Genesis and IGL to invest Rs 1.1 bn to build metre manufacturing plant
POWER & RENEWABLE ENERGY

Genesis and IGL to invest Rs 1.1 bn to build metre manufacturing plant

Genesis, a division of Vikas Lifecare (VLF), and Indraprastha Gas (IGL) have signed a contract to establish a metre manufacturing facility at a cost of around Rs 1.1 billion.

The unit would be established through a joint venture business.

With an investment of Rs 1.1 bn, Genesis Gas Solutions (Genesis) and IGL have formed a joint venture to build a smart metre manufacturing facility.

The business will produce diaphragm gas metres with IoT features like Bluetooth, NFC, LoRa, LoRaWAN, and NB-IoT.

The factory for smart metres will initially be able to produce one million metres annually.

IGL and Genesis will have a 51:49 ownership share in the JV.

By April 2024, the unit is anticipated to be operating.

Also read:
Goldman's to offload 14 per cent stake in ReNew Energy Global
40 per cent Renewable Generation Obligation (RGO) mandatory


Genesis, a division of Vikas Lifecare (VLF), and Indraprastha Gas (IGL) have signed a contract to establish a metre manufacturing facility at a cost of around Rs 1.1 billion. The unit would be established through a joint venture business. With an investment of Rs 1.1 bn, Genesis Gas Solutions (Genesis) and IGL have formed a joint venture to build a smart metre manufacturing facility. The business will produce diaphragm gas metres with IoT features like Bluetooth, NFC, LoRa, LoRaWAN, and NB-IoT. The factory for smart metres will initially be able to produce one million metres annually. IGL and Genesis will have a 51:49 ownership share in the JV. By April 2024, the unit is anticipated to be operating. Also read: Goldman's to offload 14 per cent stake in ReNew Energy Global 40 per cent Renewable Generation Obligation (RGO) mandatory

Next Story
Infrastructure Transport

RVNL Wins $21.6 Million Bhopal Division Traction Substation

Rail Vikas Nigam (RVNL) has been declared the lowest bidder for a $21.6 million traction substation contract awarded by the West Central Railway.The project covers the design, modification, supply, erection, testing, and commissioning of a 220/132kV/2×25kV Scott-connected traction substation, switching posts, Auto-Transformer installations, and Supervisory Control and Data Acquisition (SCADA) systems in the Bina–RTA section of the Bhopal Division. The execution period is set at 540 days.In a regulatory filing, RVNL stated that the order was secured in the ordinary course of business and doe..

Next Story
Infrastructure Transport

New Budgam–Delhi Parcel Train to Boost Kashmir Apple Trade

The Awami Itihaad Party (AIP) has thanked Prime Minister Narendra Modi and Union Railway Minister Ashwini Vaishnaw for launching a daily parcel train service from Budgam to Delhi, dedicated to transporting Kashmiri apples.Calling the initiative a timely relief for growers, AIP Chief Spokesperson Inam Un Nabi said the service will ease challenges for apple traders and ensure produce reaches Delhi markets promptly.He noted that the step followed a request made earlier by the office of incarcerated AIP President and MP Baramulla, Er Rashid, highlighting that genuine public concerns are being addr..

Next Story
Infrastructure Transport

Indian Railways to Monetise Mumbai Land to Raise Rs 80 Billion

The Indian Railways, via its land development arm, the Rail Land Development Authority (RLDA), is set to raise at least Rs 80 billion by leasing key land parcels in Mumbai’s real estate market. The authority aims to monetise around 25 acres across four prime locations in the financial capital.1) Bandra West Staff Quarters (5–6 acres)The Bandra West plot, spanning five acres, currently houses railway staff quarters built in 1955. RLDA plans to relocate staff into a 25-storey high-rise and monetise the remaining land for commercial development. Details such as reserve price, lease tenure, an..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?