Artson Engineering wins contract worth Rs32 crore from Cairn Energy India

Artson Engineering Ltd said it has won a contract worth around Rs32 crore from Cairn Energy India Pty Ltd for Bhagyam Field Development Project in Barmer, Rajasthan on-shore oil fields.

The project consists of all mechanical works and piping for eight wellpads. The project is expected to be completed by June 2012.

On Monday, Artson Engineering gained 3.70% to Rs70.10 on the Bombay Stock Exchange, while the benchmark Sensex closed 2.38% down at 19,224.12 points.

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Indraprastha Gas Q3 net rises 14% to Rs67.19 crore

Indraprastha Gas Ltd said its net profit stood at Rs67.19 crore, up 14.02% for the December 2010 quarter compared to Rs58.93 crore in the corresponding period last year.

The company's net revenues jumped 59.76% to Rs454.70 crore in the December 2010 quarter from Rs284.61 crore, said the company in a statement.

On Monday, Indraprastha Gas ended 2.38% down at Rs330.20 on the Bombay Stock Exchange, while the benchmark Sensex closed 2.38% down at 19,224.12 points.
 

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Sterlite Technologies receives financial closure for Rs700-crore project

Pune-based Sterlite Technologies Ltd said it has arranged Rs700 crore worth of funds for its mega transmission project connecting North-east with the Northern states India.

The ultra mega power transmission project (UMTP) was won by East North Interconnection Company Ltd (ENICL), a wholly-owned subsidiary of Sterlite Technologies. SBI Caps was the sole arranger for the debt.

The East-North interconnection mega transmission project aims to evacuate power from the North-East and Eastern states to the Northern region of India is the first mega independent power transmission project to be awarded in India.

The project involves establishment of two 400 kV double circuit transmission lines that would connect Assam with West Bengal and Bihar.

The project has been awarded on a 'build, own, operate and maintain' basis. ENICL was a special purpose vehicle created for the East-North interconnection mega transmission project.

On 31 March 2010, Sterlite Technologies completed the process of 100% acquisition of ENICL from Power Finance Corporation Ltd.

On Monday, Sterlite Technologies closed at Rs69.95, down 4.18% on the Bombay Stock Exchange, while the benchmark Sensex ended 2.38% down at 19,244.12 points.

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