In a first of its kind, ABG Shipyard Ltd has signed a Rs 970-crore contract with the Indian Navy for construction of two cadet training ships. The ships are for providing basic training to the naval cadets and trainees, to carryout disaster relief, search and rescue operations, and have the capability to carry a light helicopter.

The vessel will be around 110 metres long and will be designed for a maximum speed of 20 knots. The value of the order is Rs 970 crore. With this order, the total order book of the company stands at around Rs 14,890 crore.

Birla Corporation Ltd, belonging to the M. P. Birla Group, plans to enhance its cement production capacity to 9.30 million tonnes after completion of its expansion programmes, including the 1.2 million tonne capacity increase proposed at its Chanderia (Rajasthan) plant and the 0.60 million tonne increase proposed in Durgapur (West Bengal).

KEC International Ltd, which had through its special purpose vehicle acquired SAE Towers Holdings LLC together with its subsidiaries at $95 million in September 2010 by raising loans, has, out of internal accruals generated by SAE Towers, prepaid $5 million of the loan within nine months of acquisition.

NTPC Ltd commissioned Unit 1 of the 660 MW Sipat Super Thermal Power Project on Tuesday. This is the first super-critical 660 MW unit of NTPC which has been added to the capacity. With the commissioning of this unit, the total installed capacity of the Sipat Project goes up to 1,660 MW and the total capacity of the NTPC group, to 34,854 MW.

Shriram Transport Finance Company Ltd has, with reference to the public issue of secured non-convertible debentures of face value Rs 1,000 each, has said that the Debt Issuance Committee of the company has authorised early closure of the issue with effect from the close of banking hours on June 29 on account of its being oversubscribed.

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