State-run engineering firm BHEL on Wednesday said the company and its employees have contributed a total of Rs 15.72 crore to the PM-CARES Fund to fight the COVID-19 pandemic.
The company, which has stopped work at over 500 live projects, will support about 160,000 contract workers by continuing to pay their wages during the ongoing lockdown and providing them with food and basic amenities at labour camps, while maintaining the COVID-19 prevention and containment protocol.
The moratorium on loan repayments should be extended at least to six months to one year for exporters, since the global economy is set to be slipping into a recession, said EEPC India chairman Ravi Sehgal.
"In compliance of Government directives to prevent and contain the spread of Novel Coronavirus (COVID-19) and to ensure the health and safety of employees, associates and other stakeholders, the company shall run only essential services in all of its Manufacturing Units, Divisions and Offices from March 23, 2020, until March 31, 2020," a BHEL statement said.
Larsen & Toubro (L&T)-run investment trust IndInfravit has fully acquired eight operational road projects of Sadbhav Infrastructure at an enterprise value of Rs 6,300 crore. Of these 8 projects, 6 are toll roads while the remaining 2 are annuity roads, with total length of 2,300 km across states like Karnataka, Maharashtra, Rajasthan and Telangana.
The acquisition provides impetus to Tessolve’s chip design offering taking its overall company strength to over 2,000 engineers and cements Tessolve as a leading end-to-end provider of semiconductor engineering services.
The company has secured orders worth Rs 669 crore for transmission and distribution projects in India, South Asian Association for Regional Cooperation (SAARC) countries, Middle East and the Americas, KEC International said in a regulatory filing.
An MoU has been signed between the company and IIT Madras for the collaboration. As part of the MoU, Rolls-Royce and IIT Madras will also aim to pursue advanced research in areas of relevance to future technological and programmatic needs of the company..
The company's pre-engineered buildings division received orders for manufacturing plants, airport terminal, solar mounting structures and warehouses from companies such as MRF, Mega Wide – GMR Goa Airport, Azure Power, Saffron Grid, TVS ILP, and Indus Project, Pennar Industries said in a filing to the BSE.
While there is a progressive Lift Act in some states, there is no national policy that enforces strict safety standards regarding design, construction and installation of elevators, said Kone India MD Amit Gossain. Even lift licences, wherein elevators are inspected after installation and issued a license for operation, are not prevalent in all states.
The orders include international projects in Bangladesh, Nepal and Saudi Arabia. In India, L&T said it has won an order to design and construct a 50 megawatt solar photovoltaic plant in Tamil Nadu, and some additional jobs from ongoing projects.
TERI, under the licensee area of BSES Rajdhani Power Limited (BRPL), is implementing a pilot project to integrate BESS at the distribution level
The lenders are currently evaluating the final binding offer and expect to take a final call before end-March 2020 so that the banks can comply with their provisioning norms as per central bank norms. The same investor is also working out the resolution plan of McNally Sayaji, a subsidiary of McNally Bharat, which will solve the problem of the entire infrastructure wing of the Williamson Magor group, the person said.
ABB will supply industrial drives worth Rs 68 crore to Megha Engineering and Infrastructures Ltd, an infrastructure company which recently announced its venture into the oil drilling segment. In addition to industrial drives, ABB India will also supply traction equipment worth Rs 123 crore to Chittaranjan Locomotive Works.
The company, however, did not provide the exact value of the contract, but according to its project classification, "large" orders are those valued between Rs 2,500 crore and Rs 5,000 crore
The residential segment, which accounts for almost three-fourths of the total elevator sales, was stagnated as fewer new housing projects came up. Builders have been burdened by unsold inventory and a cash crunch. The commercial segment, which includes elevators installed at malls and office complexes, fared only marginally better.
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