Latest news with #USV
India.com
5 days ago
- Business
- India.com
Who is Leena Tewari? Meet woman who bought India's most expensive flats in Mumbai for Rs…, her business is….
The cost of flats in various Indian cities is soaring, with Gurugram and Mumbai at the center of the discourse. In Gurugram, penthouses, flats, and apartments are being sold for Rs 125–150 crore and even higher in some cases. But did you know that the most expensive flat in India is in Mumbai? You guessed it! The record-breaking sale for India's most expensive flat occurred this year at the end of May. And, of course, it was in Worli, Mumbai. But do you know who the owner of this ultra-luxury flat is and what price was paid? Who is the billionaire owner who bought India's costliest flats? India's costliest flat was acquired in May by Leena Tewari. Leena purchased two luxury duplexes near the sea in Worli, Mumbai, for Rs 639 crore. She also paid Rs 63.9 crore as stamp duty and GST, bringing the total cost to roughly Rs 703 crore. The duplex apartments cover 22,572 sq ft from the 32nd to the 35th floor of the 40-storey Naman Xana building at Worli Sea Face, which has views of the Arabian Sea. According to the media reports, the cost works out to over Rs 2.83 lakh per sq. ft. on carpet area. How much did Leena pay for these premium properties? Leena Tewari paid more than Rs 63.9 crore in stamp duty and Goods & Services Tax (GST) to register the properties. She is the granddaughter of Vithal Balkrishna Gandhi, who founded USV Private Limited. In 1961, her grandfather established the company in collaboration with Revlon, and it has held its position as a leading pharmaceutical and biotechnology company in India. What record did this purchase set in the Indian real estate market? According to Forbes, Leena Tewari's real-time net worth is $3.9 billion. Presently, she is the 964th richest person in the world. In 2023, Forbes India ranked her as the 45th richest Indian woman. She is wealthier than Biocon's Kiran Mazumdar-Shaw and Nykaa's Falguni Nayar. Her net worth was estimated to be $3.7 billion in 2023. Leena is the Chairperson of Mumbai-based pharmaceutical company, USV India. USV went international with the purchase of the German generics company Juta Pharma in 2018. Leena's daughter Aneesha Gandhi Tewari, who has a Ph.D. in molecular biology from MIT, joined the USV board in 2022. Leena was born in suburban Mumbai on March 9, 1957. After studying commerce at the University of Mumbai, she completed an MBA at Boston University. Leena eventually returned to India, where she continued to run the family business. According to Forbes, USV specializes in diabetic and cardiovascular drugs, with a diverse portfolio that includes biosimilar drugs, injectables, and active pharmaceutical ingredients (APIs). According to the official website of USV, its mission is to continue to be recognised as a reliable provider of healthcare products and services by customers the world over. It aims to create and sustain a work environment that values people, promotes learning, nurtures innovation and leads to collective excellence.
Yahoo
15-07-2025
- Yahoo
Ukraine fielding new crop of unmanned boats optimized for river combat
MILAN — Ukraine's fleet of unmanned surface vessels is expanding with the emergence of a new, smaller type dedicated to riverine warfare for countering Russian presence in key waterways. Ukrainian firm NoviTechNe debuted this month a new one-meter-long USV dubbed the Ursula, according to United24 Media, a government-run news website focused on Ukraine. The multi-function system is said to be able to conduct river reconnaissance, act as a floating mine or as a drone carrier to launch two-kilogram, first-person-view drones from the water. In a video published by the manufacturer, the naval drone is seen maneuvering through riparian vegetation while carrying what appears to be a small FPV drone. The Ursula is not the first USV of this type that Ukrainian companies are experimenting with. Over the winter, Brave1, a government defense-technology hub tasked with getting new capabilities field-ready, reported that Ukrainian troops were trialling the Black Widow 2. The system, which also measures roughly one meter in length, has a reported payload of three kilograms and a range of 10 kilometers. What makes these riverine naval drones stand out is their low profile and compact size, especially in comparison to the much larger USVs Ukraine typically uses, such as the Magura variant and Seababy, that measure up to six meters. 'Ukraine's focus on developing these brown-water USVs stems from the need to counter Russian activities along the Dnipro river basin, especially in the Kherson area – they had to develop specific capabilities and units to navigate a vast network of canals and attack the adversary,' Federico Borsari, fellow for transatlantic defense at the Center for European Policy Analysis, said. Ukrainian forces could, for example, use these platforms to carry and launch an FPV from unfamiliar spots in proximity to Russian positions along the low Dnipro river or even to strike slower enemy resupply boats. According to Borsari, the smaller size of such USVs, although at the expense of a larger payload capability, is better suited for river channels as they can be more agile and maneuverable for defensive and discreet offensive missions. Size is the most important metric, he argues, when developing systems intended to operate in shallow waters. Rivers such as the Dnipro, of which 981 kilometers flow through Ukraine, have played a central role throughout the war, acting as natural defensive lines. Their bridges have been vital targets and chokepoints that both sides have tried to take advantage of. Riverine capabilities bring their own set of tactical challenges. They often include natural obstacles such as sandbanks, vegetation, branches or tall groves, which can make navigation more challenging and prone to interference. Water levels also change frequently, which makes navigation unpredictable.
Gulf Today
09-07-2025
- Business
- Gulf Today
ASM secures Dhs760 million financing facility from ADCB
Al Seer Marine (ASM), a subsidiary of IHC, has secured Dhs760 million ($207 million) financing facility from Abu Dhabi Commercial Bank (ADCB). The eight-year facility is secured through first-priority mortgages over a selected group of operating vessels, reinforcing the company's capital efficiency and asset-backed growth strategy. ADCB, acting as sole underwriter and Mandated Lead Arranger, extended the facility on highly competitive terms-marking the second major transaction between the two organisations. In early 2025, ADCB provided an Dhs210 million ($57 million) facility to ASBI Shipping, the joint venture between Al Seer Marine and B Shipping, to support the acquisition of small and midsize LPG tankers. 'We're proactively optimising our capital structure to unlock high-value, high-growth opportunities and reinforce our role as a powerhouse in delivering the UAE's maritime vision. With this funding arrangement, we're well-placed to serve the country's momentum to accelerate investment across LNG, LPG, crude oil, and petrochemicals. ADCB's continued partnership reflects deep institutional trust in our long-term strategy,' said Guy Neivens, Chief Executive Officer of Al Seer Marine. Al Seer Marine has steadily earned the confidence of top-tier financial institutions, securing support from local leaders. The company has leveraged this financial backing to develop a resilient, future-ready fleet while advancing strategic investments across multiple sectors, including naval shipbuilding, autonomous Unmanned Surface Vehicle (USV), the world's largest 3D printer, and more. Meanwhile in May Al Seer Marine (ASM), a frontrunner in advanced maritime solutions and a subsidiary of International Holding Company (IHC), has secured a production agreement valued at Dhs47.6 million to deliver high-speed interceptor vessels to Albwardy Damen (Damen Shipyards Sharjah – DSSh). Delivery will span 42 months, with the units slated for integration into offshore patrol vessels (OPVs). All vessels will be designed, built, and outfitted entirely in the UAE, in alignment with the country's 'Make it in the Emirates' industrialisation initiative. 'The global OPV market is projected to grow from $38.1 billion in 2024 to $73.3 billion by 2033, at a CAGR of 7.15 per cent, according to a recent report published via GlobeNewswire—positioning it as one of the highly profitable segments in the shipbuilding industry,' said Guy Neivens, CEO of Al Seer Marine. He added, 'With our long-term strategic vision, we anticipated this trajectory early, driving targeted investments in our technologies, infrastructure, and engineering depth to establish the naval shipbuilding vertical as a core driver of our revenue growth, portfolio diversification, margin resilience, and long-term value creation for our investors.' The move comes in response to accelerating global and regional demand for OPVs, particularly in the Middle East, where maritime security and naval capability development have become national imperatives. In 2024, Al Seer Marine reported operational profits of Dhs107 million on revenues exceeding Dhs1.28 billion. The new production mandate is expected to enhance financial performance over the contract period and further strengthen the company's shift toward high-value, IP-driven manufacturing and defence export capabilities within the UAE. Earlier in October 2024 Al Seer Marine, a frontrunner in the maritime industry and a subsidiary of International Holding Company (IHC), announced that it has secured $80 million in financing from BOCOM Financial Leasing, (BOCOM Leasing), a subsidiary of the Bank of Communications, one of China's largest commercial banks, for its newly delivered MR tankers, Betelgeuse and Bellatrix. This transaction represents the first financing that Al Seer Marine has secured for its shipping fleet from outside the UAE. These two tankers have been built ready for alternative fuels such as Liquefied Natural Gas (LNG), ammonia, and methanol, ensuring compliance with the latest environmental regulations. With a deadweight of 49,757 MT each, both vessels are IMO II/III oil and chemical tankers designed to carry six fully segregated grades of cargo and have been fixed on five-year time charters (TC) to Reliance International DMCC. Guy Neivens, CEO of Al Seer Marine, said, 'Securing this financing from BOCOM Leasing is a key step in our strategy to diversify funding sources and strengthen our fleet with backing from both local and international financial institutions. It highlights the robustness of our financial performance, which continues to attract global investors like BOCOM. This deal reflects strong confidence in the future revenue potential of Al Seer Marine, driven by the expected rise in global demand for liquefied natural gas (LNG) and petrochemicals. As the world shifts towards sustainable energy sources, we are well-positioned to capitalise on these trends and drive sustainable growth for our company and its stakeholders.' WAM
Zawya
09-07-2025
- Business
- Zawya
Abu Dhabi Al Seer Marine secures $207mln facility from ADCB
Abu Dhabi-based Al Seer Marine, a subsidiary of International Holding Company, has secured 760 million dirhams ($207 million) financing facility from Abu Dhabi Commercial Bank PJSC (ADCB). The eight-year facility is secured through first-priority mortgages on a selected group of operating vessels, underscoring the company's asset-backed financing approach. The newly secured funds will be deployed across multiple sectors, including naval shipbuilding and autonomous unmanned surface vehicle (USV). (Writing by Brinda Darasha; editing by Daniel Luiz)
Arab Times
30-06-2025
- Politics
- Arab Times
Kuwait launches unmanned surface vessels to boost maritime security
KUWAIT CITY, June 30: Kuwait's First Deputy Prime Minister and Minister of Interior Sheikh Fahad Al-Yousef Saud Al-Sabah on Monday inaugurated the unmanned surface vessels (USV's) that have joined the fl eet of the Kuwait Coast Guard at the General Directorate of the Coast Guard. The inauguration ceremony was attended by Major General Ali Mesfer Al-Adwani, Acting Undersecretary of the Ministry of Interior and Major General Mujbil Fahd bin Shawq, Assistant Undersecretary for Border Security Sector, as part of a comprehensive plan implemented by the Kuwait Coast Guard to enhance maritime security through new technologies. Commodore Sheikh Mubarak Ali Al-Sabah, Director General of the Coast Guard, provided a detailed briefing on the advanced operational capabilities of the USV's, saying they can function autonomously for days without direct human intervention. He added that their pivotal missions include surveillance, continuous monitoring, interception of suspicious maritime targets, support for search and rescue operations, monitoring environmental pollution, protecting natural resources, and overall maritime security enforcement within Kuwait's territorial waters. The report highlighted that Sheikh Fahad also inspected the advanced maritime monitoring system currently being implemented. This system covers the entirety of Kuwait's maritime domain and integrates coastal radars, sensors, high-resolution cameras, and unmanned surface vessels under a unified command and control system powered by artificial intelligence. Additionally, Sheikh Fahad toured the maritime operations center, in addition to the control center that controls and operates the USV's, reviewing their operational mechanisms, monitoring systems, and the electronic network linking the maritime units with command centers. Sheikh Fahad praised the General Directorate of the Coast Guard for executing this major project, confirming that the launch of unmanned surface vessels represents a significant step forward in developing Kuwait's maritime security system through modern technologies. He noted that this initiative refl ects the Ministry of Interior's commitment to operational readiness and adopting solutions to protect the Kuwaiti coast's and territorial waters, thereby supporting national security, stability, and safeguarding Kuwait's national interests. (KUNA)
