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RIL's subsidiary Model Economic Township Ltd on Saturday launched a 100-acre project in its large integrated township 'Reliance MET City' at Jhajjar, Haryana. Reliance Industries group has acquired 8,250-acre land to develop 'Reliance MET City'. Already more than 650 companies from 11 countries, including Japan, have set up industries in the integrated smart city. In a statement, the company announced the launch of 'Metropolis by MET City', mixed-use development comprising residential and industrial plots. This new project is spread across 140 acre. In the first phase, the company has launched 100 acre for sale. The residential component offers plots in sizes ranging from 112 square yards to 179 square yards. Model Economic Township Limited did not disclose investment on development of this new project as well as the revenue potential. Shrivallabh Goyal, CEO & Whole Time Director of the company, said, "Metropolis is an important step forward in our vision for Reliance MET City.
Swan Defence and Heavy Industries (SDHI) on Friday said it has bagged a USD 227 million (around Rs 2,080 crore) contract from Europe-based Rederiet Stenersen AS. The company has received the order to manufacture and supply six 18,000 DWT (deadweight tonnage) IMO Type II chemical tankers from its shipyard in Pipavav, Gujarat. Swan Defence and Heavy Industries, in a statement, said the order valued at USD 227 million is one of India's largest single commercial shipbuilding orders and the first chemical tanker order placed with an Indian shipyard. The contract bagged from European shipowner Rederiet Stenersen AS also includes an option for six additional vessels. The first vessel is scheduled for delivery within 33 months, with subsequent deliveries planned at regular intervals. Each tanker will have an overall length of approximately 150 metres and a beam of approximately 23 metres. The vessels will be designed by Marinform AS and StoGda Ship Design & Engineering and classed by ...
The CBI has booked the son of industrialist Anil Ambani, Jai Anmol Anil Ambani, and Reliance Home Finance Ltd. (RHFL) in a case of alleged cheating in Union Bank of India that caused a loss of Rs 228 crore to the public bank, officials said on Tuesday. The CBI acted on a complaint from the bank (erstwhile Andhra Bank) against Reliance Home Finance Ltd., Jai Anmol Anil Ambani and Ravindra Sharad Sudhakar, both directors in RHFL, they said. The company had availed credit limits to the tune of Rs 450 crore from the bank's SCF branch in Mumbai for business needs, the complaint stated. The bank had laid down the condition to maintain financial discipline including timely repayment, service of interest and other charges and submission of position of security and other required papers in time and routing the entire sale proceeds through the bank account. The company failed to pay the instalments to the bank and hence, the said account was classified as a non-performing asset (NPA) on ...
Anil Ambani-led Reliance Group on Monday said its arm Reliance Infrastructure is setting up one of India's most advanced, fully integrated solar manufacturing ecosystems spanning ingots, wafers, cells and modules. According to an investors presentation of Reliance Infrastructure, the manufacturing facility will have next-gen technology. The facility will bridge large demand-supply gap as India will need 5560 GW of solar modules annually by 2030, while upstream capacity remains significantly short. It will be a high-value, vertically integrated platform to reduce import dependence and strengthen India's clean energy security. It is establishing an end-to-end battery manufacturing ecosystem covering cell manufacturing, pack assembly and grid-scale containerised BESS (battery energy storage system) As per the presentation, India's installed stationary storage base is less than 1 GWh today and will rise to 250 GWh by 2032. Domestic manufacturing currently meets less than 10 per cent o
The Enforcement Directorate has attached fresh assets worth Rs 1,120 crore as part of its money laundering probe against the companies of Reliance Group chairman Anil Ambani, officials said. Eighteen properties, including the Reliance Centre in Mumbai's Ballard Estate, fixed deposits, bank balance and shareholding in unqouted investments of Reliance Anil Ambani Group have been provisionally attached under the Prevention of Money Laundering Act (PMLA), they said. Another set of seven properties of Reliance Infrastructure Ltd, two properties of Reliance Power Ltd, nine properties of Reliance Value Service Private Ltd, fixed deposits in the name of Reliance Value Service Private Ltd, Reliance Venture Asset Management Private Lt, Phi Management Solutions Private Ltd, Adhar Property Consultancy Pvt Ltd, Gamesa Investment Management Private Ltd and investments made in unquoted investment by Reliance Venture Asset Management Private Ltd and Phi Management Solutions Private Ltd have also bee