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International Ticker October 2024

Engineering giant Larsen & Toubro (L&T) has secured a major order from its Power Transmission and Distribution (PT&D) division in West Asia, valued between Rs.10,000 crore and Rs.15,000 crore. The projects focus on expanding and strengthening high-voltage electricity grids in the region.

L&T will play a key role in Saudi Arabia’s national electricity network by establishing ±500kV high-voltage direct current (HVDC) transmission links. These links will connect various operating regions, enabling power exchange and improving system resilience.

In addition, the company has won contracts for three more packages, which include the construction of two 380kV overhead transmission lines and a 380kV gas-insulated substation. These projects will support the integration of renewable energy and reinforce the grid infrastructure. In Abu Dhabi, L&T has also been awarded a contract to build two major 400kV gas-insulated substations. These projects, which include advanced electrical systems and integration with the load dispatch centre, will boost the power transfer capacity of the region’s electricity grid.


Etihad Rail, the developer and operator of the UAE National Rail Network, has signed a Memorandum of Understanding (MoU) with RITES, a transport infrastructure consultant, to explore collaboration on railway and related infrastructure projects in the UAE and its surrounding regions. The agreement was formalized on Wednesday by Shadi Malak, CEO of Etihad Rail, and Rahul Mithal, Chairman and Managing Director of RITES. The partnership aims to leverage the strengths of both organizations to identify opportunities in rolling stock supply and leasing, rolling stock repair, consulting, and project management for various railway initiatives. Rahul Mithal expressed enthusiasm for the collaboration, stating, “This strategic collaboration with Etihad Rail underscores our strengths and commitment to operational excellence and innovation, while contributing to sustainable infrastructure development. It represents a significant advancement in our strategic initiative of ‘RITES Videsh,’ aimed at expanding our global services. Together, we are laying the foundation to significantly enhance connectivity and set new benchmarks of excellence in the industry.”

The MoU also includes plans for a capacity analysis of rail corridors in the UAE and nearby regions to improve trade routes, streamline logistics, and enhance overall efficiency. The two parties will explore advanced IT solutions for train operations and passenger management, focusing on innovation and modern maintenance procedures. Shadi Malak highlighted the importance of the partnership, stating, “This strategic partnership with RITES marks a significant step towards our vision of enhancing connectivity and transforming the transportation landscape in the UAE. Guided by the vision and support of our wise leadership, we will leverage our combined expertise to modernize and improve the efficiency of the UAE National Railway Network. Through this collaboration, we aim to create forward-thinking, innovative solutions that benefit both our freight services and future passenger services, contributing to the overall infrastructure and operational excellence of the region.”


Essar Energy Transition (EET) plans to transform the UK’s Stanlow refinery into the world’s first decarbonized green refinery, utilizing blue hydrogen for heating and power needs, according to Essar Capital Director Prashant Ruia. Speaking at the Financial Times Energy Transition Summit in India, Ruia outlined the ambitious project, which is part of EET’s broader HyNet initiative.

The HyNet project recently secured $650 million in funding and will produce 350 megawatts (MW) of blue hydrogen in its first phase, with plans to expand to 1 gigawatt (GW) in the second phase. This hydrogen will help the refinery decarbonize 95% of its carbon dioxide emissions from processing crude oil into fuels like petrol and diesel.

EET is committing $1.2 billion over the next five years to decarbonize its operations, aiming to reduce emissions by 95% by 2030 through energy efficiency measures, carbon capture, and fuel switching. These efforts are expected to cut the North West’s overall regional carbon emissions by 12.5%.

The use of blue hydrogen at Stanlow could reduce up to 2.5 million tonnes of CO2 emissions annually—equivalent to taking 1.1 million cars off the road.

Ruia emphasized the significance of the project: “Using hydrogen for the refinery’s heating and power needs will be a global first.”

This announcement follows the UK government’s pledge of £21.7 billion over 25 years to support the construction of two carbon capture clusters in northern England, including blue hydrogen projects at the HyNet hub in Merseyside and the East Coast Cluster in Teesside. These projects aim to store more than 8.5 million tonnes of carbon dioxide annually under the Irish Sea and North Sea.

EET’s HyNet project is central to these efforts, positioning Stanlow as a pioneer in the global energy transition.


Anil Ambani-led Reliance Group has signed a strategic partnership with Bhutan’s Druk Holding and Investments (DHI), the commercial arm of the Royal Government of Bhutan, to boost renewable and green energy investments in the country. The collaboration will focus on green energy initiatives, including solar and hydropower projects, as well as exploring advanced green technologies.

As part of the agreement, Reliance Group has launched a new company, Reliance Enterprises, aimed at driving investments in Bhutan’s renewable energy sector. Backed by Reliance Infrastructure and Reliance Power, Reliance Enterprises will focus on sustainable energy solutions and the implementation of smart distribution systems across Bhutan.

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