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Indian Coast Guard, Hindalco tie-up for indigenous shipbuilding materials
The Defence Ministry announced a strategic collaboration between the Indian Coast Guard (ICG) and Hindalco Industries, a leading industry group, aimed at bolstering the country's maritime capabilities. Through a Memorandum of Understanding (MoU) signed in New Delhi, the two entities agreed to facilitate the manufacturing and supply of indigenous marine-grade aluminium to both public and private shipyards across India for ship construction projects.
This collaboration holds significant implications for enhancing domestic shipbuilding capabilities, as it ensures a reliable and consistent ..
Petrobras loads Reliance diesel post delay
According to shiptracking data and trade sources, it was reported that Brazilian energy major Petrobras had loaded diesel from India onto a Suezmax crude oil tanker after experiencing a month-long delay. This marked the first such shipment from India in over a year, amidst fluctuating freight rates for clean product tankers.
It was mentioned by the sources that the conversion of a crude oil tanker to transport clean products allowed Petrobras to transport larger quantities of diesel from Asia at reduced expenses. Additionally, the sources noted that Asian sellers were also exploring d..
ADIA, KKR Book $1.5B Space in Reliance Retail Warehouse
The Abu Dhabi Investment Authority (ADIA) and global investment firm KKR have announced a landmark investment of $1.5 billion in leasing warehousing space from Reliance Retail, a subsidiary of Reliance Industries Limited. This strategic collaboration between ADIA, KKR, and Reliance Retail marks a significant milestone in the logistics and retail sectors, underscoring the importance of robust supply chain infrastructure in facilitating the growth of the retail industry.
With this substantial investment, ADIA and KKR are positioning themselves as key players in supporting Reliance Retail..
Jindal Steel & Power's Q4 Profit After Tax Doubles to Rs 9.33 Bn
Jindal Steel & Power Limited (JSPL) has reported a remarkable achievement in its financial performance for the fourth quarter, with its profit after tax (PAT) doubling to Rs 9.33 billion. This significant growth underscores the company's robust operational performance and strategic initiatives, reflecting its resilience and adaptability in the competitive steel and power sectors.
The doubled PAT for the fourth quarter is a testament to JSPL's effective management strategies and operational efficiency. It signifies the successful execution of the company's growth plans and its ability to..
India's Peak Power Demand to Surge
India is bracing for a substantial increase in peak power demand this May, with the Power Ministry forecasting a daytime peak of 235 GW and an evening peak of 225 GW. This surge underscores the country's escalating energy needs amid rising temperatures and economic activities.
The anticipated peak demand is significantly higher than previous records, reflecting the growing consumption patterns driven by urbanisation, industrial activities, and increased usage of air conditioning. The Ministry's projections are based on data from the Central Electricity Authority (CEA), which monitors a..
