The Ministry of Railways signed a formal Memorandum of Understanding (MoU) for setting up a Special Purpose Vehicle (SPV) namely ‘Railway Stations Development Corporation Limited’ to take up work of redevelopment of railway stations along with station maintenance across India in a dedicated manner.
Addressing the Invest Port Conclave organised by the Confederation of Indian Industry (CII), GK Vasan, Minister for Shipping, Government of India re-emphasised his ministry’s focus on fostering strong Public Private Partnership (PPP) not only to infuse funds in the sector and expand port capacity but also to improve management practices and seek modern and state-of the-art technologies.
Driven by outstanding execution and stronger global demand, Caterpillar Inc. delivered record-breaking 2011 sales and revenues of $60.138 billion, an increase of 41 per cent from $42.588 billion in 2010.
JCB India Ltd. proudly announced the opening of its new 3S integrated facility in Guwahati, Assam. The dealership is built by Oja Earthmovers, Guwahati. The new world class integrated 3S facility has 8-bay state-of-the-art facility.
Kobelco Cranes India Pvt. Ltd (KCI), a part of Kobelco Cranes Co., Ltd (KCL). Japan recently commenced the commercial production of its hydraulic crawler crane manufacturing plant in India.
Indian ceramics tile major Somany Ceramics entered into a manufacturing and distribution arrangement with the best ceramic tile manufacturers from Italy; IRIS Ceramiche and FMG (Fiorano Modenese-MO) of GranitiFiandre Group (Castellarano-RE). Consequent upon this deal, Somany will market products manufactured under the Active technology across India.
Vadodara based Sanghvi Forging & Engineering announced its unaudited financial results for the third quarter of FY12 after the company got listed in May 2011 last year. The company’s Q3 PAT stood at Rs.106.22 lacs as against Rs.125.17 lacs in the previous quarter and revenues stood at Rs.1380.58 lacs for the third quarter as against Rs.1233.92 lacs in the previous quarter, a jump of 11.89 per cent.
SAIL has announced its turnover for the first nine months of FY 12 that stood at
Rs. 35563.73 crore was 5 per cent higher than CPLY. Profits were impacted compared to CPLY, due to higher input costs and foreign exchange variations.
As part of its business strategy to grow in the home lifestyle solutions business, H&R Johnson (India), a division of Prism Cement Limited, announced its formal foray into the Engineered Marble & Quartz business with a new JV manufacturing unit at Rajkot, Gujarat.
