SJVN to set up 1,000 MW grid-connected solar power project

Satluj Jal Vidyut Nigam (SJVN) has secured a contract to set up a 1,000 megawatt (MW) grid-connected solar power project through the bids floated by the Indian Renewable Energy Development Agency (IREDA). The tentative cost for the construction and development of the project is Rs 5,500 crore. It is expected to generate 2,365 million units (MU) of power in the first year. The power generated from the project will be solely for self-use or use by government entities, either directly or through power distribution companies (DISCOMs).

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Zydus Cadila signs pact with Shilpa Medicare to manufacture ZyCoV-D vaccine

Cadila Healthcare Ltd has entered into a definitive agreement with Shilpa Medicare to manufacture its Covid-19 vaccine ZyCoV-D. Shilpa Medicare will produce and supply the vaccine from its integrated biologics R&D cum manufacturing center at Dharwad, Karnataka. India’s drug regulator had given emergency use authorisation for Cadila’s ZyCoV-D on August 20. It is the world’s first DNA plasmid vaccine that can be administered to adults and children aged 12 years and above.

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NBCC secures Rs 968 crore contract to construct 2,000 flats in the Maldives

State-owned NBCC Limited has secured a contract worth Rs 968.5 crore for the construction of 2,000 social housing units in the Maldives. This project is NBCC’s biggest-ever order in the overseas market. A loan agreement was signed between Fahi Dhiriulhun Corporation Limited (FDC) and Exim Bank of India for financing the project. The project covers over 7.2 acres of land across seven plots.

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Caplin Point Labs’s CRO arm completes USFDA audit with zero observations

The US Food & Drug Administration (USFDA) had completed a virtual audit of Caplin Point Laboratories’ clinical research organisation (CRO) division. The audit ended with zero observations. The pharma company said it is committed to maintaining the highest standards of quality and compliance at all its units. The CRO division, Amaris Clinical, performs clinical studies for submissions to various regulators.

Ircon International to set up 500 MW solar power plant

Ircon International Ltd has won a bid to set up a 500 megawatt (MW) solar power plant through an e-reverse auction under the Central Public Sector Undertaking (CPSU) Scheme-II floated by the Indian Renewable Energy Development Agency (IREDA). The approximate cost of the project is Rs 2,400 crore. State-owned Ircon International is a railway infrastructure company.

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IIFL Finance to raise up to Rs 1,000 crore via bonds

IIFL Finance Ltd will open a public issue of secured bonds on September 27 to raise up to Rs 1,000 crore. It will utilise the funds for business growth and capital augmentation. The bonds offer a yield of up to 8.5% per annum and a high degree of safety. The company will issue secured and redeemable non-convertible debentures (NCDs) aggregating to Rs 100 crore, with a greenshoe option to retain an over-subscription up to Rs 900 crore.

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Global oil and gas investment will be 30% below pre-Covid level: ONGC

Global investment in the upstream oil and gas sector this year will be around 30% below pre-Covid levels according to Oil and Natural Gas Corp (ONGC) Chairman Subhash Kumar. He also stated that industry outlooks expect India’s energy demand to double by 2050 with strong growth in natural gas. Meanwhile, ONGC has started gas production from the second deep-water well in its KG basin block in the Bay of Bengal.

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Auriopro launches ‘AuroPay’ platform to offer wide range of services in payment ecosystem

Aurionpro Solutions Ltd has expanded its footprint in the payment business by launching a payment platform. The company has incorporated Aurionpro Payments Pte Ltd (APPL) as a subsidiary in Singapore. APPL has unveiled ‘AuroPay’, an innovative payment platform that offers secure online payment services. The platform will provide gateway services to merchant organizations and become a one-stop shop covering a wide range of services in the payment ecosystem.

CCI fines United Breweries, Carlsberg in beer price-fixing case

The Competition Commission of India (CCI) has imposed a penalty of Rs 750 crore on United Breweries Ltd. and Rs 120 crore on Carlsberg India for indulging in cartelisation in the sale and supply of beer in the country. The two companies and SABMiller India engaged in price coordination and supply restrictions of beer between 2009 and 2018. CCI has also directed the companies, All India Brewers’ Association (AIBA), and various individuals to “cease and desist” from anti-competitive practices in the future.

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At the recent United Nations Climate Change Conference at Glasgow (COP26), India pledged to achieve net-zero carbon emissions by 2070. The Centre has committed to installing a non-fossil fuel electricity generation capacity of 500 gigawatts (GW) and sourcing 50% of India’s energy requirement from renewable sources by 2030. The government also aims to reduce 1 […]