used in India, it said. The process of track installation is mechanised with cutting-edge machinery, specially designed and manufactured as per Japanese specifications, it was stated. As per the release, the NHSRCL has received more than 35,000 MT of rails and four sets of track construction machinery for the project. The fleet of machines includes

The Economic Times

More than 35,000 MT rails, track construction machinery received for bullet train project: NHSRCL

The National High Speed Rail Corporation Limited has received over 35,000 MT of rails and four sets of track construction machinery for the Ahmedabad-Mumbai bullet train project. The 508 km high-speed corridor will use the Japanese Shinkansen track system. Track installation is underway near Surat and Anand in Gujarat.

Business Line

Macpower CNC Machines to increase manufacturing capacity by 25%

The company aims to increase its annual production from 2,000 to 2,500 machines, including the construction of a new 40,000-square-foot assembly unit.

Business Standard

Trading strategies in stocks that turned ex-bonus, split this week

KIMS, Monarch Networth can potentially rally up to 11% from adjusted stock price; whereas, Bigbloc Construction and Andhra Papers may witness weakness in the near-term; suggests technical charts.

Business Standard

Groundbreaking ceremony for Dharavi redevelopment performed at RPF grounds

The Dharavi Redevelopment Project Pvt Ltd (DRPPL), the firm redeveloping Asia's largest slums, on Thursday performed the groundbreaking ceremony (Bhoomi Poojan) of the Dharavi redevelopment project at the RPF grounds in Matunga. The pooja, conducted in an area called Sector 6, marks the auspicious beginning of the construction of Railway's staff quarters and offices to be handed over to the government, as mandated in the Dharavi Redevelopment tender documents, sources said. Already, the state government-led door-to-door survey to determine eligible and ineligible residents is on with an idea to speed up the redevelopment and to ensure inclusive development. The DRPPL, which is a joint venture between the state government and the Adani Group, has also moved in the direction envisaged by the Maharashtra government, which is on a mission to make Mumbai a slum-free city by 2030. Mapping of the roughly 600 acres of densely populated Dharavi is crucial for the redevelopment that is likel

The Economic Times

SBI sanctions Rs 10,050 cr loan for 1,600 MW thermal power project

State Bank of India has sanctioned a project loan of Rs 10,050 crore for Damodar Valley Corporation's 1,600 MW Ultra Super Critical Thermal Power Project in Koderma, Jharkhand. The project includes the construction of two units of 800 MW each and is part of the Ministry of Power's capacity addition plans by 2030.

CNBC TV18

H G Infra Engineering bags ₹716-crore Central Railway project in Maharashtra

The project involves the construction of a new broad gauge line between Dhule and Nardana in Maharashtra, spanning 49.45 km. Shares of H G Infra Engineering Ltd ended at ₹1,500.80, down by ₹5, or 0.33%, on the BSE.

Mint

Vedanta Aluminium doubles down on value-added AL to cash in on India’s construction boom, EV drive

As Vedanta Aluminium prepares for a significant demerger, the company is focused on ramping up its production of high-margin, environmentally friendly aluminium products. This move comes at a time when domestic demand is expected to double.

Business Standard

HPCL board approves Rs 2,212-cr investment; appoints K Vinod as CFO

Hindustan Petroleum Corporation (HPCL) announced that it has received an approval from its board for the construction of pipeline from Visakh to Raipur at an estimated cost of Rs 2,212 crore.

Business Standard

Kalpataru Projects International bags orders worth Rs 2,774 crore

Kalpataru Projects International on Thursday said the company and its arms secured orders worth Rs 2,774 crore. Kalpataru Projects International Ltd (KPIL), one of the largest Engineering & Construction companies listed in India along with its international subsidiaries have secured new orders/notification of awards of Rs 2,774 crore, a company statement said. These include new orders in the Transmission & Distribution (T&D) business in overseas markets and the EPC project for Extension of Airport from Airports Authority of India (AAI). The new orders also include Design & Build project for residential buildings in India. Manish Mohnot, MD & CEO, KPIL, said in the statement, "We are pleased with the continuous ordering momentum, especially in our T&D and Buildings and Factories (B&F) business." The order from the AAI will mark our entry into the growing domestic airport sector and further diversify our clientele, he added. The orders in the T&D and ...

The Economic Times

Centre gives nod to implement Pradhan Mantri Gram Sadak Yojana phase four

The Union Cabinet, led by PM Narendra Modi, has approved the Pradhan Mantri Gram Sadak Yojana - IV for FY 2024-25 to 2028-29 with a budget of Rs 70,125 crore. This initiative aims to construct 62,500 km of roads, connecting 25,000 unconnected habitations and upgrading bridges using advanced construction technologies.

The Economic Times

Annu Projects Limited secures funding from Chanakya Opportunities Fund

Annu Projects, a telecom network construction solutions provider, has secured funding from Chanakya Opportunities Fund to meet its working capital needs. The company has received work orders worth Rs65,000 crore under BharatNet Phase III. This investment aims to enhance Annu Projects' market position and capabilities.

Business Standard

L&T joins semiconductor race, to create chip firm and invest over $300 mn

The tech-to-construction company will spend the money over three years to establish a fabless chipmaker, which designs and sells semiconductors but contracts out their production

Mint

Midcap defence stock snaps four-day losing streak on govt order win, stock up 76% in one year; Buy or sell?

Action Construction Equipment Share Price Today: Shares of the midcap defence stock snapped its four-day losing streak on Tuesday after receiving orders from the defence ministry

CNBC TV18

Orders worth over ₹2,000 crore: Shares of three companies surge up to 7%

Shares of Action Construction Equipment (ACE) surged despite the company not disclosing the size of its 99 forklifts order from the Ministry of Defence.

The Economic Times

Cement companies may have to roll back September price hike: Nuvama

Indian cement companies may need to roll back their September price hikes due to weak demand, according to a Nuvama Institutional Equities report. Demand is expected to improve from Q3FY25, driven by post-monsoon construction activities. However, current market conditions raise concerns about the sector's short-term pricing power and ability to maintain price increases.

The Economic Times

Nitin Gadkari encourages carmakers to setup scrapping centres, announces testing agency in Pune

India currently has 63 operational scrapping centres, with more under construction and in the pipeline. Union Minister Nitin Gadkari highlighted the potential of the scrapping industry to boost sales and create jobs. He also emphasized the importance of alternative fuels like CNG, LNG, and hydrogen for economic and environmental benefits. Gadkari urged manufacturers to focus on quality and safety in vehicle production.

The Economic Times

Tata Electronics, Tokyo Electron partner to bolster semicon equipment infra

As the construction of these facilities progresses, the company said it was critical to grow partnerships across the entire semiconductor ecosystem, spanning process and design technology, as well as equipment suppliers. With this announcement of the partnership with TEL, Tata Electronics said it has "solidified a critical pillar to achieve its execution targets."

CNBC TV18

HG Infra Engineering lands ₹781-crore contract to upgrade NH 47 in Gujarat

Rajasthan-based HG Infra Engineering provides infrastructure construction services. Shares of HG Infra Engineering Ltd ended at ₹1,456.95, down by ₹35.30, or 2.37%, on the BSE.