The project is a partnership between Servtec and the Brazilian investment fund manager, Rio Bravo Investimentos, and will comprise of 12 units of Suzlon's S95 - 2 MW wind turbines.
Suzlon Energy has informed BSE about the Suzlon Group winning a 24 MW order in Brazil. Suzlon Energia Eolica do Brasil Ltda. - subsidiary of Suzlon Group, the world's fifth leading wind turbine maker - announced a new order from the Servtec Group to set up, operate and maintain a 24 MW (megawatt) wind power project in the state of Ceara, Brazil. The project is a partnership between Servtec and the Brazilian investment fund manager, Rio Bravo Investimentos, and will comprise of 12 units of Suzlon's S95 - 2 MW wind turbines.
The project is scheduled to be commissioned in phases by December 2013 and is expected to offset over 43,000 tones of CO2 annually. This is the second partnership between energy and engineering major Servtec and Suzlon, which already has 155 MW of wind capacity operating across four wind farms in Ceara.
Mr. Lauro Fiuza, Chairman of the Board - Servtec Group, said: "Suzlon is a market leader in Brazil and has immense experience of wind markets in emerging economies. We are confident to work with them in this second enterprise. They are the right partners for us in expanding our renewable energy footprint in Brazil. We look forward to a very rewarding long term relationship for both companies."
Mr. Tulsi Tanti, Chairman - Suzlon Group said: "Brazil is today a very important economy on the world stage, and a leading adopter of wind energy. As Brazil deepens its commitment to powering economic growth on green energy, we are proud to bring our technology, service offerings and vast experience to this market. With the trust of renowned companies like Servtec, we are poised to make the most of Brazil's wind potential."
Suzlon established its presence in Brazil in 2006. In just over five years, the company has installed 11 wind farm projects with a total installed capacity of 389 MW and employs over 180 people. Suzlon operations in the country are located at Ceara State, with sales offices in Sao Paulo."
In the late afternoon, Suzlon Energy was trading at around Rs20.25 per share on the Bombay Stock Exchange, 3.05% up from the previous close.
The By Product Plant (BPP) Package for the upcoming 3 MTPA integrated steel plant at Nagarnar has a total cost of Rs509 crore.
NMDC Ltd has informed the BSE that the company has signed the contract for By Product Plant (BPP) Package for the upcoming 3 MTPA integrated steel plant at Nagarnar, with the consortium led by Shriram EPC Ltd (SEPC) on 10 January 2012. The total cost of the package is Rs509 crore.
The BPP unit is an important installation in integrated steel making, which processes valuable raw Coke Oven gas from coke ovens to yield by products like TAR, Naphthalene and Sulphur besides clean coke oven gas used in the fuel gas network of the integrated steel plant.
In the late afternoon, NMDC was trading at around Rs171.35 per share on the Bombay Stock Exchange, 1.42% up from the previous close.
“This award underlines the transparency in our process of financial reporting, which is crucial in enhancing the credibility the company enjoys amongst the various stakeholders:” R.Sridhar, managing director of Shriram Transport Finance Company Ltd.
The Institute of Chartered Accountants of India have adjudged Shriram Transport Finance Company Ltd as the winner under the Category V-Financial Services Sector (other than Banking and Insurance) of the ‘ICAI Awards for Financial Reporting’.
The awardees have been selected by a panel of judges on review of accounting practices adopted by the participating enterprises in the preparation of financial statements and the policies adopted for disclosure and presentation of financial statements and other information in the annual reports without regard to their financial condition and operating performance. The award was handed over at a glittering ceremony which was held on 6 January 2012 at the Chennai Trade Centre in Chennai, after the inaugural ceremony of the International Conference on ‘Accountancy Profession: Leveraging Emerging Challenges for Inclusive Growth’.
On being chosen as the winner in their respective category, Mr R.Sridhar, managing director of Shriram Transport Finance Company Ltd. said “This award underlines the transparency in our process of financial reporting, which is crucial in enhancing the credibility the company enjoys amongst the various stakeholders. The team at Shriram Transport Finance feels privileged to have been chosen as the winner amongst highly competitive and esteemed nominees in terms of financial reporting by the very notable Institute of Chartered Accountants of India.”
Shriram Transport Finance Company Limited is the flagship company of the Shriram group. It has PAN India presence with 496 branch offices. Based at Mumbai, it manages assets of over Rs38,000 crore and has a live customer base exceeding 8,00,000.
In the late afternoon, Shriram Transport Finance was trading at around Rs503.25 per share on the Bombay Stock Exchange, 1.03% up from the previous close.