Breaking News

You are here » Indian-Commodity  :  Top News  :  Triveni Engineering to incorporate wholly owned subsidiary

25-May2018

Triveni Engineering to incorporate wholly owned subsidiary

Triveni Engineering & Industries has received an approval to incorporate wholly owned subsidiary as a Special Purpose Vehicle (SPV) for implementation of a project/order for about Rs 438 crore awarded by the Yamuna Pollution Control Unit, U.P. Jal Nigam, Agra (UJN) to the company for 'Development of Sewage Treatment Plants and Associated Infrastructure on Hybrid Annuity PPP Basis at Mathura, Uttar Pradesh' under the Namami Gange Programme, in terms of the Letter of Award issued by the UJN. The Board of Directors of the company at its meeting held on May 24, 2018, approved the same.

The Board has also given an approval for setting up a molasses based 160 KLPD distillery at one of the sugar units of the company situated at Sabitgarh, District Bulandshahr, Uttar Pradesh, subject to receipt of necessary statutory clearances, and putting up an incineration boiler at the existing distillery at Muzaffarnagar, Uttar Pradesh, raising total distillation capacity to 320 KLPD at a total cost of about Rs 200 crore and advised to identify expansion in other businesses and augment financial resources by way of debts and internal accruals including monetization of unutilized financial/other assets.

Triveni Engineering & Industries is engaged in the business of manufacturing sugar, steam turbines and projects and engineering activities.


Related News

View all news

Turmeric futures trade higher on rising demand

Turmeric futures traded higher on NCDEX as market participants enlarged their holdings on account of rising demand for standing crop in the physical market. Moreover, government procurement in some states......

Coriander futures trade up on restricted arrivals

Coriander futures traded up on NCDEX as speculators built up fresh positions amid rising spot demand. Besides, tight stocks on account of restricted arrivals from major growing regions also fuelled the......

Cotton futures trade down on profit booking

Cotton futures traded down on MCX on profit booking after prices gained on reports of lower production in major growing regions. However, increased demand for crop from major cotton consumers, trimmed......

Top News

View all news

Quess Corp, Ashoka Buildcon and ICICI Bank to see some action today

Quess Corp's subsidiary Conneqt Business Solutions has signed definitive agreements to acquire a majority stake in Allsec Technologies. The transaction involves Conneqt purchasing 35.35% from the promoters,......

Quess Corp's arm to acquire majority stake in Allsec Technologies

Quess Corp's subsidiary -- Conneqt Business Solutions has signed definitive agreements to acquire a majority stake in Allsec Technologies. The transaction involves Conneqt purchasing 35.35% from the promoters,......

Ashoka Buildcon's JV receives LoA from Rail Vikas Nigam

Ashoka Buildcon's Joint Venture (JV) -- ABL-STS JV, wherein the Company is lead member, has received a Letter of Award (LoA) from Rail Vikas Nigam (RVNL). The accepted Bid Value of the Project is Rs 443.23......