Page 4 - Joint Ventures In India

Govt gives nod to NPCIL-NTPC JV for building nuclear plants in Rajasthan

The government has approved a joint venture between NPCIL and NTPC to build four 700 MWe nuclear power plants at Mahi Banswara in Rajasthan. The Department of Atomic Energy handed over the document approving the joint venture 'Anushakti Vidyut Nigam Limited (ASHVINI)'? to top officials of the Nuclear Power Corporation of India Limited (NPCIL) and the National Thermal Power Corporation (NTPC) on Tuesday, an official statement said. With this approval, ASHVINI has been authorized to build, own and operate nuclear power plants in India in accordance with the existing legal framework, the statement from NPCIL said. It said ASHVINI will be a subsidiary of NPCIL, which will have 51 per cent stake in the entity. The Mahi Banswara project of 4x700 MW Pressurised Heavy Water Reactors (PHWR) will be implemented by ASHVINI. The joint venture will pave the way for pooling resources in terms of finances and expertise for the rapid expansion of nuclear power capacity in the country to meet the

Reliance Retail, Delta Galil launch JV to drive apparel innovation in India

The partnership intends to establish an apparel innovation platform dedicated to meeting the demands of Indian consumers

Tower-Adani JV to set up $10 bn semiconductor unit in Maharashtra: Fadnavis

The proposed semiconductor manufacturing plant, located in the Navi Mumbai suburbs in Raigad district, will have an initial capacity of 40,000 WSPM in the first phase, with an ultimate capacity of 80,

SC directs Sahara to deposit Rs 1,000 cr, allows JV to develop Mumbai land

The Supreme Court on Thursday directed Sahara Group to deposit Rs 1,000 crore in a separate escrow account within 15 days and allowed it to enter into a joint venture for developing its land at Versova in Mumbai to realise Rs 10,000 crore. The amount of Rs 10,000 crore has to be deposited in SEBI-Sahara refund account for returning the investors' money, in compliance with the apex court's 2012 order. A bench of Justices Sanjiv Khanna, MM Sundresh and Bela M Trivedi said in case the joint venture/development agreement is not filed in the court within 15 days, then it will sell the 12.15 million square feet of land at Versova on 'as is where is' basis. "We grant 15 days' time to SIRECL and SHICL (both Sahara Group companies) to comply with the statement made in court today. In case the joint venture/development agreement is not filed within 15 days, it will be open for this court to undertake sale of the Versova land on as is where is basis," it said. The bench added, "The Rs 1,000 .

Adani Green approves pacts for TotalEnergies' $444 mn investment in JV

This comes after the company and the French oil major had inked a $300 million deal to build renewable capacity in India, where the bulk of energy requirements are still met by coal

Greenply expects Rs 800 cr turnover from its JV with Samet by FY26

Leading plywood and laminates maker Greenply expects a turnover of Rs 750-800 crore by FY26 from its equal joint venture (JV) with Turkiye-based furniture hardware firm Samet, a top company official said on Friday. Greenply expects 8-10 per cent volume growth in its core plywood business and 50-60 per cent in new medium-density fiberboard (MDF) business in the current fiscal, Joint Managing Director and CEO Manoj Tulsian said. It also plans to set up one more plywood factory that may have an investment of about Rs 125 crore and enter new adjacent products through brand extension of Greenply, he added. The Greenply-Samet JV has already commenced its manufacturing activities and commercial production at its Vadodara-based plant in Gujarat, which will not only cater to the growing domestic market but also explore export opportunities. "We have planned an investment of close to Rs 250 crore," Tulsian told PTI. The investment will be done in phases and only the first phase has been ...

Adani, Wilmar likely to pick banks for sale of stake in joint venture

Representatives for the Adani group and Nuvama did not offer any immediate comments, while representatives for Jefferies, SBI Capital and Wilmar International declined to comment

Chinese smartphone giants seek Indian partnerships amid govt push

Vivo, Oppo, and Xiaomi are in discussions to collaborate with Indian companies for manufacturing and distributing their products in India, however, major conglomerates seem hesitant

Govt to allow JVs with Chinese firms if Indian partner holds majority stake

The central government may relax its stance on Press Note 3 of 2020, which requires companies from countries sharing a land border with India to obtain government clearance before investing

Brookfield India REIT to acquire Bharti Enterprises' stake in realty JV

Following this, Bharti would become the second largest unitholder in Brookfield India REIT with an ownership stake of 8.53%

Tech Mahindra partners with Atento to offer GenAI-powered services

IT company Tech Mahindra on Tuesday said it has partnered with Spain-based Atento to provide generative AI-powered solutions and services to global enterprises. Atento is a customer relationship management (CRM) and business transformation outsourcing (BTO) company in Latin America. "The partnership will deliver end-to-end business transformation solutions and services that leverage Generative AI-powered technologies, as well as customer experience (CX) consulting for customers in the United States, Europe, the Middle East, and Africa and Latin American regions," the company said in a statement. The partnership will provide a comprehensive suite of business process outsourcing (BPO) solutions and services in more than 50 languages, it added.

Jio Financial shares rally after company announces JV with BlackRock

The incorporation of a brokerage firm by the joint venture will follow the launch of its wealth management company

RVNL-Salasar JV gets Rs 60 cr transmission project in central Africa

A joint venture of state-owned RVNL and private steel player Salasar Techno Engineering has bagged a transmission project worth around Rs 60 crore in central African nation Rwanda. The order has been secured from Energy Development Corporation Limited (EDCL) and to be executed in 18 months, Salasar Techno Engineering Limited (STEL) said in a statement on Friday. The Rwanda Transmission System Reinforcement and Last Mile Connectivity project (TSRLMC) worth USD 7.152 million equivalent to Rs 596.21 million (Rs 59.6 crore) is for plant design, supply and installation of 45.8 km, 110 KV double circuit Rukarara-Huye-Gisagara transmission lines, it said. Earlier this month, the JV bagged a transmission project worth around Rs 174 crore from the Madhya Pradesh government. While Rail Vikas Nigam Ltd (RVNL) holds a 51 per cent stake in the joint venture, STEL owns the remaining 49 per cent. RVNL, under the Ministry of Railways, is involved in development, financing and implementation of ra

Amber group, Resojet form JV to enter washing machine manufacturing biz

Amber group, a homegrown contract manufacturer for HVAC and consumer electronics, on Thursday said it has formed a 50 per cent JV with Resojet, a Radiant Group Company, for manufacturing fully automatic washing machines. This will help Amber group expand its footprint in the consumer durables space, beyond room air conditioners, a joint statement said. An Amber Enterprises spokesperson said, This joint venture is a significant step forward for Amber Enterprises as we continue to expand our presence in the consumer durables market. By partnering with Resojet, we gain access to their expertise in manufacturing washing machines, allowing us to offer a wider range of high-quality products to our customers. "Resojet is excited for this partnership, together we shall bring more value for our customers & also further strengthen groups association for various other consumer electronics & durable products, a Radiant group spokesperson said. Earlier in January, Amber Group had announced

Vedanta's Sterlite to transfer three power projects to GIC venture

The projects are still under development and the transfer into the Sterlite Grid 32 Ltd. joint venture has been agreed, the people said, asking not to be identified because the matter isn't public

Samara, Amazon-backed More Retail stake sale gets lukewarm response

The joint venture was looking to raise funds at $2 bn valuation

Godrej plans stake sale in food JV; in talks with potential investors

In talks with potential investors, including PE firms; valuation of company not disclosed

How will Reliance-Disney JV shape up, what will happen with media industry

"The whole narrative will change from TV is dying to TV-plus-digital is the future," says an industry observer

JSW Steel forms JV with Japanese firm to produce steel variety in India

New company will be set up with a planned investment of Rs 5500 cr

Reliance, Bodhi Tree discuss 60% stake in Disney India merger talks: Rpts

Under the deal, Viacom18, the broadcast division of Ambani's Reliance Industries will merge with Disney India businesses