Satyam, Mahalakshmi consortium wins bid for largest coal reserve in NE

06 Mar 2023 CW Team

Consortium of Satyam and Mahalakshmi Group won the auction of largest coal reserve of Northeast India at Nampuk Namchik in Arunachal Pradesh. The consortium stated in the recent auction of North East's largest coal mine located at Nampuk Namchik in Arunachal Pradesh, two major industrial groups of eastern India, Satyam Group and Mahalakshmi Group won the auction.

This has now paved the way for legal coal mining and transportation in Northeast India. Last year the auction of most of the coal mines across the country was completed and coal mining also started. But due to various technical reasons, the auction of the Nampuk Namchik coal mine could not take place. This coal mine was completed again this month and companies from all over the country were bidding.

The consortium stated that this time the auction rate of the mine here was kept 55 per cent above the base price. The consortium of these two groups won by bidding 65 per cent. “With the resumption of this coal mining worth hundreds of crores every year, the new development will take place in the Northeast. Not only will the industry get a boost in the Northeast, but the way for legal coal mining will open and the government will get huge revenue”. Illegal coal mining and its transportation has been a major problem in the Northeast.

The consortium stated, “But with the commencement of mining from the biggest coal mine of the Northeast, many avenues will open up. This will not only improve the economic condition of the North East, but also increase employment opportunities on a large scale and accelerate business activities”.

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..