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RPG Group firm and a global infrastructure major KEC International has secured orders worth Rs 2,211 crore across various businesses. According to a company statement, the Transmission & Distribution (T&D) business has secured orders in the Middle East and Americas. This entails design, supply and installation of 380 kV Overhead Transmission Lines in the Kingdom of Saudi Arabia (KSA) as well as supply of towers, hardware and poles in the Americas. The Oil & Gas Pipelines business has secured its second international order for terminal station works in Africa in addition to its ongoing pipeline laying project in the region. The Cables business has secured orders for supply of various types of cables in India and overseas. "The large order wins in Saudi Arabia have further strengthened our international T&D order book. These wins reaffirm the Middle East and North Africa (MENA) region's strategic importance as a key growth driver for us. "Our subsidiary, SAE Towers has ..
Thousands of rail passengers in Spain were hit with delays after the cable used in the signalling system of the high-speed line between Madrid and Seville was stolen at four locations, Spanish rail authorities said Monday. The theft, which happened late Sunday, affected dozens of trains travelling between Madrid and Andaluca, just as many people were returning home to the capital after a holiday weekend. On Monday, Spain's state-owned rail operator Renfe told passengers with trains departing Madrid's Atocha station before 8 am to not arrive early to avoid crowding. The cable theft took place at four points on the high-speed line in Toledo in central Spain, Spain's railway infrastructure company ADIF said on X. The incident came a week after a massive power outage in Spain and Portugal ground high-speed train traffic to a halt, stranding thousands of train passengers.
Wires manufacturer Paramount Cables has reported a 54 per cent rise in its consolidated net profit at Rs 22.03 crore in the December quarter of the current fiscal, boosted by higher income. It had posted a net profit of Rs 14.32 crore during the October-December quarter in the preceding financial year, the company said in an exchange filing on Saturday. The company's total income rose to Rs 285.83 crore, up 29 per cent from Rs 221.99 crore in the year-ago period. It's expenses stood at Rs 263.77 crore as against Rs 207.68 crore year on year. Paramount Cables manufactures multi-core cables, low and high-voltage cables, besides extra-high-voltage cables for industrial applications.
The government has issued mandatory quality norms for solar cable and cast iron products to curb the import of sub-standard goods and boost domestic manufacturing of these goods. A notification in this regard was issued by the Department for Promotion of Industry and Internal Trade (DPIIT) on August 25. Items under Solar DC Cable and Fire Survival Cable (Quality Control) Order, 2023; and Cast Iron Products (Quality Control) Order, 2023 cannot be produced, sold, traded, imported and stocked unless they bear the Bureau of Indian Standards (BIS) mark. This order includes electric cable for photovoltaic systems. These cables can be used indoor and outdoor for flexible and fixed installations with high mechanical strength in extreme weather conditions. Fire cables are designed to sustain the high temperatures for a defined minimum period of time under direct fire. It is used in nuclear power plants, airports, metro rails, refineries, high rise buildings, shopping malls and cinema ...
Electrical and communication cable manufacture Finolex Cables on Monday reported a 39 per cent rise in its net profit at Rs 132.2 crore in the April-June quarter. The company had reported a net profit of Rs 95.6 crore in the trailing 12-month period. The Pune-headquartered company in a statement said its revenue for the quarter rose 19 per cent to Rs 1,204.3 crore from Rs 1,015.7 crore recorded in the corresponding period of FY23. In volume terms, its flagship electrical wires rose 29 per cent, while power cables increased 3 per cent. Within the communication cables segment, volume of metal-based products improved 17 per cent during the quarter and optical fiber cable volume grew 50 per cent. Volume growth in new products within the FMEG (fast moving electrical goods) segment was marginal due to continued inflationary pressures affecting consumer sentiment, the company added. The expansion plans under which it is setting up a preform facility, OFC capacity expansion and E-beam ...
NATO launched a new centre Friday for protecting undersea pipelines and cables following the still-unsolved apparent attack on the Nord Stream pipelines and amid concern Russia is mapping vital Western infrastructure for energy and the internet in waters around Europe. The threat is developing, Lt. Gen. Hans-Werner Wiermann, who heads a special cell focused on the challenge, said after NATO defence ministers gave the greenlight for the new centre, located in Northwood, northwest London. Russian ships have actively mapped our critical undersea infrastructure.There are heightened concerns that Russia may target undersea cables and other critical infrastructure in an effort to disrupt Western life, he told reporters at NATO headquarters in Brussels. NATO was spurred into action after an apparent attack on two Baltic Sea gas pipelines in September. The suspected attacks on the Nord Stream 1 and Nord Stream 2 pipelines, which were built to carry Russian natural gas to Germany, are still
The Rs 500-crore initial share-sale of DCX Systems, manufacturer of cables and wire harness assemblies, will open for public subscription on October 31. The three-day Initial Public Offering (IPO) would close on November 2, according to the Red Herring Prospectus (RHP). The company has cut the size of its fresh issue of equity shares to Rs 400 crore from Rs 500 crore planned earlier. Apart from fresh issue, the IPO comprises an offer for sale of equity shares to the tune of up to Rs 100 crore by promoters -- NCBG Holdings Inc and VNG Technology. The company proposes to utilise the net proceeds from the fresh issue towards debt payment, funding working capital requirements, investment in its wholly-owned subsidiary Raneal Advanced Systems to fund its capital expenditure expenses and general corporate purposes. The Bengaluru-based company is primarily engaged in system integration and manufacturing a comprehensive array of cables and wire harness assemblies, and are also involved in