Infrastructure Sector

IVRCL Infra bags order worth Rs 418 crore

IVRCL Infra bags order worth Rs 418 crore

L&T unit bags order worth Rs 5000 crore in Q2 of FY08-09

L&T unit bags order worth Rs 5000 crore in Q2 of FY08-09Larsen and Toubro (L&T), India's largest engineering and construction conglomerate, has notified that its newly formed Buildings & Factories Operating Company, which is a part of its Construction Vertical has bagged several large-value orders aggregating to around Rs 5000 crore in the second quarter of 2008-09.

The scope of work involves construction of a slew of institutional, commercial, residential and factory buildings.

Kernex Microsystems wins contract worth $ 16.05 million from Egypt-based firm

Kernex Microsystems wins contract worth $ 16.05 million from Egypt-based firmKernex 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.

Norms Relaxed For Infrastructure Firms For International Borrowing

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.

Maytas Infra secures two prestigious orders worth Rs 481 crore

Maytas Infra LtdHyderabad-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 arm gets LoI for $42 million contract

Punj Lloyd Upstream LtdPunj 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.

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