24 October 2019

Table of Contents for Ticker Tapes





International

CHINESE FIRM TO INVEST $150 MN IN UTTAM GROUP’S PROJECT

Uttam Group signed an investment agreement of $150 million with Chinese firm Tidfore Heavy Equipment Group Co Ltd. The investment will be in the form of equity for Uttam Group’s Wardha Expansion Project undertaken in unification with Posco. Owing to the expansion, its Wardha Steel Complex will become an integrated steel unit with capacity of 1.50 million tonnes per annum.

 

FOREIGN COMPANIES READY TO PARTNER HPCL-GAIL JV

An equal joint venture of HPCL and GAIL is planning to build a petrochemicals complex at Kakinada in Andhra Pradesh at an estimated cost of about Rs 30,000 crore. The joint venture is now seeking to induct a third partner and HPCL and GAIL may jointly hold 50% share in the project. The petrochemicals plant, which will use both natural gas and liquid feeds, may take about four years from financial closure to build.

 

PIRAMAL TO ACQUIRE ASH STEVENS INC FOR $53 MN

Billionaire Ajay Piramal-controlled Piramal Enterprises has entered into an agreement to acquire the entire stake in US-based Ash Stevens, a Contract Development and Manufacturing Organisation (CDMO in an all cash deal of $42.95 million and an earn-out consideration capped at $10 million. This transaction is likely completed by the end of August. This acquisition of Ash Stevens fits well with the company’s strategy to build an asset platform that offers value to their partners and collaborators.

 

$3 BILLION TALL TOWER IN NEW YORK

Extell Development Company and SMI USA - the US subsidiary of Shanghai Municipal Investment will co-develop Central Park Tower which will stand 472m-high and be the tallest in New York City.

This strategic alliance with brings two international industry leaders with a track record of creating iconic global skyscrapers. The developers say that Central Park Tower will be the tallest residential building in the Western Hemisphere. Architect for the scheme is Adrian Smith + Gordon Gill Architecture, whose credits include the Burj Khalifa in Dubai and Kingdom Tower in Saudi Arabia – which will be the world's tallest building.

 

SCAPE APPOINTS PERFECT CIRCLE

Public sector procurement group Scape has appointed Perfect Circle, a consortium comprising Pick Everard, Gleeds and Aecom, to lead its new national built environment consultancy services (BECS) framework which unites and extends the services that are available under two of Scape’s existing frameworks: the national asset management, surveying & design services framework and the national project management and quantity surveying framework. According to Scape, its BECS framework, worth up to £350m over the next four years is said to offer the broadest range of consultancy services available to the public sector. Perfect Circle has also specifically committed to creating opportunities for micro businesses.

 

WATES CONSTRUCTION SIGNS £20.2M CONTRACT

Regal (West Point) Ltd’s new Left Bank residential tower will rise to 22 storeys and house 189 apartments, with retail space on the ground floor. Designed by Glancy Nicholls Architects, the 11,905 m2 Left Bank development is on Birmingham’s Broad Street. Work is to be completed by summer 2018. Wates is already building a speculative office development at Phoenix House on Newhall Street for Ardstone Capital in the same city and has recently completed the development of Eastside City Park and the fit-out of Gowling WLG’s new premises at Two Snowhill.

 

NEW AGREEMENT FOR SRI LANKAN PORT CITY

A three-party agreement between Sri Lanka’s Urban Development Authority, the Ministry of Megapolis and Western Development and the China Harbour Engineering Company has put the US$ 1.4 billion project that stalled last year following environmental concerns back on track. The project has been renamed the Colombo International Financial City, will help transform the country into a financial hub in the Indian Ocean region. The city, under the new agreement has been expanded to 269 hectares and will now include central parks and public beaches. It is also expected to create thousands of jobs in the country.

 

PLANT IN KENT TO CONVERT HOUSEHOLD WASTE INTO STEAM AND ELECTRICITY

The £340m facility will divert 550,000t of waste a year from Kent and the South East of England. The waste otherwise sent to landfill sites or have been exported to Europe for treatment. The facility has also been designed to provide steam for a neighbouring paper mill and will generate 43MW of electricity at full capacity. The Wheelabrator Kemsley facility is scheduled to begin operations in 2019.




Leave a Comment

Name  
Email Address
(will not be published)    
Website
Comment