IGX Completes First Long Duration Gas Contract

11 Apr 2025 CW Team

After delivering gas to the Hazira ONGC delivery point for three months (from May to July 2025), the Indian Gas Exchange (IGX) has successfully completed its first long duration contract (LDC). These contracts were launched at the start of 2025 after they received approval from the Petroleum and Natural Gas Regulatory Board (PNGRB).

LDCs are designed for a 3–6-month duration and are aimed at providing buyers a price for natural gas determined by the Platts West India Marker (WIM). Platts WIM is the daily benchmark price assessment for LNG cargoes delivered internationally and is being used to try and link domestic gas prices to those of global ones.

IGX plans to use these contracts to cement themselves as a leading player in India’s gas trading industry. As Rajesh Mediratta, MD and CEO of IGX, said, “The conclusion of our first LDC marks a key milestone for IGX… The commencement of LDC is another step towards deepening our gas market.”

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..