Engineers India Limited (EIL) said that it has bagged a contract worth INR 1,039 crores ($140 million) pertaining to the Cauvery Basin Refinery Project in Tamil Nadu from the Chennai Petroleum Corporation Limited (CPCL). The contract is for executing the engineering, procurement and construction management-1 (EPCM-1) with MPMC and EPCM-3 services for the 9 million […]
IRB Infrastructure Developers said that it has prevailed as a preferred bidder for a stretch of the Chittoor-Thachur Six Laning highway hybrid annuity project in Tamil Nadu (TN) at the cost outlay of INR 909 crores. The bidding was for the construction of six lanes of the 20km long Pondavakkam to Kannigaipair stretch on the […]
Caplin Point Laboratories said that its subsidiary — Caplin Steriles has secured approval from Agência Nacional de Vigilância Sanitária (ANVISA), the Brazilian national health surveillance agency, for its sterile injectable manufacturing plant in Tamil Nadu (TN). The approval from ANVISA enables Caplin Steriles to register and market its products in Brazil, which is considered to […]
Karur Vysya Bank said that it has donated INR 10 lakhs to the District Collector, Karur, Tamil Nadu from its CSR funds for supporting the state government’s Covid-19 vaccination drive. The Indian commercial banking company said that it had responded to a request from the Karur district authorities to implement the Tamil Nadu government’s initiative […]
City Union Bank Limited, formerly called Kumbakonam Bank Limited, has reported a 12% growth in its net profit for the first quarter of the financial year 2021-22 (Q1 FY 2022) at INR 173 crores, compared to INR 154 crores in the same quarter of the previous financial year. The Tamil Nadu-based bank said that its […]
WABCO India Ltd., a commercial vehicle technology provider for trucks, trailers, buses, said that it will incorporate a fully-owned subsidiary in Tamil Nadu for establishing a new manufacturing unit to meet the growing demand and support growth in its exports. The subsidiary will have an authorised and paid up capital of INR 1 crore, said […]
ASI Industries Limited, an Indian stone mining and quarrying company, is set to sell its engineered stone business to Marudhar Rocks International for INR 84.5 crores. In this regard, the parties have signed a memorandum of understanding (MoU) for defining the main terms agreed, which will be used as the basis of a definitive agreement. […]
Hitachi ABB Power Grids in India said that it has commissioned a 6GW ultra-high voltage direct current transmission link (UHVDC project) for Power Grid Corporation of India (POWERGRID). The company, which trades on Indian stock exchanges as ABB Power Products and Systems India Limited, said that the +/-800 kilovolt (kV) transmission line can handle the […]
Ola Electric, a business unit of ANI Technologies, has signed a 10-year debt financing agreement for $100 million with Bank of Baroda for funding and financial closure of phase 1 of its Ola Futurefactory. To be located in Krishnagiri, Tamil Nadu, Ola Futurefactory will be the global manufacturing hub of Ola Electric for its electric […]
Metropolis Healthcare indicated that its previously announced acquisition of Dr. Ganesan’s Hitech Diagnostic Centre and its subsidiary Centralab Healthcare Services is likely to be terminated. The Indian chain of pathology labs and diagnostic centers said that the closing of the cash and stock deal has been delayed by the sellers in fulfilling their obligations under […]