The Hindu Business Line : Corporate developments

Coimbatore, July 1 Hindustan Construction Company Ltd has bagged an order from National Highway Authority of India (NHAI), New Delhi, to construct the 4.4-km elevated six-lane highway at Badrapur on National Highway (Mathura Road) near Delhi on BOT basis. The contract envisages design, construction, development, finance, operation and maintenance of the six lane elevated highway. The cost of the project is estimated at about Rs 340 crore. The concession period is 20 years, including construction period of 24 months.

Kirloskar Brothers Ltd has, through its investment company Kirloskar Brothers International B. V., formed a subsidiary in Netherlands under the name and style ‘Kirloskar Brothers Europe B. V.’. This is a joint venture between Kirloskar Brothers International B.V. and Industrial Pump Group, Netherlands, a company engaged in the sales and service of pumps in Europe. Kirloskar Brothers Europe B.V. shall function as a distributor in Europe under the brand ‘Kirloskar’ and is operational from July 1.

National Thermal Power Corporation Ltd (NTPC) has signed a loan agreement of Rs 10,000 crore with Power Finance Corporation to finance the expenditure on the on-going capacity addition programme of NTPC, including renovation and modernisation and coal mining and coal washeries. The tenure of the loan is 16 years with a moratorium of four years.

Prithvi Information Solutions Ltd’s board of directors has approved the proposal for entering into a joint venture with Saudi Delta Contracting, Dubai for participating in the growing telecom market in Dubai.

Steel Authority Of India Ltd has signed a Memorandum of Understanding with Shipping Corporation of India Ltd (SCI) to promote a joint venture company primarily to provide various shipping-related services to SAIL for importing coking coal. The proposed company may also participate in worldwide dry bulk shipping trade. The joint venture company will own/operate/charter ships to offer competitive rates in shipping related businesses and set up economically feasible coastal transportation of coal from deep draft ports.

Valecha Engineering Ltd’s board of directors will consider the issue of bonus shares at its meeting on July 30.

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