Latest news with #GautamAdani-led
India.com
a day ago
- Business
- India.com
Jackpot for Gautam Adani as Adani Power wins Rs 24900000000 project in THIS state, company to set up…
Gautam Adani- File image New Delhi:In a major development, Gautam Adani-led Adani Power has announced that it has secured a Letter of Intent (LoI) from the Bihar State Power Generation Company Ltd (BSPGCL) to develop and operate a 2,400 megawatt greenfield thermal power plant in Bhagalpur District, Bihar. According to the company, the investment will be worth Rs USD 3 billion. The project is likely to play a pivotal role in pushing the state's industrial growth. 'We have won the bid to develop and operate a 2,400 MW thermal power project in Bihar. We will set up a new greenfield plant with an investment of USD 3 billion, which is expected to further aid industrialization in the state,' said S B Khyalia, CEO of Adani Power. Khyalia further added that the new plant would be an advanced, low-emission ultra-supercritical power station, designed to supply dependable, competitively priced, and high-quality power to the state. It is important to note that Adani Power is India's largest private thermal power producer. The company has installed thermal power capacity of 18,110 MW across 12 plants in various states, including Gujarat, Maharashtra, and Karnataka. Here are some of the key details: Adani Power emerged as the lowest bidder in a competitive tender process The company will supply 2,274 MW of energy to the North Bihar Power Distribution Company Ltd (NBPDCL) and South Bihar Power Distribution Company Ltd (SBPDCL) at a supply price of Rs 6.075 per KWh. The company is likely to receive the Letter of Award (LoA) soon, followed by the execution of a Power Supply Agreement (PSA) with the state utilities. The new facility will be a 3×800 MW ultra-supercritical power plant, built under the Design, Build, Finance, Own, and Operate (DBFOO) model. The first unit of the plant is scheduled to be commissioned within 48 months from the appointed date, and the last unit will be operational within 60 months. The project is set to generate significant employment According to the reports, the project will generate an estimated 10,000-12,000 jobs during the construction phase and 3,000 jobs once the plant is operational. Fuel for the power plant will be sourced from the allocated coal linkage under the Government of India's SHAKTI Policy.
News18
3 days ago
- Business
- News18
Larsen & Toubro bags Rs 15,000 cr order from Adani Power to set up power units
Agency: PTI New Delhi, Aug 11 (PTI) Larsen & Toubro (L&T) has secured an 'ultra mega" order from Adani Power to set up eight thermal power units with a combined capacity of 6,400 MW. Each unit will have a capacity of 800 megawatt (MW), the company said. L&T did not disclose the order value, but according to its classification, ultra mega orders are worth over Rs 15,000 crore. The order will be executed by L&T Energy – CarbonLite Solutions (LTECLS), the company's specialised business vertical for advanced power and low-carbon technologies. The scope of work encompasses the complete design, engineering, manufacturing, supply, and commissioning of Boiler-Turbine-Generator (BTG) packages, along with auxiliaries and associated mechanical, electrical and control & instrumentation (C&I) systems. Subramanian Sarma, Deputy Managing Director & President, L&T, said, 'In today's dynamic energy landscape, where India's demand for reliable and affordable power continues to grow, this order from the Adani Group reinforces our role as a leading partner in building the country's critical energy infrastructure." Part of Gautam Adani-led Adani Group, Adani Power is India's largest private sector thermal power producer with an installed capacity of over 18,000 MW. Larsen & Toubro is a USD 30 billion Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing, and Services, operating across multiple geographies. PTI ABI ABI DR DR view comments First Published: August 11, 2025, 16:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
06-08-2025
- Business
- Time of India
CCI okays Dalmia Bharat's proposal to acquire Jaiprakash Associates
NEW DELHI: The Competition Commission of India (CCI) on Tuesday approved Dalmia Bharat 's proposal to acquire the debt-laden Jaiprakash Associates Ltd (JAL), which is going through the insolvency resolution process. Under the provision of the Insolvency and Bankruptcy Code (IBC), an approval from the competition watchdog is a key requirement for submission of resolution plan to participate in the bidding process. Besides Dalmia Bharat, several other players that have shown their interest to acquire the debt ridden JAL, which operates from cement to real estate, hospitality to fertiliser plant. Players as billionaire Gautam Adani-led Adani Enterprises, Vedanta Group, Jindal Power, and PNC Infratech have also approached CCI to seek its nod for submission of their respective resolution plan to the lender's body Committee of Creditors (CoC). A Supreme Court's directive mandates obtaining CCI approval before the committee of creditors can vote on any resolution plan that qualifies as a combination under the Competition Act. "The proposed combination envisages 100 per cent acquisition of Jaiprakash Associates Ltd (JAL) by Dalmia Cement (Bharat) Ltd (acquirer) pursuant to a corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC)," the regulator said in a release. Dalmia Cement (Bharat) Ltd is a wholly owned subsidiary of Dalmia Bharat Ltd (DBL), which is the flagship company of the Dalmia Bharat Group. DBL is primarily engaged in the manufacture and sale of cement. On the other hand, Jaiprakash Associates operates in multiple sectors including cement, real estate, hospitality, and engineering, procurement and construction. JAL is engaged in diverse business activities viz, real estate, cement, hospitality, engineering, procurement, and construction. "Commission approves proposed acquisition of Jaiprakash Associates Ltd by Dalmia Cement (Bharat) Ltd," CCI said in a post on X. A similar combination notice has also been filed with the CCI by the Adani Group as part of the same insolvency process. JAL was admitted into the CIRP through the National Company Law Tribunal, Allahabad Bench, order dated June 3, 2024. It was taken to insolvency proceedings after the conglomerate defaulted on the payment of loans. Creditors are claiming a staggering Rs 57,185 crore. The National Asset Reconstruction Company Ltd (NARCL) leads the list of claimants after acquiring the stressed JAL loans from a consortium of lenders headed by the State Bank of India. JAL has major real estate projects like Jaypee Greens in Greater Noida, a part of Jaypee Greens Wishtown in Noida (both on the outskirts of the national capital), and the Jaypee International Sports City, strategically located near the upcoming Jewar International Airport. It also has three commercial/industrial office spaces in Delhi-NCR, while its hotel division has five properties in Delhi-NCR, Mussoorie, and Agra. JAL has four cement plants in Madhya Pradesh and Uttar Pradesh, and a few leased limestone mines in Madhya Pradesh. The cement plants, however, are non-operational. It also has investments in subsidiaries, including Jaiprakash Power Ventures Ltd, Yamuna Expressway Tolling Ltd, Jaypee Infrastructure Development Ltd, and several other and several other companies. Jaypee Group's Jaypee Infratech has already been acquired by Mumbai-based Suraksha Group through an insolvency process. Suraksha Group has to complete various stalled projects comprising around 20,000 apartments in Noida and Greater Noida.
News18
05-08-2025
- Business
- News18
CCI okays Dalmia Bharats proposal to acquire Jaiprakash Associates
Last Updated: New Delhi, Aug 5 (PTI) The Competition Commission of India (CCI) on Tuesday approved Dalmia Bharat's proposal to acquire the debt-laden Jaiprakash Associates Ltd (JAL), which is going through the insolvency resolution process. Under the provision of the Insolvency and Bankruptcy Code (IBC), an approval from the competition watchdog is a key requirement for submission of resolution plan to participate in the bidding process. Besides Dalmia Bharat, several other players that have shown their interest to acquire the debt ridden JAL, which operates from cement to real estate, hospitality to fertiliser plant. Players as billionaire Gautam Adani-led Adani Enterprises, Vedanta Group, Jindal Power, and PNC Infratech have also approached CCI to seek its nod for submission of their respective resolution plan to the lender's body Committee of Creditors (CoC). A Supreme Court's directive mandates obtaining CCI approval before the committee of creditors can vote on any resolution plan that qualifies as a combination under the Competition Act. 'The proposed combination envisages 100 per cent acquisition of Jaiprakash Associates Ltd (JAL) by Dalmia Cement (Bharat) Ltd (acquirer) pursuant to a corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC)," the regulator said in a release. Dalmia Cement (Bharat) Ltd is a wholly owned subsidiary of Dalmia Bharat Ltd (DBL), which is the flagship company of the Dalmia Bharat Group. DBL is primarily engaged in the manufacture and sale of cement. On the other hand, Jaiprakash Associates operates in multiple sectors including cement, real estate, hospitality, and engineering, procurement and construction. JAL is engaged in diverse business activities viz, real estate, cement, hospitality, engineering, procurement, and construction. 'Commission approves proposed acquisition of Jaiprakash Associates Ltd by Dalmia Cement (Bharat) Ltd," CCI said in a post on X. A similar combination notice has also been filed with the CCI by the Adani Group as part of the same insolvency process. JAL was admitted into the CIRP through the National Company Law Tribunal, Allahabad Bench, order dated June 3, 2024. It was taken to insolvency proceedings after the conglomerate defaulted on the payment of loans. Creditors are claiming a staggering Rs 57,185 crore. The National Asset Reconstruction Company Ltd (NARCL) leads the list of claimants after acquiring the stressed JAL loans from a consortium of lenders headed by the State Bank of India. JAL has major real estate projects like Jaypee Greens in Greater Noida, a part of Jaypee Greens Wishtown in Noida (both on the outskirts of the national capital), and the Jaypee International Sports City, strategically located near the upcoming Jewar International Airport. It also has three commercial/industrial office spaces in Delhi-NCR, while its hotel division has five properties in Delhi-NCR, Mussoorie, and Agra. JAL has four cement plants in Madhya Pradesh and Uttar Pradesh, and a few leased limestone mines in Madhya Pradesh. The cement plants, however, are non-operational. It also has investments in subsidiaries, including Jaiprakash Power Ventures Ltd, Yamuna Expressway Tolling Ltd, Jaypee Infrastructure Development Ltd, and several other and several other companies. Jaypee Group's Jaypee Infratech has already been acquired by Mumbai-based Suraksha Group through an insolvency process. Suraksha Group has to complete various stalled projects comprising around 20,000 apartments in Noida and Greater Noida. PTI HG KRH TRB (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: August 05, 2025, 20:00 IST News agency-feeds CCI okays Dalmia Bharats proposal to acquire Jaiprakash Associates Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
&w=3840&q=100)
Business Standard
04-08-2025
- Automotive
- Business Standard
Adani Group denies report of battery tie-up with China's BYD, Welion
The Adani Group on Monday clarified that it was not in talks with Chinese electric vehicle (EV) manufacturer BYD and battery maker Beijing Welion New Energy Technology for a potential collaboration in India. The statement came after Bloomberg, citing unnamed sources, reported that the Gautam Adani-led conglomerate was exploring a partnership with BYD to manufacture batteries in India as part of its clean energy expansion. An Adani Group spokesperson said: 'We categorically deny Bloomberg's report on 4 Aug 2025 suggesting a tie-up between the Adani Group and Chinese companies BYD and Beijing Welion New Energy Technology. This report is baseless, inaccurate and misleading." "The Adani Group is not exploring any form of collaboration with BYD for battery manufacturing in India. Similarly, we are not engaged in any discussions with Beijing Welion New Energy Technology for a partnership of any kind," the statement added. The Bloomberg report claimed that Adani was personally involved in the discussions, which it said had taken place as recently as last week. The report further claimed that any agreement would likely be routed through BYD's subsidiaries located in other countries, rather than its headquarters in Shenzhen, due to diplomatic tensions between India and China. The Adani Group is one of India's largest conglomerates with diversified interests across ports, power, renewable energy, airports, mining, data centres, and FMCG. While the Adani Group is not directly involved in the automobile sector now, it has shown interest in the electric mobility ecosystem through EV charging infrastructure and green hydrogen. In April 2024, Adani TotalEnergies E-Mobility Limited, a joint venture of Adani Group and French major TotalEnergies, announced that it was establishing EV charging networks across India, including agreements with Mahindra & Mahindra and MG Motor India to install DC charging points at dealerships and build large super-charging hubs. Shares of Adani Enterprises were trading at ₹2,369.35 apiece at 2.09 pm on the BSE on Monday.
