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World Bank to fund $500 Mn ‘green’ highways project in India mojo4industry Industrial News Bulletin

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Industrial News Bulletin – 23rd December’20 Headlines for the Industry News Today:

Highlights
• World Bank to fund $500 Mn ‘green’ highways project in India
• Karnataka approves electric vehicle manufacturing projects of about Rs 23,000 Cr
• GMR Infra gets approval from stock exchanges on proposed demerger plan
• Vikram Solar commissions rooftop solar plant at its manufacturing facility near Kolkata
• EXCON 2021 to be held in Bengaluru from December 7-11, 2021

World Bank to fund $500 Mn ‘green’ highways project in India

The Government of India and the World Bank on Tuesday signed a $500 million project to build safe and green national highway corridors in the states of Rajasthan, Himachal Pradesh, Uttar Pradesh and Andhra Pradesh.

The project will also enhance the capacity of the Ministry of Road Transport and Highways in mainstreaming safety and green technologies.

The Green National Highways Corridors Project will support the Ministry construct 783 km of highways in various geographies by integrating safe and green technology designs such as local and marginal materials, industrial byproducts, and other bioengineering solutions. The project will help reduce greenhouse gas emissions in the construction and maintenance of highways.

Karnataka approves EV manufacturing projects of about Rs 23,000 Cr

The Karnataka government on Monday said that it has approved investments of Rs 22,419 crore of three different proposals involving electric vehicle (EV) and lithium-ion battery manufacturing that have the potential to create more than 4,500 new jobs.

Two proposals of Elest Private Limited of Rs 14,255 crore and Rs 6,339 crore and one proposal of Hyunet Private Limited of Rs 1,825 crore are cleared by the Chief Minister-led State High Level Clearance Committee.

GMR Infra gets approval from stock exchanges on proposed demerger plan

GMR Infrastructure on Monday said it has received consent from stock exchanges, with no adverse observations, on its proposed restructuring involving demerger of its non-airport vertical business. The company said it will file the scheme with the NCLT within six months.

The company said it had filed an application to “the BSE and NSE towards the Composite Scheme of Amalgamation and Arrangement amongst GMR Power Infra (GPIL), GMR Infrastructure (GIL), GMR Power and Urban Infra (GPUIL) and their respective shareholders (Scheme).”

Vikram Solar commissions rooftop solar plant at its manufacturing facility near Kolkata

Vikram Solar commissioned a 919.73 kWp rooftop solar project on its manufacturing facility in Falta near Kolkata earlier this month.

The solar plant will cater to more than 27% of the entire manufacturing unit’s electricity consumption during normal day time operation.

Saibaba Vutukuri, CEO of Vikram Solar informed that the project will result in a total saving of about Rs. 98.8 lakhs per annum on the company’s energy bill.

EXCON 2021 to be held in Bengaluru from December 7-11, 2021

The Confederation of Indian Industry (CII) has announced that the 11th edition of EXCON, India’s premier and South Asia’s largest construction equipment and construction technology trade fair, will take place in Bengaluru during December 7-11 next year.

Arjun Ram Meghwal, Union Minister of State for Parliamentary Affairs and Heavy Industries & Public Enterprises launched the EXCON 2021 and said that the construction equipment industry has tread the growth path in the last quarter. He also mentioned that an area of 325 acres have been earmarked at automotive testing center in Indore for testing construction equipment machinery. He urged industry to make use of the facility.

Excon 2021 would be attracting over 1,300 exhibitors including 400 companies from abroad representing 6 country pavilions from Germany, Italy, Turkey, South Korea, UK and China. The show is also expected to attract over 60,000 business visitors from India and abroad.

 

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