Grovy India raises Rs 150 million through preferential issue

L&T Delivers 110 Modules for Australia’s Largest Urea Plant

Larsen & Toubro (L&T) has completed the fabrication and delivery of 110 modules for Project CERES, Australia’s largest urea manufacturing plant, marking a significant milestone in the execution of the 2.3 MTPA facility. The project is being developed by Perdaman Chemicals & Fertilisers in Karratha, Western Australia, under the Saipem-Clough Joint Venture. L&T’s scope comprised 47 Pre-assembled Units and 63 Pre-assembled Racks, with the modules weighing approximately 64,000 metric tonnes. Fabricated at the company’s Modular Fabrication Facility at Kattupalli near Chennai, the modules wer..

EPFO Wage Ceiling Raised to Rs 25,000 per Month

The Union Cabinet has approved the proposal to increase the wage ceiling for mandatory coverage under the Employees’ Provident Fund Organisation (EPFO) from Rs 15,000 to Rs 25,000 per month. The move is expected to bring over 51 lakh additional employees under the EPFO social security framework.The revised ceiling will extend access to provident fund savings, pension benefits under the Employees’ Pension Scheme (EPS) and insurance coverage under the Employees’ Deposit Linked Insurance Scheme (EDLI) to a wider section of employees earning between Rs 15,000 and Rs 25,000 per month.The EPFO..

Maharashtra to Get Rs 270 Billion Shipbuilding Cluster

Mazagon Dock Shipbuilders Ltd (MDL) will invest around Rs 27,000 crore to develop a greenfield shipbuilding cluster at Dighi Port in Maharashtra’s Raigad district. The project is expected to create nearly 90,000 employment opportunities, according to the state government.MDL has signed a memorandum of understanding (MoU) with National Shipbuilding and Heavy Industries Park Maharashtra Ltd (NSHIPML) for the development of the project in the presence of Maharashtra Chief Minister Devendra Fadnavis.Under the agreement, MDL aims to establish an annual shipbuilding capacity of at least 2 million ..