Dhunseri Petrochem & Tea Ltd has said that the foundation stone for the 4,20,000 tpa PET resin plant of Egyptian Indian Polyester Company SAE, a 70 per cent subsidiary of the company, was laid on June 23 in Egypt. It is estimated to cost $160 million and will generate a revenue of $700 million when fully operational. It is likely to be commissioned by Q4-2012. Apart from Dhunseri, the other stakeholders are two Egyptian companies.

Diamond Power Infrastructure Ltd, which has set up a modern plant to produce transmission towers aggregating 48,000 MW a year, has received an order aggregating Rs 78 crore to supply tower materials for 400-KV Quad and Twin lines aggregating 13,531 MW to be supplied over the next six months.

Ferro Alloys Corporation Ltd has declared a lock out in Charge Chrome Plant with effect from June 29 consequent to unlawful activities by the workmen of the company.

Forbes & Company Ltd has said that Forbes Bumi Armada Offshore Ltd (FBAOL), a subsidiary and joint venture company, has been awarded a seven-year contract by ONGC for providing a floating, production, storage and off-loading vessel (FPSO), to ONGC on charter hire including operations and management of the FPSO. The joint venture partner in FBAOL is Bumi Armada Berhad, a Malaysia headquartered company engaged in the business of providing design, engineering, construction and operating off-shore vessels. It provides these globally to companies operating in the oil and gas industry.

Related Topics