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Wärtsilä to offer Energy Storage Solutions in India
Wärtsilä, a leading global supplier of flexible and efficient energy solutions, will offer technically and environmentally advanced energy storage solutions to the power markets in India. Following the acquisition in May 2017 of Greensmith Energy Management Systems Inc., a market leader in grid-scale energy storage software and integrated solutions, Wärtsilä Energy Solutions has become a leading g READ MORE.....
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TN Govt. inks deal to procure solar power at `3.47 per unit
The Tamil Nadu Government has decided to procure 1500 MW of solar power from 16 companies that have invested around `9,000-crore in the State, at a fixed price of `3.47 per unit. According to industry sources, this price is far below the price prevailing in February this year, though the tariff of `3.47 is well above the lowest solar bid in the country so far of `2.44 per unit, made at an auction  READ MORE.....
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Tata Power signs MoU with CBIP to bridge skill-gap in power sector
Tata Power has signed a Memorandum of Understanding (MoU) with the Central Board of Irrigation and Power (CBIP) to co-create, develop, and impart training and skill-development courses to the youth as well as employees of the power sector. CBIP runs a Centre of Excellence for skill development in the power sector, while Tata Power has set up five training hubs in five locations in the country, whi READ MORE.....
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Govt. asks steelmakers to cut prices, stop “exploiting” country
Even as the government has imposed a restriction on imports of cheaper steel to boost demand for locally made steel, the government has asked local steelmakers to make efforts to keep prices below `40,000 per tonne as it cannot permit them to “exploit the country”. “The best range for domestic price is between `35,000-`40,000 per tonne. If it goes beyond that, then yes, we will be checking. As the READ MORE.....
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Govt. asks steelmakers to cut prices, stop “exploiting” country
Even as the government has imposed a restriction on imports of cheaper steel to boost demand for locally made steel, the government has asked local steelmakers to make efforts to keep prices below `40,000 per tonne as it cannot permit them to “exploit the country”. “The best range for domestic price is between `35,000-`40,000 per tonne. If it goes beyond that, then yes, we will be checking. As the READ MORE.....
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SREI group, CBL Corp. ink pact
Srei Group and CBL Corporation have signed an MoU to explore offering Surety and Guarantee bonds in India.

Srei Group, part of the Kanoria Foundation, and New Zealand’s CBL Corporation Limited (CBL) have entered into an MOU with the intent to form a first-of-its-kind 50:50 joint venture company offering surety and guarantee bonds in India. The joint venture company will offer perfor READ MORE.....
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SNIPPETS
Recent data from the Centre for Monitoring Indian Economy Pvt. Ltd (CMIE) shows that the value of stalled infrastructure projects in the quarter ended September increased to `13.22-trillion. The number increased for the fifth straight quarter and accounts more than 13 percent of total projects under implementation.

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JSW Steel gets clearanc READ MORE.....
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L&T, Tata Power amongst 40 companies eyeing smart meters market
Leading Indian and foreign companies including Larsen & Toubro, Tata Power, Vodafone, TCS, Tech Mahindra, and France’s EDF are eyeing government’s purchase of 50 lakh smart meters. This will give them access to big data on power consumption and create a market for 50 lakh SIM cards for connecting the devices. Forty companies, which also include equipment makers and trade bodies, have recently  READ MORE.....
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Tough going for M&HCVs, Buses while LCVs register growth
According to the latest data released by the Society of Indian Automobile Manufacturers, the Auto industry as a whole produced a total 14,675,828 vehicles, which include passenger vehicles, commercial vehicles, three wheelers, two wheelers and quadricycle in April-September 2017 as against 13,441,520 in April-September 2016, registering a growth of 9.18 percent over the same period last year. On t READ MORE.....
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Shriram EPC bags multiple orders worth `349-crore
- `311-crore order from Bihar Urban Infrastructure Development Corporation Ltd.
- `38-crore order from Karnataka Urban Infrastructure Development and Finance Corporation Ltd.

Shriram EPC Limited (SEPC) has announced that it has won multiple orders aggregating to `349-crore. The first order – amounting to `311-crore from Bihar Urban Infrastructure Development Corporation Ltd.  READ MORE.....
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Pricol teams up with Wenzhou Huirun for fuel pumps
Pricol has entered into an exclusive agreement with Wenzhou Huirun Electrical Machinery for technical collaboration and supply and production of fuel pumps and fuel pump modules in India. Through this strategic agreement, it intends to further strengthen its automotive pump portfolio in India. It will now become a comprehensive supplier of fuel pump module required for electronic fuel injection sy READ MORE.....
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PNC Infratech declared L1 for NHAI road project in UP
PNC Infratech Limited has been declared the L1 lowest bidder for NHAI project of 145 km long six laning of Chakeri to Allahabad section of NH-2 in Uttar Pradesh. The project is to be executed on Hybrid Annuity Mode for a bid project cost of `2,159-cr. This is the fifth hybrid annuity project won by PNC having a construction period of 2.5 years and operation period of 15 years.

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Nalco bets big on Renewable energy
Betting big on renewable energy to meet its rising power requirements, National Aluminium Company (Nalco) has recently commissioned its wind power plants with 50 MW and 50.4 MW capacities in Rajasthan and Maharastra, respectively, at a cost of `669-crore. The company plans to set up another wind power plant of 50 MW capacity and is looking at suitable location in the country. Techno-commercial bid READ MORE.....
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Pvt. Equity Investors join the fray for stake in Monnet Ispat
With a raft of private equity investors, including Blackstone, joining the race to control stake in Monnet Ispat, the troubled steelmaker, Tata Steel and JSW Steel are finding it tougher than anticipated. Monnet Ispat is in bankruptcy courts for loan defaults. US-based TPG, Blackstone, and Singapore-based SSG Capital are believed to be among the likely bidders that have sent formal expressions of  READ MORE.....
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MMTC in talks with NMDC for exports to South Korea, Japan
State-run Metals and Minerals Trading Corporation of India (MMTC) Ltd. has initiated dialogue with leading iron ore producer National Mineral Development Corporation (NMDC) for exports of the commodity to South Korea and Japan. MMTC is looking at a five-year agreement with NMDC for a supply of 2.6 million tonnes of iron ore each year.
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LTTS set up dedicated design centre for Vestas
L&T Technology Services has announced the formal establishment of a design centre in Chennai, dedicated for Vestas, the leader in the development, manufacturing, sale and maintenance of wind power plants. The dedicated development centre will facilitate cost-effective engineering solutions and focus on solutions in areas like Energy Storage, Hybrid Energy and Smart products.
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L&T bags major pipeline contract in Kuwait
Larsen & Toubro has announced that the Company’s Hydrocarbon Division has bagged a major pipeline contract with a value of close to `1700-crore from Kuwait Oil Company for engineering, procurement and construction of a new 48” crude transit line (TL-5) from North Kuwait to Ahmadi. The completion of the project is scheduled in the third quarter of 2020.
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L&T Hydrocarbon Engg. bags offshore contract from ONGC
L&T Hydrocarbon Engineering has bagged an offshore contract from ONGC for Transport and Installation at Daman Development Project. This was stated by the company in a filing made to the BSE. The contract is approximately valued at `1,150-crore. The project is a part of ONGC’s strategy to extract gas from Daman Field.
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IndiGrid approves acquisition of three power transmission assets
Key Highlights:
-  IndiGrid’s AUM will increase by 40 percent post these acquisitions.
-  Annualized distribution will increase by 4.0 percent from `11.00 to `11.44 per unit.
-  The implied yield will increase from 11.6* percent to 12.1* percent (*based on `94.93/unit closing price of 6 October 2017).

IndiGrid, India’s first Infrastructure Investm READ MORE.....
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Lenders worried as port contracts worth thousands of crores may run aground
Lenders have more cause to worry as a rigid regulatory framework and market dynamics are threatening to run aground contracts worth thousands of crores of rupees at public-private-partnership (PPP) projects at India’s major ports or those owned by the Centre. Thirty-three PPP projects with an investment of `17,818-crore are operational, while 20 more projects worth `22,363-crore are under implemen READ MORE.....
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