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Indian-Commodity  :  Top News  :  RIL, Jet Airways and HDIL to see some action today

RIL, Jet Airways and HDIL to see some action today (21-Apr-2017)

Reliance Industries (RIL) is set to emerge as the second largest producer of Para-xylene (PX) in the world. The company is set to commission one of the largest and integrated Ethylene cracker in the world. The company is executing major projects in its energy and materials chain at Jamnagar covering Para-Xylene, Cracker complex along with downstream plants and Gasification. These projects will add significant value to Reliance's Refining & Petrochemical business and enable Jamnagar complex to achieve energy self-sufficiency. The benefits of integration at the Jamnagar complex will set a new paradigm of scale and value addition in the Refining and Petrochemicals industry.

Jet Airways has added two international flights -- Chennai-Paris and Bengaluru-Amsterdam -- in its network from October this year, the bookings for which commenced from April 20, 2017. The Bengaluru-Amsterdam service will be daily service while the Chennai-Paris flight five days a week. The proposed flights will commence operations from October 29 this year. The new services will be operated by the wide-bodied Airbus A330 aircraft.

Housing Development and Infrastructure (HDIL) has launched a new project 'The Nest' at Mulund, Mumbai, under the affordable housing brand 'Budget Homes', having 263 units open for sale in phase 1 of the project. Earlier in March, the company had received an approval for divesting its 100% shareholding of its wholly owned subsidiary company 'Excel Arcade'. The Finance Committee of the board at its meeting held on March 4, 2017, had approved for the same.

SpiceJet will soon offer in-flight entertainment services wherein passengers can shop and stream movies during the flights. In this regard, a Letter of Intent (LoI) has been signed with Lufthansa Systems and the services are expected to be available for the fliers this year. Lufthansa Systems would equip SpiceJet planes with BoardConnect Portable -- a Mobile Streaming Unit (MSU). The new service would allow passengers to do shopping, stream movies, cricket and other content from select platforms offered by the airline.

Spice Mobility's step-down subsidiary - S Global Services, has incorporated 'Spice Digital FZCO', a 100% foreign subsidiary, in Dubai Airport Free Zone, for undertaking the business relating to Software Consultancy and IT related activities. Consequently, Spice Digital FZCO has also become a step down foreign subsidiary of the company. S Global Services is a foreign subsidiary of Spice Digital, which in-turn is a subsidiary of Spice Mobility.

Suzlon Group has won a fifth successive order from ReNew Power Ventures (ReNew Power) for its 100.80 MW wind power project. Suzlon will install 48 units of their latest S111 120m wind turbine generators (WIG) with a capacity of 2.1MW in ReNew Power's Limbwas project in Madhya Pradesh. Suzlon will provide a comprehensive range of services including operation and maintenance services and dedicated life-cycle asset management services for an initial period of 10 years. This turnkey project for Suzlon is scheduled to be completed by March 2018. The project has the potential to provide power to over 54,000 households and reduce 0.20 million tonnes of CO2 emissions per annum.




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