L&T wins orders worth Rs1,030 crore

Larsen & Toubro (L&T) Ltd has said that its construction division has won orders worth Rs1,030 crore for the construction of commercial and residential buildings including metro depot facilities.

It has won new orders worth Rs385crore for the construction of residential buildings from developers, the company said in a press release.

L&T has further won orders worth Rs645 crore for construction of commercial buildings and metro depot facilities.

On Thursday, L&T ended 3.48% down at Rs1,941.95 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.73% down at 19,318.16 points.
 

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NTPC signs JV agreement for renewable energy

NTPC Ltd (NTPC), Asian Development Bank (ADB) and Kyuden International Corporation (Kyushu) have  signed an agreement  to form a joint venture company (JVC) to develop a portfolio of about 500 MW of renewable power generation in three years.

NTPC, ADB and Kyushu would invest in the ratio of 50:25:25 in the equity share capital of the JVC. The initial authorised share capital of the company would be Rs6.5 crore and the paid-up share capital would be Rs1 crore. The JVC would come up at in NCT of Delhi. It would initially develop wind power and small hydroelectric power projects and in future may also develop other renewable power generation resources.

On Thursday, NTPC declined 177.15% to Rs177.15 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.73% down at 19,318.16 points.

 

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COMMENTS

Panchabuta

6 years ago

Excellent initiative by NTPC, ADB and the Japanese partners. Given that only hydro projects below 25MW qualify for green in India according to MNRE, 500MW of capacity in less than 3 years will be a formidable challenge given gestation periods for some of the projects. Of course wind could be one big component as it is a mature, scalable and easy to commission. Biomass does not offer scale due to the scarcity of feedstock. Given this, it seems like wind and solar might be the two best options. Panchabuta has detailed essays on the renewable energy and cleantech space in India at its blog at http://goo.gl/lM9ek

GMR Infra arm wins project for Male International Airport

GMR Infrastructure Ltd, said that its subsidiary GMR Male International Airport (GMIAL) has won a project to modernise, expand and operate Republic of Maldives's capital Male's International Airport.

Earlier on 24th June, the consortium led by GMR Infrastructure with Malaysia Airports Holdings Berhad (MAHB), had won concession for the Male Airport for 25 years.

GMIAL is the special purpose vehicle formed in Maldives pursuant to the concession, in which the stake of GIL and MAHB is 77% and 23%, respectively.

The total cost of the modernisation and expansion project, estimated at $511 million, is funded through a combination of debt and equity in the ratio of 70:30.

The debt component of $358 million has been tied up with Axis Bank's Singapore branch, which is acting as the sole underwriter and mandated lead arranger for the entire debt facility.

The debt has a door-to-door tenure of 12 years, with ballooning repayment over seven years, commencing from June 2015. Axis Bank is also acting as the security trustee and facility agent, whereas State Bank of India's Maldives branch is acting as account bank for the debt facility.

With Male, the GMR Group has four operational airports. The others being Delhi, Hyderabad and Istanbul.

On Thursday, GMR Infra ended 4.88% down at Rs46.75 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.73% down at 19,318.16 points.

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