Seamec Wins ONGC Vessel Charter Contract

16 Dec 2025 CW Team

Seamec shares rose 2.90 per cent to Rs 1,042.85 after the company, through its subcontractor G R Infraprojects, secured a contract from Oil and Natural Gas Corporation for the charter hire of its vessel Seamec III.

The vessel will be deployed for second-season subsea installation and diving works under the part replacement pipeline project (PRP-VIII A) and the DSF II project. The lump-sum subcontract has a tenure of 150 days and is valued at about $16.72 million, excluding GST. The order was awarded by a domestic entity in the normal course of business, with no promoter interest involved, and does not qualify as a related-party transaction.

Seamec operates across two verticals within the shipping sector—offshore support vessels and services, and bulk carrier chartering. The company owns six vessels and one barge in its offshore support business, with deployments across domestic and international markets.

G R Infraprojects, which is executing the subcontract, is engaged in infrastructure development on engineering, procurement and construction as well as build, operate and transfer models. Shares of G R Infraprojects rose 0.75 per cent to Rs 1,011.20 on the BSE.

Maharatna PSU Oil and Natural Gas Corporation is India’s largest crude oil and natural gas producer, contributing about 71 per cent of domestic output. The Government of India held a 58.89 per cent stake in ONGC as of September 30, 2025. ONGC shares closed 0.38 per cent higher at Rs 239.38 on the BSE.

Infrastructure Urban

12 Jan 2026

Powerplay Rolls Out Procurement-Linked Credit for Contractors

Powerplay has announced the launch of Powerplay Credit, a project-linked working capital solution aimed at easing cash flow pressures faced by contractors during active construction execution. The solution has gone live across key markets in South India, with a wider national rollout planned for 2026.The launch comes amid rising activity in India’s construction sector across infrastructure, housing, industrial corridors, renewable energy and urban redevelopment. Contractors executing large corporate and government projects often face extended payment cycles, stage-based billing and delayed r..

Jyoti Structures Commissions Galvanisation at Second Nashik Unit

Jyoti Structures has commissioned galvanisation operations at its second tower manufacturing unit in Nashik, strengthening its in-house capabilities across critical stages of power transmission infrastructure production. The listed Engineering, Procurement and Construction (EPC) company operates globally and has delivered projects for customers across more than 50 countries.The second Nashik unit, with an annual manufacturing capacity of 36,000 metric tonnes, has become operational following the completion of installation, testing and readiness of the new galvanising facilities. With this deve..

Rosatom Connects First Kursk NPP-2 Unit to National Grid

Rosatom has launched the first power unit of the Kursk Nuclear Power Plant-2 (Kursk NPP-2) into Russia’s Unified Energy System, marking a key milestone in the country’s nuclear energy programme. The initial grid connection took place at the end of the year, bringing a new source of low-carbon electricity online for the Kursk region and the broader Central Energy System.The newly commissioned unit is the first implementation of the VVER-TOI reactor design, which incorporates advanced safety and performance features. With an installed capacity of 1,250 MW, it is the most powerful nuclear pow..