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India plans new shipping firm to expand fleet by 1,000 ships in next decade
PORTS & SHIPPING

India plans new shipping firm to expand fleet by 1,000 ships in next decade

The government plans to set up a new shipping company to expand its fleet by at least 1,000 ships in the next decade, as Asia’s third-largest economy seeks a bigger chunk of revenue from surging trade. The yet-to-be-named firm will be jointly owned by state-run companies in the oil, gas and f...

The government plans to set up a new shipping company to expand its fleet by at least 1,000 ships in the next decade, as Asia’s third-largest economy seeks a bigger chunk of revenue from surging trade. The yet-to-be-named firm will be jointly owned by state-run companies in the oil, gas and fertiliser industries. The new firm will be based at GIFT IFSC, in Gujarat which aims to compete with hubs such as Singapore, based on provision of incentives and a streamlined regulatory environment. It would draw seed capital from a maritime development fund of roughly Rs.300 billion the government plans to set up in a tie-up with major port authorities. Current estimates show that freight costs will rise to $400 billion as exports and imports get a boost by 2047.  

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Infrastructure Energy

Shree Cement Boosts Green Goals with 6 MW Solar Plant in Roorkee

Shree Cement, one of India’s leading cement producers, has commissioned a 6.0 MWp solar power plant at its Roorkee unit in Uttarakhand. Strategically located next to its existing cement operations, the plant marks a significant step forward in the company’s journey towards its RE100 targets and decarbonization goals.With this latest addition, solar capacity at the Roorkee facility has grown sevenfold from 1.0 MWp to 7.0 MWp. Shree Cement’s total solar footprint now stands at an impressive 293.5 MWp, reinforcing its leadership in sustainable manufacturing within India’s cement sector.Ne..

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Infrastructure Urban

Covestro India, CSIR-NCL Partner to Recycle Polyurethane Waste

Convestro (India) National has signed a Memorandum of Understanding (MOU) with the CSIR- Chemical Laboratory (NCL) launching an innovative Corporate Social Responsibility project aimed at developing sustainable upcycling solutions for polyurethane materials, addressing the critical limitations in current recycling technologies.The collaborative project will explore innovative approaches to transform polyurethane waste into valuable chemical building blocks. This research aims to develop commercially viable technologies that could greatly improve the circularity of polyurethane materials while ..

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Infrastructure Urban

Aimtron Electronics Raises Rs 1 Bn via Warrants for New Facility

Aimtron Electronics, a fast-growing Electronics System Design and Manufacturing (ESDM) company, hased a fundraise of approximately Rs 1 billion through the issuance of convertible warrants on a preferential basis. The round includes participation from the promoter group including Mukesh Vasani and Nirmal Vasani along with a host of marquee investors.The Board of Directors of Aimtron Electronics has approved the issuance of up to 14,79,000 warrants of the company, at the price of Rs 666 per warrant each convertible into, for one fully paid-up equity share of the company of face value of Rs 10 a..

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