Shipping Corporation of India Ltd has incorporated a Wholly Owned Subsidiary - Shipping Corporation of India Land and Assets Limited pursuant to the approval of the Board of Directors based on the concurrence given by the Ministry of Ports, Shipping and Waterways and NITI Aayog for Hiving-off the Non-Core Assets of the Company as a part of Demerger under SCI's Strategic Disinvestment process undertaken by the Government of India.
Greenpanel Industries Ltd has announced that the manufacturing operations at company's MDF plant situated at Rudrapur, Uttarakhand, shall remain closed for a period of 10 days (approx.) w.e.f. November 11, 2021, due to addition of new machinery (Mat Heating System) to speed up the production process and increase the capacity utilisation. An estimated expenditure of Rs.8-10 crore (approx.) shall be incurred for addition of the above machinery and likely to result increase in production capacity of the above plant from existing 1,80,000 CBM to revised 2,1,G,OOO CBM (approx.) per annum.
Sun Pharma says the company is gearing to introduce oral antiviral molnupiravir in India. The Drugs Controller General of India is currently reviewing clinical data of molnupiravir for the treatment of Covid-19 in adults – positive The company has signed a non-exclusive voluntary licensing agreement with Merck Sharpe Dohme to manufacture and supply molnupiravir in India and to over 100 low and middle-income countries.
Meghmani Finechem , a leading manufacturer of Chlor-Alkali products and its value-added Derivatives, on Thursday announced its expansion plans into Chlorotoluene and its value chain. The upcoming facility in its existing Chlor-Alkali Complex of Dahej will produce intermediates for manufacturing pharmaceutical and agro-chemical active ingredients, which are amongst the fastest growing segments. The Chlorotoluene project is expected to be commissioned by Q4FY24 and would require a capex of Rs 180 crore which will be fully funded through internal accruals.
RailTel Corporation of India : The Content on Demand (COD) contract awarded to Margo Networks for providing COD service in all Mail/Express and Suburban trains and all Wi-Fi enabled Railway Stations on a build-own-operate (BOO) basis for 10 years has been terminated by RailTel due to non-performance by the contractor.
Firstsource Solutions : Sourcepoint, a Firstsource company, has entered into a definitive agreement to acquire The StoneHill Group, subject to regulatory approvals.
NHPC said it will form a joint venture company with Green Energy Development Corporation of Odisha for implementation of 500 MW floating solar power project in various water reservoirs in Odisha.
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