Suzlon Energy and Korean firm GS E&C have signed an initial pact to partner on India’s renewable energy business and the optimisation of related solutions. The Memorandum of Understanding (MOU) was exchanged during the India-Korea Business Forum in the presence of Union Commerce Minister Piyush Goyal and his Korean counterpart, Yeo Han-koo. Under the MoU, there will be cooperation on securing ageing wind farms and undertaking re-powering projects.
TVS Motor Company has announced its foray into the Zambian market, appointing Zamoto Manufacturing Ltd as its official distributor. The entry into Zambia is a strategic move to bolster its African footprint, and Zamoto Manufacturing will be responsible for sales, service, and spare parts network across the country, TVS Motor Company said in a regulatory filing. Hyundai Motor Company and TVS Motor Company on Monday said they have signed a joint development agreement to advance the development and commercialisation of electric three-wheeler solutions designed specifically to address India’s last-mile mobility needs. Under the agreement, Hyundai Motor will lead the design of and co-develop the electric three-wheeler (E3W) by leveraging its research and development expertise, advanced mobility technologies and human-centric design approach, the two companies said in a joint statement.
HCL Technologies (HCLTech) on Monday announced the appointment of Kimsuka Narsimhan as an independent director, effective immediately. A Chartered and Cost Accountant by qualification, Narsimhan brings over 35 years of experience in the consumer goods industry, having held senior leadership roles across finance, risk management, strategy, and business transformation with leading global organisations.
RailTel Corporation of India Ltd has received the Letter of Acceptance (LoA) from Municipal Corporation of Greater Mumbai. The LoA covers Provisioning, Configuration, Testing, Commissioning, and Operations & Maintenance of BMC Cloud Services. The estimated size of the order, as per LoA, is Rs 86,36,21,334/- (including tax).
South Korean tech giant NAVER Corp and India’s largest IT company, Tata Consultancy Services (TCS), on Monday inked a Memorandum of Understanding, one of 16 agreements signed at the India-Korea Business Forum to deepen bilateral cooperation. NAVER’s mapping and search solutions are currently developed, operated, and supported in-house by its teams in Korea.
Thomas Cook (India) and its group company, SOTC Travel, on Monday announced the launch of a trip cancellation cover due to visa rejection, in collaboration with ICICI Lombard. Under this cover, if a customer’s visa application (other than an immigrant or employment visa) is rejected, the company will indemnify the insured for non-recoverable advance payments toward accommodation and travel, including applicable official cancellation charges, Thomas Cook (India) said in a statement.
Sajjan Jindal-led JSW Steel has entered into a joint venture agreement with South Korean steel major POSCO to set up a 6 million tonnes per annum steel plant in Odisha, a statement said on Monday. The announcement was made at the India-Korea Business Forum in the national capital. India and Korea on Monday discussed revamping the existing free trade agreement, CEPA, to boost economic ties. In the statement, JSW Steel said that the land for the project has already been secured, and once commissioned, the project will be capable of manufacturing high-grade flat steel products for automotive and other applications.
Eimco Elecon (India) Ltd has announced the successful completion of a major land acquisition. Following the board’s initial approval in January, the company executed the formal Sale Deeds today, securing a substantial parcel of land in Kanjari, Gujarat. The acquisition is a strategic move intended to bolster the company’s long-term operational capacity and support its future business expansion plans. The transaction was finalised on a freehold basis, ensuring the company has full ownership rights to develop the site in line with its strategic requirements. Total Consideration of the deal ₹45,55,74,000 (exclusive of stamp duty and other statutory charges).
Carysil Ltd, a global leader in quartz kitchen sinks, has announced a significant upward revision to its manufacturing expansion plans. The company now intends to increase its annual installed capacity to 1.25 million units, up from 1 million. This move marks a strategic shift from the previously announced target of 1.1 million units, driven by advanced negotiations with the largest home improvement retail chains in the United States.