Infrastructure firm Lanco Infratech on Tuesday said it has bagged a `4,100 crore order from an arm of Moser Baer Projects to execute a 1200-MW power project. Lanco bagged the order through a international competitive bidding, the company said in a filing to BSE. “Lanco Infratech Limited (LITL) EPC(engineering, procurement and construction) division has been awarded a `4,100 crore EPC contract by a subsidiary of Moser Baer Projects Pvt Ltd for execution of its coal based 2x600 MW power project”, LITL said in its filing. “The scope of work includes completion of the main plant...including civil and structural works on engineering, procurement and construction basis,” it added.
Dhanlaxmi, Doha Bank in tie up
Eyeing fee-income from NRI remittances from the Gulf, Kerala-based Dhanlaxmi Bank on Tuesday entered into a tie-up with Qatar’s largest bank, Doha Bank, for online transfer of funds. Indian diaspora, who have accounts with Doha Bank, will be able to remit money via the Internet banking platform to beneficiaries having their accounts with Dhanlaxmi bank or any other Indian bank on the NEFT/RTGS network, a release issued by Dhanlaxmi Bank said. Dhanlaxmi Bank, which has 274 branches nationwide, already has remittance arrangements with nine exchange houses in Gulf countries like United Arab Emirates, Kuwait and Oman, it added.
Moser Baer begins solar farm in TN
Moser Baer Clean Energy Ltd (MBCEL), a subsidiary of Moser Baer Projects Private Limited (MBPPL) has commissioned the country’s largest and the first 5 MW solar farm at Sivaganga in Tamil Nadu. The technical expertise for commissioning was provided by the EPC (Engineering Procurement Commissioning) arm of Moser Baer Solar Ltd. The International Finance Corporation and the IDBI bank has provided debt for the project. The solar farm has been commissioned using amorphous silicon thin film technology which is best suited for the Indian climatic conditions and is connected to the 110 KVA local grid.
Thailand to ink FTA with India
Thailand said a comprehensive market-opening pact with India is expected to be concluded in 2011, giving a boost to bilateral trade, set to cross $6.5 billion this fiscal. “We are expecting to conclude the free trade agreement next year (2011),” Thailand deputy minister of commerce, Mr Ponlaboot said.at a function. The two countries have already abolished duties on 82 items under an ‘Early Harvest Scheme’ (EHS), launched in 2004. The EHS was an initial phase of the FTA, which was to be upgraded into a full-fledged arrangement for reduction and elimination of duties on most goods traded between the two.