GAIL (India), Rail Vikas Nigam and PTC Industries to see some action today

GAIL (India) is planning to set up 1500 KTA Ethane Cracker Project at an investment of around Rs 60,000 crore in Madhya Pradesh, having product slate of various ethylene derivatives. GAIL has submitted its request to the Madhya Pradesh State Government for providing suitable enablers for the project. Around 800 hectares of land shall be provided by the MP Industrial Development Corporation, for which state government has already initiated the process. Investment approval from GAIL's Board shall be sought after favourable outcome on enablers.  

Rail Vikas Nigam has emerged as the Lowest Bidder (L1) from Central Railway for ‘OHE modification work for Up-gradation of existing 1 x 25 kV Electric Traction System to 2 x 25 kV AT Feeding System in Amla-Nagpur Section in Nagpur division of Central Railway to meet 3000 MT loading target.’

PTC Industries has entered into partnership with leading entities under DTIS scheme in the Indian Defence and Aerospace sector to advance the 'Make in India' initiative. To overcome the challenge of expensive, state-of-the-art testing infrastructure, a Green Field Defence Testing Facility is being established in the Lucknow Node of the UP Defence Industrial Corridor under the DTIS scheme. This facility, named ‘Advanced Materials (Defence) Testing Foundation’ is a collaborative effort among key industry players including Hindustan Aeronautics, Bharat Dynamics, Mishra Dhatu Nigam, Yantra India, PTC Industries and Uttar Pradesh Expressways Industrial Development Authority, with the land being provided by the Uttar Pradesh Expressway Industrial Development Authority. The Government of India will fund 75% of the project cost, with the remaining 25% funded by the SPV members, totalling an approximate cost of Rs 53 crore.

H.G. Solar Projects, a wholly-owned subsidiary of H.G. Infra Engineering, has incorporated a wholly owned subsidiary, namely H.G. Jaipur Solar Project. H.G. Jaipur Solar Project will carry out business in the field of Solar Power. 

JBM Auto’s subsidiary -- JBM Electric Vehicles has signed an agreement with MUON India, a Macquarie Group company. Macquarie Group has launched an EV financing platform for India called ‘Vertelo’ which will offer Financing, Fleet Management and Charging Infrastructure Solutions. Under this agreement, the company intends to deploy over 2,000 electric buses (9 mtr, 12 mtr & other variants) with MUON, over the next couple of years. 

Fischer Medical Ventures (formerly known as Fischer Chemic) with its wholly owned subsidiary - Time Medical International Ventures (India) has entered into partnership with BluSim Tech to redefine elderly care. This partnership is aimed at revolutionizing nursing home care globally. Fischer Medical Ventures, renowned for being the first company through its wholly owned subsidiary Time Medical International Ventures (India) to indigenously manufacture advanced high quality, cost-efficient Magnetic Resonance Imaging (MRI) systems in India, continues to spearhead innovation in the MedTech industry. Apart from medical imaging, Fischer Medical Ventures strategically invests into a portfolio of high-tech diagnostic solutions. 

InterGlobe Aviation (IndiGo) is doubling flights from Delhi to Almaty and Tbilisi starting on August 16, 2024, and to Tashkent starting on August 17, 2024, owing to the growing demand for international travel this year. The airline will then operate daily flights from Tashkent, Almaty, and Tbilisi, up from the previous schedule of 4 flights per week to Tashkent and 3 flights per week to Almaty and Tbilisi.