India’s Larsen & Toubro (L&T) has supplied 46 process and piperack modules to Linde Engineering, Singapore, for a gasification facility, which will produce hydrogen and synthesis gas. Weighing 34,000 metric tons, modules were fabricated by Larsen & Toubro at its modular fabrication facility at Kattupalli, Chennai. Subramanian Sarma — Larsen & Toubro Whole-Time Director and […]
Sanmina Corporation, an American electronics manufacturing solutions company, has wrapped up the previously announced joint venture (JV) transaction with Reliance Strategic Business Ventures Limited (RSBVL), a fully-owned subsidiary of Reliance Industries Limited (RIL). Announced in March 2022, the joint venture is for creating an electronic manufacturing hub in India, based at the 100-acre campus of […]
Indian phosphatic fertilizer company Coromandel International, through its venture capital arm Dare Ventures, has made an undisclosed investment in drone startup Dhaksha Unmanned Systems. The investment, which is the third for Dare Ventures this year, will be used by Dhaksha Unmanned Systems for talent acquisition, research and development (R&D), and production scale-up. Based in Chennai, […]
Detect Technologies has entered into a global agreement with diversified natural resources company Vedanta Resources for deploying its T-Pulse artificial intelligence (AI) based workplace safety software. According to the Chennai-based industrial AI company, its T-Pulse workplace safety software was trialed at multiple industries of the Vedanta Group before it was decided to be implemented across […]
Larsen & Toubro (L&T) said that it has bagged one more package in the Chennai Metro Rail Projects (CMRL Projects), which is Package C3 (CP08 EV01) of Phase-II. The contract is in the range of INR 1,000 to 2,500 crores. According to Larsen & Toubro, the scope of CP08 EV01 package includes the construction of […]
The Phoenix Mills Limited (PML), an Indian mixed-use real estate developer, has taken full ownership of Classic Mall Development Company (CMDCL) by acquiring the remaining 50% for INR 9,360 million. The stake was acquired from Crest Ventures Limited (46.35%) and its fully-owned subsidiary Escort Developers Private Limited (3.65%). Phoenix Mills financed the acquisition through internal […]
Reliance Strategic Business Ventures Limited (RSBVL), a fully-owned subsidiary of Reliance Industries Limited (RIL), has agreed to create a joint venture (JV) with Sanmina Corporation, an American electronics manufacturing solutions company. The joint venture is being created through an investment of INR 1,670 crores by Reliance Strategic Business Ventures in Sanmina’s Indian entity — Sanmina […]
Bharti Airtel said that its data center subsidiary — Nxtra by Airtel has launched a new 38MW hyperscale data center park in Chennai, its third such large facility in the Tamil Nadu capital. The Airtel data center facility was digitally unveiled by Tamil Nadu CM MK Stalin. According to Bharti Airtel, the LEED certified facility […]
Computer Age Management Services Ltd (CAMS) has reported a profit after tax (PAT) of INR 72.56 crores for the second quarter of the financial year (Q2 FY22), a year-on-year increase (YoY) of 48%. The basic earnings per share (EPS) of the Chennai-based mutual fund transfer agency for Q2 FY22 were INR 14.86. Computer Age Management […]
Aban Offshore Limited, a Chennai-based offshore drilling services provider, said that its board has approved the sale of the Deep Driller 3 jack-up rig by its step down subsidiary Deep Drilling 3 Pte Ltd to Abu Dhabi-based ADNOC Drilling Company. The consideration for the sale is INR 233.27 crores. Built in the year 2006, the […]