Kernex Microsystems India Ltd has informed that it has won a bid for a contract, which is valued at US$ 16.05 million from an Egypt-based firm.

In the month of May, the company participated as prime bidder in a bid for execution of 136 Level Crossing developments for Egyptian National Railways (ENR).

The company received a communication from its local representative in Egypt, reporting that Kernex has won the bid. However on receiving the official intimation from ENR, the contract will be signed.

All local infrastructure companies would be allowed to borrow international funds and spend those funds in India. The finance ministry has recommended five fold increases in international funds from $100 million to $500 million. The companies which are working in infrastructure activities such as roads, ports, power plants, telecom infrastructure building activities can avail the opportunity for their respective business expansion. The government has fixed a minimum average maturity of 7 years for funds above $100 million.

Hyderabad-based Maytas Infra Ltd has secured two orders worth Rs 480.67 crore for electrification of Beed and Nanded districts of Lathur Zone, and Ahmednagar district of Nashik Zone from MSEDCL under ‘Infrastructure Development Plan’.

The company has bagged first order worth Rs 214.77 crore, from MSEDCL under Mahavitaran, Infra Plan in Beed & Nanded Districts of Lathur Zone.

While, the second order, valued at Rs 265.9 crore has been picked from MSEDCL under Mahavitaran, Infra Plan in Ahmed Nagar District of Nasik Zone.

Punj Lloyd Upstream Ltd, a subsidiary of Indian engineering, procurement and construction major Punj Lloyd Ltd, has informed that it has received a Letter of Intent (LoI) from Waha Oil Company, Libya.

Under the arrangement, the company will execute a contract, which is valued at approx US$ 42 million, for drilling exploratory wells in the Gialo oilfield of the prolific Sirte Basin.

Waha Oil Co. is a joint venture between State-owned National Oil Company, Conoco Philips, Amerada Hess Corp. and Marathon Corp, which is the second largest crude oil producer in Libya.

Anil Dhirubhai Ambani Group company  Reliance Infrastructure has revealed its plan to invest Rs 400 billion to set up a steel plant with a capacity of 12 million tonnes in the eastern state of Jharkhand.

While commenting on the plan, Mr. K.K. Khandelwal, industry secretary of the Jharkhand state government, stated, “We have received the proposal from Anil Ambani Group. It is still under process.”

Reliance Infrastructure, formerly known as Reliance Energy, participates in telecoms, financial services, power and infrastructure, engineering and construction businesses.

GMR Energy, unit of GMR Infrastructure, plans investment of over Rs 10,000 crore to set up a 2,000 - 3,000 MW nuclear power plant in the country within 5-7 years.

For the foray, the company has already hired experienced people including former chairman and managing director MD MR Srinivasan.

Within six months to one year, the company expects to come up with a broad plan in place.

The company is in talks with equipment and fuel suppliers in France, United States and Korea.

Also, Executive vice-president Avinash R Shah of the company, said, "We have held talks with equipment as well as fuel suppliers and will firm up a plan in the next one year."