Vikas Ecotech ventures into conventional energy with Rs 0.2 bn order

08 Aug 2023 CW Team

Vikas Ecotech (VEL) made an announcement about its new venture into the realm of conventional energy. This decision followed the reception of a substantial Rs 0.2 billion order for coal supply from Prism Johnson, a prominent cement manufacturer. The scheduled supplies for this order are set to commence within the next 15 days and will reach completion by October 31, 2023, according to a statement released by the company.

Vikas Ecotech has successfully secured a significant contract worth Rs 0.2 billion for the delivery of coal to Prism Johnson, a company backed by the Rajan Raheja Group.

With a robust focus on business expansion, Vikas Ecotech has been actively exploring various avenues within the energy sector. This includes not only the conventional energy sources commonly used in India but also the burgeoning domains of renewable and eco-friendly energy.

The company's primary business domain involves the creation of specialty polymers designed for applications spanning sectors such as electrical engineering, infrastructure development, packaging, and automotive manufacturing, among others.

In a strategic diversification move, Vikas Ecotech is broadening its portfolio by entering the manufacturing of steel pipes and MDPE (medium-density polyethylene) pipes.

The official statement emphasised the company's entrance into the conventional energy market with its coal supply endeavours. This move is seen as a decisive step toward establishing a strong presence within the energy business sector, particularly given coal's major role as an energy source in India.

Vikas Ecotech's forward-looking strategy also encompasses explorations into renewable energy materials and products. This includes a keen interest in solar energy, gas-based solutions, and the cutting-edge domain of hydrogen fuel cells, showcasing the company's commitment to embracing the latest advancements in sustainable energy technologies.

Infrastructure Urban

13 Oct 2025

Daikin Boosts Haryana’s Innovation Push with Rs 10 billion R&D Plan

Japanese multinational Daikin Industries has committed an investment of Rs 10 billion to set up a new research and development centre in Haryana. The proposed facility will focus on advanced technologies and sustainable industrial solutions, marking a significant boost to the state’s innovation and industrial ecosystem. The announcement follows the signing of a Memorandum of Understanding (MoU) in Osaka, Japan, during a visit by a Haryana government delegation held from October 6 to 8. The MoU was signed by Amit Kumar Agrawal, Commissioner and Secretary, Industries and Commerce Department, ..

Lloyds Metals to Build Rs 250 billion Steel Plant in Gadchiroli

Lloyds Metals & Energy Limited (LMEL) has announced an investment of Rs 250 billion aimed at transforming Gadchiroli in Maharashtra from a region once associated with the red corridor into a key industrial and growth hub. The company’s plans are centred on establishing an integrated steel production ecosystem, which will contribute significantly to regional development and employment. As part of its expansion strategy, LMEL is setting up a 4.5-million-tonne blast furnace in Gadchiroli, scheduled for completion by 2027–28, along with another 1.2-million-tonne facility in Chandrapur by 2029..

UPI Crosses 500 Million Users, Fuels MSME and Digital Growth

The Unified Payments Interface (UPI) has achieved a new milestone, surpassing 500 million consumers and 65 million merchants across India. The platform, developed by the National Payments Corporation of India (NPCI), has expanded its reach to nearly 99 percent of the country’s pin codes, underlining its deep penetration into both urban and rural markets. According to a report by NPCI and the Boston Consulting Group (BCG) launched during the Global Fintech Fest 2025, UPI has evolved from being a digital payments mechanism into a key enabler of financial inclusion and small business growth. I..