Engineering
Sansera signs MoU with Karnataka to set up manufacturing facility at Rs 2,100 Crore
Sansera Engineering Limited signed an MoU with the Karnataka government to invest Rs 2,100 crore in expanding its manufacturing capacity in Ramanagara, aiming to boost growth in automotive and non-automotive sectors. The investment will span three to five years, creating around 3,500 jobs. The new facility, expected to increase manufacturing capacity by Rs 3,000 crore, will introduce advanced technologies and training programs to enhance local workforce skills and promote innovation.
Garuda Aerospace signs pact with French Thales to promote drone ecosystem
Thales, a major player in the French aerospace industry, has signed a preliminary agreement with UAV manufacturer Garuda Aerospace to support drone ecosystem development in India. It will focus on unmanned traffic management solutions and system integration. The collaboration aims to drive innovation and enhance technological solutions for safe and secure drone operations, leveraging Thales' global experience. Ashish Saraf, Thales' VP and Country Director in India, highlighted the Indian government's support for the drone industry and emphasized the partnership's role in advancing UTM systems in the country
BPEA Credit commits Rs 250 crore to DMW group
BPEA Credit invests Rs. 250 crore in DMW Group, specializing in precision manufactured components for various industries. The funding, which includes a green shoe option, supports DMW's growth in automotive, aerospace, railways, and other sectors. BPEA sees potential in India's manufacturing industry, aligning with their investment philosophy and the country's growth prospects.
NCLAT relief for IL&FS Engineering in recovery case
The National Company Law Appellate Tribunal (NCLAT) dismissed Terra Projects Pvt Ltd's application for modification of its October 2018 order, preventing the company from initiating recovery proceedings against IECCL for ₹150 crore. The tribunal ruled that the Supreme Court has not interfered with the NCLAT order, and Terra Projects' plea for modification was bound to be rejected.
Schindler will one day employ as many in India as in China, CEO says
Swiss liftmaker Schindler plans to employ as many people in India as it does in China, according to CEO Silvio Napoli. The company, which first established itself in India in 1998, currently employs about 6,000 people in India and plans to employ 10,000 there by the same time. The company's strategy is to manufacture where it builds, install and maintain, with the Indian market justifying its expansion.
Panasonic Avionics sees opportunities for more India software facilities
Panasonic Avionics, a global leader in inflight engagement and connectivity, has opened its first software design and development centre in India. The company sees an opportunity to have more facilities in India due to its fast-growing market, where Air India and IndiGo are expanding their fleets and Air India is refurbishing its old aircraft. Demand will come mainly from newer customers, with a massive opportunity in segments such as refurbished aircraft.
Corner Office Conversation with Roland Busch, Global CEO, Siemens AG
Did you know Siemens is the world's largest industrial software company? The Morning Brief podcast explores how this German giant, known for smart cities, cutting-edge green factories, and innovative energy solutions, is transforming itself to meet today's challenges. Host Arijit Barman sits down with the behemoth's global CEO Roland Busch to discuss industry, innovation, and the future of industrial software, with a special focus on India.
Panasonic Avionics opens new software design facility in Pune
Panasonic Avionics Corporation has opened a new software design and development facility in Pune, focusing on in-flight engagement and connectivity (IFEC) solutions. The facility employs over 200 skilled engineers and is developing partnerships with universities to accelerate growth. The new facility will develop, test, and sustain new software for narrowbody and widebody aircraft, including X series in-flight entertainment systems, digital solutions, and IFEC development support via SDKs.
L&T expects to win more global orders on ratings boost
Larsen & Toubro anticipates a surge in its international business following higher global credit ratings than the sovereign. With increased access to international projects, the company aims to strengthen its presence in the Middle East, focusing on renewable energy, urban infrastructure, and oil and gas projects.
Maire’s Tecnimont, Nextchem awarded engineering design study for a green ammonia plant in India
Maire's Tecnimont and Nextchem secured a contract from Sembcorp Green Hydrogen India for an engineering design study of a green ammonia plant in India. The study will use Nextchem’s ArcHy tool to optimize plant efficiency. Maire CEO Alessandro Bernini highlighted the Group's commitment to energy transition and cost-effective decarbonization solutions.
Must Watch
Sadbhav Engineering seeks debt restructuring; interim debt at two SPVs
The company's chief executive officer appeared before the tribunal, stating that a restructuring package had been proposed to all financial creditors and the court asked to convene a meeting of lenders, as reported by ET on July 2.
Siemens wins Rs 766 crore Bangalore Metro electrification order
Siemens has secured an order worth Rs 766 crore from Bangalore Metro Rail Corporation for the electrification of Bengaluru Metro Phase 2, a project aimed at sustainable public transport. The total order value is around Rs 766 crore, with Siemens Limited's share at around Rs 558 crore.
Larsen & Toubro bags 'significant' order from Hindustan Shipyard
Larsen & Toubro has secured a significant order, valued between Rs 1,000 crore and Rs 2,500 crore, from Hindustan Shipyard Ltd to construct part of two Fleet Support Ships (FSS) for the Indian Navy. The ships, crucial for logistical support, will be built at L&T's advanced shipyard in Kattupalli.
Janky Patel new chairperson of Patel Engineering after death of Rupen Patel
Janky Patel has been appointed as the chairperson of Patel Engineering following the death of her husband, Rupen Patel, who was the company's chairman and managing director. He passed away late Friday, according to a statement from the company. The statement from Patel Engineering announced, "Rupen Patel, Chairman and Managing Director of Patel Engineering Limited, passed away in the late hours of Friday."
NexGen Energia plans to invest Rs 15,000 cr over 10 yrs to open 5,000 green diesel, CBG pumps
NexGen Energia plans a Rs 15,000 crore investment to establish 5,000 green diesel and CBG pumps across India over the next decade. The initiative aims to reduce fuel imports by 30% and create jobs for 10 lakh people. The company also expands into electric vehicles with affordable two-wheelers and upcoming electric trucks and buses.
India to be deep tech powerhouse and big part of Siemens' game plan
Siemens AG plans to increase software and digital services sales to 20%, with India being a key player in this strategy, according to CEO Roland Busch. The company has invested in expanding its software portfolio and collaborating with Microsoft on AI technology. India is a vital region for Siemens, where it aims to grow its human resources capital and manufacturing capabilities, targeting both local and global markets.
