If the German group does not change its stand, the mega project could be heading for a single foreign vendor situation with South Koreas Daewoo Shipbuilding and Marine Engineering as the only contender.
India Business News: Equity indices surged to record highs on Friday with the benchmark BSE sensex crossing the physiological mark of 55,000 led by gains in banking and fi
This order marks the opening of multiple avenues for L&T Heavy Engineering for critical titanium-clad reactors in both domestic and global markets, the company said. The scope of supply involves the design, material procurement, fabrication, inspection and testing of reactor meeting the licensors stringent quality requirements.
The probe follows complaints by a group of employees who alleged that the company deducted contributions from their salaries with the assurance of giving them equity shares of Larsen & Toubro, Indias biggest engineering conglomerate, but instead gave them redeemable preference shares of LandT Welfare Co.
Sources in the know told ET that struggling renewable energy developer ACME Solar was the seller of the solar project for ₹1,865 crore. ReNew had not disclosed the seller in its release.