Indian Oil invests Rs 16.60 bn in NTPC JV for power plants

16 Oct 2023 CW Team

Indian Oil Corporation, the largest oil company in the nation, has announced plans to invest Rs 16.60 billion as equity in a newly established joint venture with energy giant NTPC.

The purpose of this joint venture is to establish renewable power plants. In June, IOC and NTPC collaborated to form a 50:50 joint venture company named IndianOil NTPC Green Energy.

This collaboration aimed to develop renewable energy projects that could meet the continuous power demands of IOC's refineries. IOC revealed that during a meeting held on October 13, their board approved the investment plan for the joint venture company.

The board also gave the green light for an equity contribution of up to Rs 16.60 billion, representing Indian Oil's 50% share in the equity share capital of the joint venture. On June 2, IOC officially established the joint venture company, IndianOil NTPC Green Energy, in partnership with NTPC Green Energy, a wholly-owned subsidiary of NTPC.

The primary objective of this newly formed company is to develop renewable energy-based power projects, including solar PV, wind, and other forms of renewable energy, along with energy storage solutions.

These projects are intended to meet the round-the-clock power requirements of new ventures undertaken by Indian Oil Refineries. The ultimate goal of this collaboration is to generate a minimum capacity of 650 MW of round-the-clock renewable power.

This capacity is crucial in ensuring that the energy needs of IOC's refineries are met consistently, marking a significant step towards sustainable and eco-friendly energy solutions.

Infrastructure Urban

06 Nov 2025

Concord Control Systems Limited Reports ~85% YoY Growth in H1 FY26

Concord Control Systems Limited (BSE: CNCRD | 543619), India’s leading manufacturer of embedded electronic systems and critical electronic solutions, announced its unaudited financial results for the half year ended September 30, 2025.Financial Highlights – H1 FY26 (YoY Comparison)Revenue from Operations rose to ₹815.45 million, up from ₹497.53 million in H1 FY25, marking a 63.90% year-on-year growth.EBITDA increased to ₹217.34 million, compared to ₹142 million in the same period last year.EBITDA Margin stood at 26.65%, compared to 28.54% in H1 FY25, with the decline attributed to ..

Gateway Distriparks Announces Q2 FY25 Results

Gateway Distriparks Limited (GDL), one of India’s leading multimodal logistics providers, announced its financial results for the quarter ended 30 September 2025.For Q2, the company reported total revenue of INR 154.8 crore (H1: INR 316.9 crore), EBITDA of INR 20.56 crore (H1: INR 45.65 crore), PBT of INR –4.23 crore (H1: INR –0.28 crore), and PAT of INR –2.91 crore (H1: INR –0.37 crore). The company stated that these numbers reflect the consolidation of accounts following Snowman Logistics transitioning from an associate company to a subsidiary in December 2024.Commenting on the per..

Last-Mile Connectivity a Prime Focus, Says Ms. Ashwini Bhide,

The IMC Chamber of Commerce and Industry (IMC) hosted a high-impact Managing Committee session today on the theme “Mumbai Metro: Transforming Connectivity and Commuting.” The session featured an insightful address by Ms. Ashwini Bhide, Managing Director, Mumbai Metro Rail Corporation Ltd. (MMRCL), who shared updates on key transport infrastructure developments across Mumbai and the MMR region.Emphasising the city’s critical economic role, Ms. Bhide noted, “Mumbai is the economic powerhouse of Maharashtra, with more than 95% of the region’s population living in urban areas. As Maharas..