20 August 2019

Table of Contents for Ticker Tape





International

JSW Steel plans investment of `50 crore in Texas unit.

 

The JSW Group will invest an additional sum of `50 crore into its steel pipes and plates facility in Texas. The investment is expected to help the company reach the 1-million tonne installed capacity of the plant. JSW had brought the earlier bankrupt Baytown steel asset costing `81 crore back in Oct 2007. At that time, the plant was operating at a meager 30 per cent or 3 lakh tonne. This investment is expected to create backward integration and also to create the first melt and manufacture contiguous plates and pipes facility in Texas. The plant has turned around with cash profit of $180 million last year and is expected to turnaround fully by 2020. The plant will serve the oil and gas rich Texas, which is the second largest American state and also the largest exporter from the world's largest economy.

 

 

 

LNG aims to partner with ONGC Videsh for Qatar project

 

India’s petronet LNG Ltd is keen to join hands with the overseas arm of India’s biggest explorer Oil and Natural Gas Corp Ltd— ONGC Videsh Ltd (OVL) for picking up the stakes in the exploration and liquefied natural gas project that is coming up in Qatar. Reports suggest that this will be the first time Petronet would foray into exploration and production business and overseas LNG terminals. Only a non-confidentiality agreement would allow QatarGas to speak with other interested parties about the project in addition to Petronet. Through this project, Petronet LNG will get access to the data rooms of Qatar Gas for the evaluation of the project. The upstream project will feed into a 23 million tonnes per annum LNG terminal. Petronet currently runs a 15 million tonne per annum LNG regasification site at Dahej in the western state of Gujarat and a 5 million tonne refinery at Kochi in southern India.

 

 

 

Zensar Bags Multi-Year Contract from City of San Diego

 

Leading digital solutions and technology services company Zensar, has recently been awarded a four-year, multi-million dollar contract from the City of San Diego for network services. Reports suggest that there is an option of extending two additional two-year terms with the total not to exceed contract value being approximately $79 million. With this partnership, the aim is to make the City of San Diego more transparent and accountable while enhancing security-all at a lower cost for taxpayers. Zensar with its multiple projects will help modernize and improve the City’s network with new digital infrastructure to better serve the residents.

 

 

 

BHEL Signs Tech Pact with HLB Power, Republic of Korea

 

State owned company Bharat Heavy Electricals Ltd has under a Technology Collaboration Agreement (TCA) tied up with Korean based HLB Power to have an in-house design and manufacture of large size gates and dampers for use in coal fired plants to be commissioned or retrofitted with high capacity emission control equipment. The agreement will bring in the capability for in-house design, manufacture and testing of every large size gates and dampers.

 

 

 

Siemens to help Libya expand power gen capacity

 

Industry major Siemens has inked deals with General Electricity Company of Libya (GECOL), Libyan power generation company to increase the country’s power generation capacity by 1.3GW. The deals which includes EPC contract and long-service agreements amounting to `700 crore. As per the contract, a 650MW open cycle power plant will be set up by Siemens in Misrata. The plant will have two F-class gas turbines. Another plant with a 690MW capacity plant in Tripoli West, which will have four E-class gas turbines.

Around 30 per cent of the power capacity involved in the country is based on Siemens technology. Post completion of the construction of the plants in Misrata and Tripoli West, it is expected that the ongoing challenges caused by frequent and unpredictable power cuts will be solved. GECOL is responsible for the transformational lines of energy and their distribution, the Electric control centres and the management of the operation and servicing of desalination stations in Libya.

 

 

 

GMR-Megawide submits $3b proposal for Manila airport expansion

 

GMR Megawide, which manages the Mactan-Cebu international airport in Philippines has submitted a `300 crore proposal for the decongestion and redevelopment of the Ninoy Aquino international airport in Manila. The revamp proposal includes increasing the capital city's airport's capacity to 950-1,000 aircraft movements a day from the present 730 movements and take the overall passenger handling capacity to 72 million per annum.

The second largest airport in the Pacific island nation— Mactan-Cebu international airport is operated by GMR Group. GMR is also developing the upcoming greenfield Goa international airport at Mopa through a public-private partnership model but is fully owned by the group. After the operations are taken over, there are plans to expand the existing terminals to double the space which will provide with an area of 7 lakh sqm for the terminal. Post completion, the terminal is expected to handle 72 million passengers annually.

 

 

 

Zensar Bags Multi-Year Contract from City of San Diego

 

Leading digital solutions and technology services company Zensar, has recently been awarded a four-year, multi-million dollar contract from the City of San Diego for network services. Reports suggest that there is an option of extending two additional two-year terms with the total not to exceed contract value being approximately $79 million. With this partnership, the aim is to make the City of San Diego more transparent and accountable while enhancing security-all at a lower cost for taxpayers. Zensar with its multiple projects will help modernize and improve the City’s network with new digital infrastructure to better serve the residents.

 




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