Latest news with #MGL
Business Standard
22-05-2025
- Automotive
- Business Standard
Himadri Speciality Chemical acquires 16.24% stake in International Battery Company Inc.
Himadri Speciality Chemical (HSCL) has announced a strategic investment of USD 4.43 Million (approx. ₹ 37.47 crore) to acquire a 16.24% stake in International Battery Company, Inc (IBC), a U.S. headquartered technology developer and manufacturer of chemistry-agnostic prismatic Lithium ion (Li-ion) cells. The investment, made through a combination of preferred and common shares, gives Himadri representation on IBC's board. This is a significant milestone for Himadri, marking the start of the commercial deployment of its LFP Cathode active and anode materials. IBC is a leading innovator in prismatic cell technologies designed for energy storage and mobility applications across global markets. It operates a 50MWh lithium-ion battery cell facility in South Korea, which began production in 2023, and is developing a Gigafactory in Bengaluru, India, through its Joint Venture with Mahanagar Gas Limited (MGL is a Subsidiary of GAIL)- IBC India Pvt Ltd wherein MGL owns a 44% stake. The Bengaluru Gigafactory is scheduled to commence operations by Q4 FY26. Through IBC India Pvt Ltd, the company aims to play a pivotal role in India's energy transition. The Bengaluru facility will cater to last-mile B2B fleet providers and 2- and 3-wheeler OEMs, while also supporting global battery cell exports. IBC has already penetrated the EV market with over 500 EVs already running satisfactorily on its battery packs made using its NMC-based Prabal 1000 (NMC-622 cathode chemistry) Li ion cells currently manufactured in South Korea. IBC has an open order book of 4,300 electric 2-wheelers from six customers. Through the Bengaluru Gigafactory, IBC is also poised to cater to the captive energy demand from MGL's vehicles. IBC is presently developing its LFP-based Prabal 2000 using Himadri's LFP cathode active and anode materials with a robust product roadmap through the partnership with Himadri in play. Through this alliance, Himadri gains strategic access to IBC's robust manufacturing infrastructure in South Korea and its upcoming Gigafactory in Bengaluru, enabling commercial testing and deployment of its New Energy Materials. This partnership also opens the doors for Himadri to further enhance its global reach by tapping into IBC's rapidly expanding customer base across the U.S., India, and East Asia. In return, IBC secures a reliable supply of high-quality anode and cathode materialscritical to battery performance and costwhile benefiting from Himadri's deep expertise in materials science, supply chain management, and global market presence. The collaboration is further strengthened by access to IBC's proprietary Industrial AI platform, which will drive faster innovation and co-development of advanced materials. Importantly, the successful commercialization of Himadri's LiB materials through IBC's platforms will open up significant global market opportunities, positioning Himadri as a key supplier in the international battery materials value chain.
Time of India
20-05-2025
- Business
- Time of India
Govt clears Deonar landfor 600cr biogas plants
Mumbai: The state has approved the handover of 18 acres of land at Deonar by the BMC to Mahanagar Gas Ltd (MGL) for the establishment of 1,000 TPD (ton per day) compressed bio-gas plants in two phases. MGL is expected to invest over Rs 600 crore in constructing and operationalising the plants, which will process 1,000 ton of wet waste per day. MGL is expected to earn around Rs 74 crore annually through the sale of the produced gas. The state cabinet, chaired by chief minister Devendra Fadnavis, on Tuesday approved the allotment of the plots to MGL at a concessional rate. The central govt aims to set up 500 biogas projects, including 75 bio-methanation projects, in urban areas under the Gobardhan scheme. While the cost of setting up these projects will be borne by oil and gas marketing companies, the central govt has directed states to provide land and basic facilities at a nominal rate for the projects. The BMC proposed to relax the condition regarding the reserve price of the plots and sought the state's approval. The consolidated reserve price of the land is over Rs 132 crore. The state approved handing over the land to MGL for a lease rent of Rs 72,843 per year for two plots for 20 years and an extended five-year period. An MoU was signed between BMC and MGL in June 2023. Deputy municipal commissioner (solid waste management) Kiran Dighavkar said the BMC will benefit from the project as a huge quantity of wet waste generated in the city will be processed. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo Minor encroachments will have to be cleared before handing over the plot for phase 1, which is located on the outskirts of the dumping ground, where a BMC garage for bulldozers and excavators is housed. For phase 2, which is being allotted at the dumping ground, there is a need for carrying out bio-mining on the land to clear it, which will be carried out soon, an official said. Wet waste generated from hotels, restaurants, banquet halls, and vegetable waste from vegetable markets will be segregated before being supplied to the plant. Each of the bio-gas plants will produce 18 ton of compressed biogas per day. The biogas, purified and compressed, can also be used as auto fuel. Though the project entails the use of 500 ton per day in each phase, provisions have been made for a 10% increase. Source-segregated wet waste will be provided free by the BMC.
Indian Express
20-05-2025
- Business
- Indian Express
MGL to get 18 acres in Deonar for biomethanation plant, under Gobardhan scheme
The Maharashtra Cabinet on Tuesday approved the allotment of 18 acres of land in Mumbai's Deonar area to Mahanagar Gas Limited (MGL) at a concessional rate for setting up a compressed biogas plant. The decision, taken at a cabinet meeting chaired by Deputy Chief Minister Devendra Fadnavis, is in line with the Centre's Gobardhan scheme, which aims to establish 500 biogas projects across urban India, including 75 biomethanation plants. While the capital costs for these projects will be borne by oil and gas marketing companies, states have been instructed to provide land and basic infrastructure at nominal rates. The state has cleared the proposal to lease the Deonar land to MGL for a 25-year period. The project will have a daily biomethanation capacity of 500 tonnes and will produce compressed biogas for commercial use. The annual lease fee for the land has been fixed at Rs 72,843. A Memorandum of Understanding (MoU) will be signed between Brihanmumbai Municipal Corporation (BMC) and MGL to formalise the arrangement. Officials said the project is expected to help manage solid waste sustainably while also contributing to green energy production in the city.
Time of India
18-05-2025
- Business
- Time of India
BMC awaits state's nod for Deonar biogas land transfer
Mumbai: The BMC is awaiting approval from the state govt to hand over about 18 acres of land in Deonar to Mahanagar Gas Limited (MGL) for the development of a compressed biogas (CBG) plant. The facility will process 1,000 ton per day (TPD) of wet waste supplied by the civic body. According to BMC officials, the proposal is currently under review by the state. The project will be implemented in two phases: in the first phase, a 500 TPD plant will be established on an 8-acre plot; in the second phase, another 500 TPD plant will be built on a 10-acre plot, both in Deonar. The Union govt is focusing on the production of compressed biogas using municipal waste. Accordingly, the civic body was asked to establish a project. An MoU was signed between BMC and MGL in June 2023 for setting it up. The BMC has identified two plots for phases 1 and 2 at Deonar. While land for phase 1 will be allotted on a plot where a BMC garage for bulldozers and excavators is housed on the outskirts of the dumping ground, land for the second phase is being allotted inside the dumping ground. The civic body had sought the approval of the state to hand over the plots to MGL at concessional rates. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Tukarkan Bitcoin dan Ethereum - Tanpa Dompet Diperlukan! IC Markets MULAI SEKARANG Undo The project will be implemented without any cost to the BMC. The capital expenditure and expenditure on operations and maintenance will be borne by the operator of the plant. The operator will have rights over the compressed biogas, fertilizers and the byproducts produced at the plant. The civic body will not charge a fee for providing the wet waste required for the plant. Wet waste generated from hotels, restaurants, banquet halls, and vegetable waste from markets will be collected and segregated before being supplied to the plant. After work on the CBG project is completed, there will be three other phase: a biomass waste treatment plant, organic fertilizer production plant and a green fuel production plant.
Time of India
18-05-2025
- Automotive
- Time of India
BEST should use money from fare hike to buy 1,000 CNG buses, says think tank
The recent increase in BEST ticket prices, which resulted in doubling of minimum distance fares for AC and non-AC buses, is expected to add Rs 1 crore daily to the revenue of the undertaking. Transport analysts from the Mumbai Mobility Forum (MMF), a think tank, this week petitioned BEST demanding addition of 1,000 CNG buses to the fleet in the coming weeks. They highlighted that each CNG bus can be acquired for less than Rs 1 crore compared to the significantly higher cost of e-buses. 'It is projected that this move will enhance frequency and alleviate the ongoing bus shortage, improve frequency and reduce wait at stops. This step is viewed as crucial for BEST to retain its customer base and daily ridership,' said Ashok Datar from the forum. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai The current BEST fleet of around 2,800 buses caters to 33 lakh to 35 lakh passengers daily across Mumbai and neighbouring Thane and Navi Mumbai. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 35 & Earning? Protect Your Family with ₹1 Cr Life Cover ICICI Pru Life Insurance Plan Get Quote Undo 'CNG buses offer a substantial cost advantage, timely delivery, and match seamlessly with the existing infrastructure that can accommodate up to 4,000 buses within Mumbai,' said Datar. He said that such a procurement would ensure an increased number of buses on the roads as the fleet had gone below the 3,000 mark last year and further below 2,800 buses early this year. Toay, commuters have to wait at stops for as long as 30 to 40 minutes. 'In the absence of buses arriving at the stops, the commuters may opt for share autos whose fares are at par with the revised bus fares. This could be detrimental to BEST. So in a way, if the bus strength goes up due to the CNG buses, the frequency will be maintained on busy routes and commuters will get buses on time, and refuse to migrate to other modes of transport,' said a transport analyst. A source in Mahanagar Gas Limited (MGL) said that BEST's CNG infrastructure spans 15 depots, with the current capacity to fuel over 4,000 buses each day. 'Currently, BEST has around 1,900 CNG buses in its fleet and can readily accommodate 2,100 more with the available infrastructure. They can procure these additional CNG buses and operate them efficiently,' said the MGL. CNG buses have demonstrated consistent reliability and safety in Mumbai's urban transport for several years. According to Datar, CNG buses can be purchased for Rs 65 lakh in contrast to electric buses, which may cost up to Rs 1.6 crore. 'I am not against e-buses, but the last year has seen delivery delays causing continued shortages in the fleet. BEST can accelerate the procurement of CNG buses, which are environmentally friendly as well as straightforward to operate and maintain. At least 1,000 CNG buses should be added to the fleet,' said Datar. Another member of the forum said there was a need to have a pragmatic mix of CNG, electric, and other-fuel-run buses. BEST officials said they were planning a 100% electric fleet for the future and around 8,000 bus fleet in the next two to three years. Unless the electricity is sourced from renewables, net carbon emissions remain unaddressed. In contrast, CNG buses are virtually non-polluting, cost a third as much and are simpler to maintain. Transport activists are against full transition to electric buses. In several instances, electric buses cannot complete the 180 km daily requirement. After completing 60% of their journeys, recharging is needed, forcing buses off the roads, which is undesirable. In such cases, the buses would be idle at the depots for recharging while passenger wait would increase at the stops it caters to, said the activists.
