ABB would supply various products, including switchgear, transformers, cables, fire protection and detection systems
Multinational power and automation technology company ABB said it has secured a $71 million order from Steel Authority of India Ltd (SAIL) for supply of a high-voltage sub-station package to the steel major's Bhilai plant in Chhattisgarh.
"The new high voltage sub-stations will enable the additional power supply needed to support a planned increase in the steel plant's annual production capacity from 5 million to 7 million tonnes," the Swiss entity said in a statement.
ABB would supply various products, including switchgear, transformers, cables, fire protection and detection systems. The company would also install substation automation systems for the project, which is expected to be completed by 2013.
Apart from enhancing power supplies to support increased production, the sub-stations would improve the availability and reliability of electricity supplied to the plant, said Mr Peter Leupp, ABB's Power Systems division head.
"ABB's energy-efficient and environmentally friendly technologies will also facilitate the phase out of ageing, energy-intensive equipment, bringing operational benefits," Mr Leupp noted.
On Friday, ABB ended 5.71% down for Rs750.05 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.22% to 16,162.06.
Under the agreement SMC has the television, home video and licensing and merchandising rights for the 52 x 11' 3D animated TV series
DQ Entertainment (International) Ltd has signed a licensing and distribution deal with SMC Entertainment Inc, a division of US-based Sun-Mate Corporation Inc, (SMC) for 'The Jungle Book' Season One.
Under the agreement SMC has the television, home video and licensing and merchandising rights for the 52 x 11' 3D animated TV series The Jungle Book for a an initial term in North America.
SMC Corporation projected that it will earn around $50 million from licensing, merchandizing, TV and home-video sales during this term, out of which DQE will be eligible to get the agreed royalty income as well as a multi-million dollar minimum guarantee and licensing fee. SMC intends to maximise the sales of Jungle Book through different verticals complementing its strong manufacturing and retail reach.
On Friday, DQE ended 5.14% down for Rs37.80 on the Bombay Stock Exchange, while the benchmark Sensex declined 1.22% to 16,162.06.
EBS will continue to operate under its current management structure and will be responsible for running the operations and the continued expansion of the company
EBS (E-Billing Solutions), the second largest on-line payment provider in India, has announced that Ogone Payment Services, one of Europe's leading payment service providers, has signed a binding agreement to acquire the company. This acquisition marks Ogone's first foray outside of the European market and into the rapidly expanding Indian on-line payments market.
However, EBS will continue to operate under its current management structure and market approach and will be responsible for running the operations and the continued expansion of the company. EBS will also retain its name and brand in the Indian market. The EBS board is supported by 3 members of the Ogone Payment Services Board.
Nishanth Chandran, Co-Founder & CEO of EBS, said: "This deal represents a huge opportunity for us to lead the market in India and Ogone Payment Services are the right partner to enable us to get to the number one position in India."
Mr Peter De Caluwe, CEO of Ogone Payment Services, said: "Only 8.4% of the Indian market is currently online but this translates to 100 million users, which makes it the fourth largest online country in the world and this is set to grow rapidly with online travel accounting for 80% of the commerce in India. Acquiring a leading company such as EBS represents a huge potential for us and our European merchants."
EBS were advised by growth partnership firm IndigoEdge. Ogone, meanwhile, were advised on the deal by Brian, Garnier & Co, an independent pan-European investment bank focused on growth companies.