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27-Apr2018

Thermax, MOIL and Phoenix Mills to see some action today

Thermax Group has bagged a repeat order of Rs 279 crore from a leading public sector fertilizer company to set up their captive cogeneration plant at Trombay. The project is for a GTG (Gas Turbine Generator) - cum - HRSG (Heat Recovery Steam Generator) based cogen plant of SOMW capacity on an EPC basis. The scope of supply includes design, engineering, manufacturing, construction and commissioning of the cogeneration plant. The project is to be completed in 24 months.

MOIL has signed a Memorandum of Understanding (MoU) for FY 2018-19 with the Ministry of Steel. This is the 23rd consecutive year that MOIL has signed MoU with the Government of India. The MoU envisages an ambitious production target of 13.25 lakh tonnes (LT) of manganese ore and sets capex target of around Rs 200 crore, besides turnover and related financials, project implementation, R&D, customer satisfaction, human resource management, etc.

The Phoenix Mills has acquired entire share capital of Destiny Hospitality Services (DHSPL) comprising of 10,000 equity shares of Rs 10 each at par for a total consideration of Rs 1,00,000 on April 25, 2018. Subsequent to the above acquisition, DHSPL has become a wholly owned subsidiary of the company with effect from April 25, 2018. DHSPL will be engaged in the business of real estate development activities.

Loyal Equipments has received a Letter of Intent (LOI) from Dresser-Rand India of worth Rs 91.50 lakh for supply of Pressure Vessels & Heat Exchangers. Loyal Equipments is engaged in manufacturing and supplying of Coded Pressure Vessels & Heat Exchangers (Ferrous & Non Ferrous), Air Cooled Heat Exchangers, Skids for Dynamic and Static Machineries, Base-Plates, Sterilizers, Chimneys and Columns, Tanks & Receiver etc.

Tata Consultancy Services (TCS) has welcomed more than 200 new employees to its ranks in Plano, Texas, as part of its groundbreaking agreement with Transamerica to transform the administration of its U.S. insurance and annuity business lines. The company will occupy several floors of the Transamerica building at 2700 W Plano Parkway, as part of a multiyear agreement to rapidly enhance its digital capabilities, simplify the service of more than 10 million policies into an integrated modern platform, and drive growth opportunities through superior customer service.

Cyient Europe, UK, a step down subsidiary of Cyient, has signed a definitive agreement to acquire 100% equity in AnSem NV, Belgium, in an all cash transaction. This transaction will further allow Cyient to offer turnkey ICs, starting from concept circuit to final production. Cyient provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders.



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