Jindal Steel and Power, Dilip Buildcon and RITES to see some action today

Jindal Steel and Power (JSPL) will spend Rs 7,930 crore under the PLI scheme for specialty steel to manufacture eight types of high-end alloy in the country.  JSPL is one of the qualifiers of the government's production linked incentive (PLI) scheme which aims to increase the output of value-added steel using new age technologies in the domestic steel sector.

Dilip Buildcon has received the letter of acceptance (LOA) from the National Highways Authority of India (NHAI) for Development of 6 lane Access Controlled Greenfield Highway from km. 97.000 to km 162.500 Maradgi S Andola to Baswantpur section of NH-150C (Package-III of Akkalkot-KNT/TS border) in the state of Karnataka on Hybrid Annuiry Mode under Bharatmala Pariyojna. The bid project cost is Rs 1589 crore. The completion period of the project is 30 months and operation period is 15 years from commercial operation date (COD).

RITES signed a memorandum of understanding (MoU) with Kirloskar Oil Engines (KOEL) to jointly explore business opportunities for supplies/services in the areas of Export of Railway Rolling Stock, Infrastructure and Urban Transport for domestic and overseas markets. As part of the MoU, RITES will provide expertise in design, marketing, operation & maintenance, and any other support required for tapping business opportunities, while KOEL will be responsible for the development and manufacturing of customized products. 

Phoenix Mills has completed the acquisition of 7.22 acre-land parcel in Surat, Gujarat for about Rs 510 crore. The amount is inclusive of stamp duty. The land parcel has been acquired through Thoth Mall and Commercial Real Estate, an indirect subsidiary of the company. The subsidiary firm will develop a premium retail destination with gross leasable area of about 1 million square feet, and currently, expects to complete the retail development by FY27.

A consortium of three Indian partners namely 3i Infotech, Forensics Intelligence Surveillance and Security Technologies (FISST) and Yellow Inc, have been awarded Wi-Fi Monetisation Project by RailTel Corporation of India (RailTel) with 3i Infotech being the lead bidder. For pursuing the WiFi Monetisation Project, the Board of Directors of 3i Infotech, at its meeting held on December 16, 2022, has inter-alia approved formation of subsidiary company.

Omaxe has incorporated a Step-down Wholly Owned Subsidiary in the name of Estatelance Real Estate. The company  is incorporated to purchase, sell, acquire, get convert, develop, improve, construct, hold with absolute or limited rights or on lease, sub lease or otherwise and to erect, build, demolish, re-erect, alter, repair, furnish and maintain land, including agricultural land, buildings, townships, houses, farm houses, villa, residential flats, commercial complexes, residential cum commercial complexes, colonies, markets, shops, factories, mills, godowns, roads bridges, dams, canals and wells in India or abroad and to manage land, Building, whether in India or abroad.

Tata Motors’ wholly owned subsidiary -- TML Smart City Mobility Solutions has signed a definitive agreement with Bengaluru Metropolitan Transport Corporation (BMTC) for operation of 921 electric buses in the city of Bengaluru. As part of the agreement, TML Smart City Mobility Solutions will supply, operate and maintain 921 units of 12-metre low-floor electric buses for a period 12 years. Tata Starbus Electric is an indigenously developed vehicle with superior design and best-in-class features for sustainable and comfortable commute.