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Former Noida Authority CEO questioned by ED in Hacienda project scam
RECPDCL transfers Rajasthan-IV H-1 power transmission to Power Grid Corp
State-owned REC announced that its subsidiary, REC Power Development and Consultancy (RECPDCL), had transferred the Rajasthan-IV H-1 Power Transmission, a special purpose vehicle (SPV), to Power Grid Corporation of India (PGCIL). PGCIL had been selected as the transmission service provider (TSP) through a tariff-based competitive bidding (TBCB) process, which was organised by RECPDCL, acting as the Bid Process Coordinator (BPC), for the development of the transmission project on a Build, Own, Operate & Transfer (BOOT) basis, as mentioned in a company statement. The statement further indicate..
BEML Secures Rs 8.67 Billion Deal to Build India’s First Bullet Train
State-owned BEML has been awarded a contract to build India’s first indigenously manufactured bullet train, with a total value of Rs 8.66 billion. According to a statement from BEML, Indian Railways' production unit, Integral Coach Factory (ICF), has placed an order for the design, manufacturing, and commissioning of two high-speed trainsets, each consisting of eight cars (coaches). BEML noted that each coach will cost Rs 270.86 million, with the total contract value including expenses for design, one-time development, non-recurring charges, and the cost of jigs, fixtures, tooling, and test..
KBC Global to raise Rs 1 billion via equity share issuance
Construction and infrastructure company KBC Global announced its plan to raise up to Rs 1 billion through the issuance of equity shares. The company's board will review and approve a proposal for raising the funds through equity share issuance via various permissible methods, including preferential allotment and warrants, according to a statement by the company. The company indicated that the proceeds from the equity issue would be used to repay its debt. As of March 31, 2024, the company had an outstanding loan balance of Rs 750.86 million. KBC Global also mentioned that on September 21..
