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REC inks loan pact with DVC for thermal power project in West Bengal
DVC, a public sector undertaking under the Ministry of Power (MoP), caters to the energy needs of the eastern region of the country.The Phase-II project, a collaborative effort between REC and DVC, will contribute considerably to the power generation capacity in West Bengal.68 crore to DVC for setting up a 1,320 MW thermal power project (2x660 MW) at Raghunathpur in West Bengal.REC has entered into a pact with Damodar Valley Corporation (DVC), under which REC will provide a loan of Rs 4,527.REC is an NBFC focusing on power sector financing, provides financial assistance to state electricity boards, power utilities and others across generation, transmission, distribution and renewable energy projects.

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🇮🇳 India · 🗓️ August 29, 2023 · Construction

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Nod granted to 12 new units to come up in Visakhapatnam SEZ
The units will be engaged in strategy services and managed IT services, IT design and development services, repair, maintenance and overhaul (RMO) services of mobiles and software development, and others.The three units in Andhra Pradesh are Advait Biofuels for manufacturing biodiesel, Biocon and Granules CZRO for manufacture of pharmaceutical products, and will come up in the combined Visakhapatnam district.VSEZ’s head office located at Duvvada in Visakhapatnam, caters to the export-oriented units in Chhattisgarh and Yanam, apart from Andhra Pradesh and Telangana.The products are related to information technology (IT) and information technology-enabled services (ITeS).Among the nine units in Telangana are Purview India Consulting and Services, Sigmasoft Infotech, Inspire Brands Global Innovation Centre India, FedEx Express Transportation and Supply Chain Services (India) and others.

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🇮🇳 India · 🗓️ August 29, 2023 · Construction

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Nisus Finance, Phoenix ARC invest nearly Rs 100 cr in Ahmedabad commercial project
This is the first instance of a joint investment by Nisus BCD and Phoenix ARC in the same transaction.The investment will help Nisus Finance and Phoenix ARC take over the project and exit the loans of the erstwhile lender DHFL through Piramal Capital & Housing Finance.Nearly 80% of the project is complete and has all approvals in place, with balance construction is on and the project delivery is scheduled within 12 months.The group owns several land parcels across key cities of Gujarat and is foraying into the Mumbai market.Nisus has recently launched the RESO-I fund with a corpus of Rs 700 crore.

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🇮🇳 India · 🗓️ August 29, 2023 · Construction

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HDFC Capital, Abhinandan Lodha Group ink JV to invest Rs 1,500 crore in low-rise projects
The development platform with HDFC Capital is looking to deepen the presence in the existing regions and will also deploy capital by exploring more property markets.HDFC Capital, a subsidiary of HDFC Bank, is the real estate private equity arm of HDFC Group.HDFC Capital Advisors will be investing in this new platform through HDFC Capital Affordable Real Estate Fund-3 and the Investment is expected to result in a gross development value (GDV) of over Rs 4,500 crores.This has resulted in an upsurge in plotted development and holiday home projects in peripheral areas of tier I cities and scenic locations in proximity to metro cities.Earlier this year, HoABL had announced its plan to invest over Rs 11,000 crore to acquire and develop land parcels across the country over the next 3-4 years in a bid to capture the rising demand for plotted developments and land investments.

🇮🇳 India · 🗓️ August 29, 2023 · Construction

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AI-integrated battery production unit coming up in Karnataka
The work of this unit is likely to be completed in a year.Tecchren Batteries, a subsidiary of Tecchren, will contribute to ‘Make in India’ programme, as it will introduce the most advanced technologies to produce various types of EV and storage batteries.Tecchren Batteries will invest Rs 500 crore and create jobs for 200 people in the first phase.The unit spanning 40,000 sq mtrs.The proposed production line is environment-friendly and can produce 100 percent recyclable and AI-based smart batteries.

🔗Projects Today

🇮🇳 India · 🗓️ August 29, 2023 · Construction

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