Page 57 - CO January 2022
P. 57

TICKER TAPE

                DILIP BUILDCON LTD RECEIVES PROVISIONAL        bill, it can also provide energy security by reducing the overall
              COMPLETION CERTIFICATE FOR ROAD PROJECT IN       dependence on fossil fuels. It is also expected to provide a green
                            ANDHRA PRADESH                     alternative for “hard-to-abate” industries, like refineries, fertilizers,
           Dilip Buildcon Ltd has announced that the project ‘Six laning of   steel and transport. It is anticipated that green hydrogen demand  INFRASTRUCTURE
           Anandapuram-Pendurthi-Atrakapali section of NH-5 (new NH-16)   in India for applications such as refineries, fertilizers and city gas
           from Km.681.000 (Existing Km. 681.000) to Km.731.780 (Existing   grids will grow up to 2MMTPA by 2030 in line with the nation’s green
           Km.742.400) (Design Length - 50.780 km) in the State of Andhra   hydrogen mission. This would call for investments upward of $60
           Pradesh under Bharatmala Pariyojana on Hybrid Annuity Mode’   billion. L&T, with its deep expertise and experience in engineering
           has been provisionally completed. The Provisional Completion   and construction of projects, and ReNew, with its experience
           Certificate has been issued by the authority and had declared   in the development of renewable energy projects, are market
           the project fit for entry into commercial operation as on November   leaders in their respective sectors and this synergistic partnership
           08,2021.                                            is committed to tapping this emerging opportunity.

           L&T TIES WITH RENEW TO FOCUS ON GREEN HYDROGEN        COASTAL CORPORATION LTD STARTS WORK ON `150
                            BUSINESS IN INDIA                          CRORE ETHANOL PROJECT IN ODISHA
           Larsen & Toubro Ltd has announced a partnership agreement to   Coastal Corporation Limited one of the oldest and leading export-
           tap the emerging green hydrogen business in India. Under this   oriented shrimp processor, announced that it started work on its
           agreement, L&T and ReNew will jointly develop, own, execute and   Ethanol Plant. Hon. Chief Minister of Odisha, Shri Naveen Patnaik,
           operate green hydrogen projects in India.           performed Ground Breaking Ceremony (Bhoomi Pujan) at Maringhi
           Commenting on this partnership, S N Subrahmanyan, CEO & MD   Village, Gajapati District, Odisha. Coastal Biotech Private Limited,
           of Larsen & Toubro said, “This partnership with ReNew is a significant   a wholly owned subsidiary of Coastal Corporation Limited will set
           milestone in the journey towards building a green energy portfolio   up an ethanol project with an installed capacity of 198,000 KLPD
           for L&T. It is synergistic and brings together the impeccable track   spread across 30 acres of land at an estimated capex of `150
           record of L&T in designing, executing, and delivering EPC projects   crore. The plant is likely to commence production by March 2023.
           and the expertise of ReNew in developing utility-scale renewable   The Engineering, Procurement and Construction (EPC) contract is
           energy projects. We believe that green hydrogen is a promising   given to Excel Engineering, Pune.
           alternate fuel and an important lever for achieving a cleaner   Commenting on this auspicious occasion, T Valsaraj, Managing
           future. L&T is extremely keen to add value in this space beyond   Director & Vice Chairman, Coastal Corporation Limited said,
           the traditional EPC approach and is looking forward to working   “We are honoured that Shri Naveen Patnaik, Hon. Chief Minister
           with ReNew.” “We are delighted to be partnering with L&T for the   of Odisha, Government of Odisha performed Ground Breaking
           green hydrogen business. Green hydrogen will be a key driver of   Ceremony (Bhoomi Pujan) of Ethanol Project in the presence of
           the transition to cleaner sources of energy and this partnership   several other dignitaries on the occasion. We are committed and
           between ReNew and L&T, will allow both companies to pool their   are working for national development as the Ethanol Blended in
           knowledge, expertise and resources to take maximum advantage   Petrol (EBP) measure is not only aimed at reducing the country’s oil
           of this transition. I expect this partnership to set new benchmarks in   import bill and carbon dioxide pollution but also improve energy
           the Indian renewable energy space and took forward to working   security and selfsufficiency measures.”
           together with L&T,” ReNew’s Chairman & CEO Sumant Sinha said,
           in a media statement.                               Update on Kakinada Expansion Project:
           “We are pleased to begin our journey with ReNew. This partnership   •   Integrated Cold Chain project at KSEZ, Kakinada, A.P. is
           will strategically place L&T and ReNew in a position to offer green   spread across 10 acres to commence production in January
           hydrogen solutions to the industry. We are already looking at   2022.
           some interesting opportunities in the Indian market for’ green   •   New capacity of 35 MTPD will widen the value added product
           hydrogen and we intend to capitalize on them by developing   basket into breading / marinated products which is high
           end-to-end competitive solutions. In that effort, we are excited   margin product.
           to secure a partnership with ReNew who brings its renewable   •   The company is quite confident that this greenfield unit will
           energy development expertise to the table. Combined with our   take the company to the next level of growth by almost
           expertise in the EPC space, I am confident that this partnership   doubling its production from the existing 23-25 tons per day
           will contribute to a sustainable and eco-friendly profitable growth.”   levels to around 45-50 tons per day.
           Subramanian Sarma, Whole-time Director & Sr. Executive Vice
           President (Energy), Larsen & Toubro said on this occasion.  Business Update:
           Green hydrogen produced by splitting water into hydrogen and   •   New Shrimp processing facility at Haridamada, Khordha
           oxygen in an electrolyzer by using renewable-powered electricity   Odisha at an estimated capex of `40 crores.
           can enable the world to meet its net zero emissions targets. Many   •   Brownfield expansion at Odisha with additional capacity of
           countries, including India (through its National Hydrogen Mission),   35 MTPD will further widen the value added product basket.
           have announced specific policy interventions to push for the   •   Installed Captive Solar Power Plant - 3.6 MW at capex of `14
           widespread adoption of green hydrogen.                  crore resulting into reduction of per unit power cost from `7-8
           For countries like India, with its ever-increasing energy import   to I`3-4 per unit (NET savings of approx. `4 crore annually).


                                                                           JANUARY 2022|CONSTRUCTION OPPORTUNITIES  57
   52   53   54   55   56   57   58   59   60   61   62