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

Gold futures end higher on Monday

Gold futures ended higher on Monday, marking its highest rate since late July due to increased safe haven investments amidst of crash in global equity markets and geo-political tensions. Meanwhile, weakness......

Nickel futures decline on muted demand

Nickel futures declined on MCX as participants cut down their bets amid muted demand from alloy-makers and other consuming industries at the spot market. The contract for October delivery was trading at......

Physical Rubber prices witness weakness on Monday

Physical Rubber prices showed weakness on Monday. Spot prices for RSS-4 variety fell to Rs 127.50/ kg compared to its previous closing of Rs 128/ kg; while the RSS-5 variety declined to Rs 122.50/ kg compared......

Top News

View all news

Shalimar Paints lays down foundation of Nashik manufacturing plant

Shalimar Paints has laid down the foundation of a manufacturing unit to be rebuilt in Nashik, in the state of Maharashtra. The company set to commence operations by April 2019 with a planned production......

Delta Corp reports 11% rise in Q2 consolidated net profit

Delta Corp has reported results for second quarter ended September 30, 2018.The company has reported over 2-fold jump in its net profit at Rs 63.51 crore for the quarter under review as compared to Rs......

PNB plans to sell non-core assets worth Rs 8,600 crore during FY19

Punjab National Bank (PNB) has recognized various assets, including its housing finance arm, for sale and hopes to realise Rs 8,600 crore from these non-core assets during the current fiscal. Meanwhile,......