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India and Russia are joining forces for rare earth extraction and processing. Agreements have been signed for joint research and development. This collaboration aims to produce high-purity metals and compounds. It also includes developing technologies for permanent magnets. View More

New Delhi: India and Russia have taken concrete steps to collaborate on the extraction and processing of rare earths at a time when New Delhi is also deepening critical minerals cooperation with its Quad partners. A memorandum of understanding was signed last week between JSC Giredmet , part of Russian nuclear major Rosatom's scientific division, and India's Nexon Geochem Pvt Ltd for joint research and development of technologies for deep processing of raw materials containing rare and rare earth metals, according to a Rosatom statement. The two sides plan to implement full-cycle projects spanning the production of high-purity metals and compounds to manufacturing materials for the electronics, chemical and nuclear industries, Rosatom said. Also read | Aiming at China, Quad announces massive USD 20 bn critical minerals framework Separately, JSC Giredmet signed a letter of intent with TEXMiN (Technology Innovation in Exploration & Mining Foundation), part of Indian Institute of Technology (Indian School of Mines), or IIT-ISM. Live Events The agreement provides for joint research and development of technologies for producing neodymium-iron-boron (NdFeB) rare earth permanent magnets , including the full metallurgical cycle and pilot validation of Giredmet technologies, according to the statement. Also read | CIL arm BCCL begins commercial operation at coal washery in West Bengal Global demand for critical minerals is rising rapidly even as supply chains and processing capacities remain unevenly distributed across regions, creating incentives for countries to build long-term industrial partnerships and diversify cooperation mechanisms, said Andrey Podchufavrov, head of the economic department at the Trade Representation of Russia in India. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

The coastal project, spread across 2,950 acres, will be developed in phases and is expected to strengthen the company’s domestic and global market presence through improved logistics and port connectivity View More

Hitachi Energy India is set to inject Rs 2,000 crore into expanding its manufacturing capabilities, driven by the surging demand for power from electric vehicles, renewable energy sources and data centers. This initiative positions the company at the forefront of Asia's second-largest economy, anticipating significant growth opportunities. View More

Mumbai: Rising power demand , an evident push toward expanding the remit of electrical applications, initiatives to boost renewable energy and data centres have helped create a multi-year growth opportunity for Hitachi Energy India , which has announced a Rs 2,000-crore manufacturing expansion program in Asia’s no. 2 economy. Hitachi Energy India is the domestic arm of the Zurich-based Hitachi Energy, which makes transformers and large-scale power transmitters. Venu Nuguri, MD & CEO, India and APAC, Hitachi Energy, told ET that the world is entering an “electricity era” as power demand rises sharply from electric mobility, renewable integration, industrial electrification and data centres. Also read | KEC International bags orders worth Rs 1,300 cr in India, overseas A key growth area for Hitachi Energy is the High Voltage Direct Current (HVDC) technology, described as a “power superhighway” capable of transmitting up to 6,000 MW through a single corridor over long distances without lower losses. Live Events “The electrons are replacing the molecules,” said Venu, adding that demand for advanced grid technologies, digital systems and high-voltage transmission infrastructure is going up as the complexity of modern electricity grids has increased significantly. The company has secured over Rs 20,000 crore worth of HVDC orders thus far and is executing two mega HVDC projects - Khavda-Nagpur and Bhadla-Fatehpur - of 6GW each. “HVDC is poised to be a solid theme with a long runway for growth with only a handful of players who possess the expertise to execute such complex projects,” said IDBI Capital in a report in April, adding that a robust Rs 1 lakh crore HVDC pipeline is expected to be awarded in India over the next 2-3 years. Hitachi Energy reported the January-March quarter earnings on Monday. Net profit jumped 80% year-on-year to Rs 330.5 crore in the March quarter from Rs 184 crore a year ago. Revenue from operations increased 46.2% to Rs 2,754.1 crore, compared with Rs 1,883.7 crore a year ago. Fresh Capex The company also approved an additional Rs 2,000 crore capital expenditure plan for its new power transformer manufacturing facility in Vadodara. This investment is in addition to the capital expenditure announced in 2024, taking the cumulative capex to Rs 4,000 crores, the company said. Also read | L&T wins orders from JSW Utkal Steel, IWAI, others “We are investing because the demand visibility is strong and structural. This is not a one- or two-year cycle,” Venu said, adding that the demand for transformers is being driven not only by transmission and renewable energy projects but also by the rapid expansion of data centres in India. India’s data centre capacity, currently estimated at less than 2 GW, could rise to 13-18 GW by 2030, creating massive demand for power equipment and grid infrastructure, he said. The company which derives nearly 30% of its revenues from exports said the geopolitical tensions in West Asia have led to elevated freight costs, shipping disruptions and raw material inflation. However, most of the company’s contracts include price variation clauses that help offset rising input costs. While Hitachi Energy plans to hire around 1,000 employees over the next few years, its global capability centre in Chennai is adding nearly 1,000 people annually. The company’s scrip ended at Rs 35,979.95, up 1.04% on the BSE on Tuesday. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Odisha's Chief Minister Mohan Charan Majhi is optimistic that JSW's massive Rs 65,000 crore integrated steel plant near Paradip will be operational by 2029. This mega project marks a significant step in the state's industrialisation. The plant will have an initial capacity of 13.2 MTPA and is expected to create substantial employment and economic opportunities for the people of Odisha. View More

Bhubaneswar/Paradip: Odisha Chief Minister Mohan Charan Majhi on Wednesday said he was optimistic that JSW's Rs 65,000 crore integrated steel plant near Paradip would be operationalised by 2029, and asserted that it would set a milestone in the state's industrialisation process. Majhi attended an event marking the commencement of construction of the 13.2 MTPA integrated steel plant of JSW Utkal Steel Limited at Dhinkia near Paradip in Jagatsinghpur district. It is the same spot where South Korean steel major POSCO had proposed in 2005 to set a 12 MTPA steel facility at an investment of Rs 52,000 crore, but later scrapped the project due to resistance from the locals and raw material linkage issues. Read more: CIL arm BCCL begins commercial operation at coal washery in West Bengal "We are optimistic that the steel plant will be inaugurated in 2029 and set a milestone in Odisha's industrialisation process," Majhi said, while addressing a gathering. Live Events He said the proposed integrated steel plant will have an initial capacity of 13.2 million metric tonnes per annum (MTPA). The investment in the initial phase is estimated to be Rs 65,000 crore, and it is expected to scaled up to Rs 1,00,000 crore in future phases, Majhi said. The project will feature JSW's own 900 MW captive power plant, a specialised cement grinding unit, and a dedicated captive jetty near the Paradip Port to streamline shipping. In an X post, CMO Odisha said, "Hon'ble Chief Minister Shri @MohanMOdisha attended the event marking commencement of construction work for the 13.2 MTPA Integrated Steel Plant of JSW Utkal Steel Limited at Dhinkia near Paradip. The mega industrial project is set to strengthen Odisha's position as a leading manufacturing and investment destination, while creating significant employment and economic opportunities for the people of the state. @InvestInOdisha@PMOIndia." The chief minister also assured JSW Group chairman Sajjan Jindal and the company in the public meeting that the state government will provide all required support for the grounding and operation of the mega project. Read more: India turns net importer of finished steel in April, data shows Odisha's Industries Minister Sampad Chandra Swain, Jatsinghpur MP Bibhu Prasad Tarai, local MLAs, senior state government officials and JSW group officials were present at the event. The then chief minister Naveen Patnaik had laid the foundation stone for the integrated steel plant on February 16, 2024, ahead of the general elections. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

JSW Steel has launched a massive Rs 65,000 crore steel project in Odisha. This 13.2 million tonne per annum integrated steel plant will be developed in phases at Paradeep. The project is strategically located on Odisha's coastline. It will offer strong port connectivity and efficient access to raw materials. This development aims to serve both domestic and international markets. View More

JSW Steel kicks off Rs 65,000 crore, 13.2 MT greenfield steel project in Odisha New Delhi: JSW Steel on Wednesday kick-started its 13.2 million tonne steel project in Odisha, entailing an investment of Rs 65,000 crore. The project is one of the largest investments undertaken by the company, JSW Steel said in an exchange filing. Also Read: ‘Europe will become irrelevant for us’: JSW Steel doubles down on India growth with massive capex plan The integrated steel plant will be developed in phases at Paradeep with a planned capacity of 13.2 million tonnes per annum (MTPA) and an estimated investment of about Rs 65,000 crore in phases. Live Events Spread across nearly 2,950 acres, the project is strategically located on Odisha's coastline, offering strong port connectivity, efficient access to raw materials and robust logistics infrastructure to serve both domestic and international markets. The company held the project commencement ceremony on Wednesday, which was attended by Odisha Chief Minister Mohan Charan Majhi, senior members of the Odisha government and JSW Group officials, the filing said. Also Read: India's steel ministry flags met coke shortage, seeks withdrawal of anti-dumping duty .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Bharat Coking Coal Limited has started commercial operations at its new 2 million tonne per annum Bhojudih coking coal washery in West Bengal. This facility will increase the supply of washed coal to India's steel industry. The move aims to reduce the country's heavy reliance on imported coking coal. View More

New Delhi: CIL arm BCCL on Wednesday announced start of commercial operations at its two million tonne per annum (MTPA) Bhojudih coking coal washery in West Bengal , an initiative aimed at boosting supply of washed coal to the steel sector . Coking coal is a critical raw material used in steel production. The commissioning of the washery comes at a time when India relies heavily on import of coking coal to meet its domestic demand resulting in significant foreign exchange outflow. "The commercial operation of the 2.0 MTPA Bhojudih Coal Washery of Bharat Coking Coal Limited (BCCL), has commenced with effect from 26th May, 2026," the company said in a filing to BSE. Also Read: Coal India dismisses shortage fears; says 168 MT buffer available to meet rising demand Live Events The new facility is a medium-capacity, three-product coking-coal washery with a raw coal washing capability of 2 MTPA (20 lakh tonne per year). "The washery has been constructed under the Build, Operate and Maintain model and is equipped with state-of-the-art technologies such as heavy media cyclone, spiral concentrator and froth flotation for beneficiation of coking coal," the filing said. The washery will facilitate production of washed coking coal for supply to the steel sector. Coal India Limited (CIL) had earlier announced the setting up of eight new coking coal washeries at an estimated capital of Rs 3,300 crore in a bid to improve coal quality and reduce import dependence. Also Read: Coal India arm SECL vows to meet nation's energy needs as power demand hits record high The washeries, with a combined capacity of 21.5 MTPA are expected to be operational by FY2030. The upcoming facilities will be in addition to the 10 coking coal washeries already operated by CIL, which together have a cumulative capacity of 18.35 MTPA. Coal India accounts for 80 per cent of the domestic coal production. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

The National Stock Exchange of India and the Steel Users Federation of India have partnered. This collaboration aims to build a robust derivatives market for steel in India. The initiative will offer steel industry participants a way to manage price risks. This will lead to better price discovery and hedging for the domestic steel value chain. View More

Kolkata: National Stock Exchange of India Limited ( NSE ) has signed a Memorandum of Understanding (MoU) with the Steel Users Federation of India (SUFI) to collaborate on the development and growth of the steel and any other relevant commodity derivatives ecosystem in India. The partnership aims to create a transparent and efficient price-risk management framework for the Indian steel industry participants, enabling them to hedge price volatility through exchange-traded derivatives. The initiative is expected to benefit a wide range of stakeholders including steel manufacturers, processors, MSMEs, OEMs, infrastructure companies, end-users, etc. Also Read: NSE launches Electronic Gold Receipts to formalise India’s gold market; successfully dematerialises 1 kg gold bar Under the MoU, NSE and SUFI will work closely on product design, market outreach, industry consultations, capacity building and awareness initiatives to facilitate the development of the steel and any other relevant Commodity derivatives products in India. India is among the world’s largest producers and consumers of steel, with the commodity widely used across sectors such as automobiles, engineering, infrastructure, capital goods and consumer durables. Live Events The proposed contract is expected to provide an effective hedging mechanism and support improved price discovery for the domestic steel value chain participants. Also Read: Sebi-appointed panel recommends NSE pay $193 million to settle cases, sources say Sriram Krishnan, Chief Business Development Officer (CBDO), NSE, said: “The Indian steel industry has matured significantly and there is a growing need for transparent and efficient risk management tools. Our collaboration with SUFI is an important step towards building credible and liquid derivatives contracts that addresses the hedging requirements of the Indian steel market participants. NSE remains committed to developing innovative commodity derivative products aligned with the evolving needs of the industry.” .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

KEC International has secured new orders totaling Rs 1,303 crore. These orders span across its transmission and distribution, civil, renewable, and cables and conductors businesses. The company received projects in India and international markets. These wins are expected to drive KEC International's future growth. The RPG Group company is a major player in global infrastructure EPC. View More

New Delhi: KEC International has secured orders worth Rs 1,303 crore across business verticals in domestic and international markets. The transmission & distribution (T&D) business has received orders for projects across India and the Americas, the RPG Group company said in an exchange filing on Tuesday. Read more: L&T wins orders from JSW Utkal Steel, IWAI, others The company's civil business has won an order for the construction of a press shop and associated facilities for an automobile factory in Northern India. Live Events The renewable business has got an order for a 150+ MW wind project in Western India from a renowned private developer. The cables & conductors business has bagged various orders in India and the overseas market. MD and CEO Vimal Kejriwal said these strategic wins will play a pivotal role in driving the company's targeted growth going forward. Read more: L&T opens India's largest skill training institute in PM Modi's hometown Vadnagar KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major, with significant presence in power T&D, civil, transportation, renewables, oil & gas pipelines and cables & conductors. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

China’s industrial profits grew at their fastest pace in over two years in April, buoyed by stronger exports, higher producer prices and gains in upstream industries. View More

Employees work on the production line of automotive display chips at a workshop on May 22, 2026 in Huzhou, Zhejiang Province of China.Vcg | Visual China Group | Getty Images BEIJING — China's industrial profits surged by 24.7% in April from a year earlier, according to official data released Wednesday, despite broader signs of slowing economic momentum.The increase marked the fastest growth since November 2023, according to financial data provider Wind Information, and accelerated from a 15.8% rise in March.For the first four months of the year, industrial profits rose 18.2%, up from 15.5% growth in the first quarter. Computing and electronics equipment manufacturing, the largest sector by profit amount, saw earnings more than double from a year ago, although the pace slowed slightly in April from March on a year-to-date basis.Among the ten largest sectors by profit, the oil and gas extraction industry posted an 8.1% rise in profits in the first four months of the year, reversing a 1.4% decline in the first quarter. watch nowVIDEO3:0003:00Exciting business opportunities in China for Kuehne+NagelSquawk Box Asia Higher crude prices helped lift profits in the petroleum processing industry to 40.42 billion yuan ($5.96 billion) in the January-April period, nearly double the 22.94 billion yuan recorded as of March.Profits for automobile manufacturers fell 16.8% in the same period from a year earlier, improving from a 17.7% decline in the first quarter.Beijing's efforts to address excessive competition in the automobile and other sectors are starting to bear fruit, EU Chamber of Commerce of China President Jens Eskelund told reporters on Tuesday, citing a survey of members earlier in the year. But he cautioned it would take another year or two to confirm the trend.A fivefold increase in profits in the mining and related sectors also boosted overall industrial profit growth, while iron smelting and rolling swung to a profit for the year as of April, compared with a loss in the first quarter.However, profit declines in furniture manufacturing steepened to 54.4% for the first four months of the year, worse than the 44.9% recorded as of March. Read more China newsHuawei plans new smartphone chips this fall as rivalry with Nvidia and Apple heats upThree signs from APEC that the U.S. and China remain far apart on tradeTariffs eased. Trust didn't.China calls for APEC cooperation as commerce minister skips opening over 'urgent official business'Three key takeaways from Putin's Beijing trip — and what they reveal about China-Russia tiesChina confirms order for 200 Boeing planes, calls aviation key area for U.S. cooperationJob training for robots: How China is getting machines ready to join the workforceAirlines are struggling but China's 'Big Three' face a tougher year than mostU.S. indicts four Chinese container manufacturers alleging pandemic-era price-fixing cartelAlibaba reveals more powerful Zhenwu AI chip, new LLMThree major shifts from the Trump-Xi meetingTrump puts Taiwan arms sales, Hong Kong jailed activist Lai on agenda ahead of meeting with XiTrump and Xi face a test over AI controlIran focus at Trump-Xi summit may delay progress on tariffs, rare earthsChina is rewiring the Silicon Valley model — starting in Hong KongChina's self-driving truck leaders say AI breakthroughs won't accelerate rollout — here's why'Draconian development' in Meta-Manus deal draws the line in China's AI race with the U.S.Behind China's 'active efforts' for an Iran ceasefire: Business trumps politicsAlibaba launches data center with 10,000 of its own chips as China ramps up AI push'The thaw is real': Indian delegation visits China to talk EVs and moreWhy AI isn't replacing jobs in China (yet)Meta faces China probe over acquisition of AI agent startup ManusBeijing's surprise intervention on Meta's Manus rattles tech founders, VCs eyeing 'China shedding'Three niche commodity prices are surging. What they show about China's grip on supply chains "China's industrial profit growth accelerated sharply in April, driven primarily by rising producer prices amid the global energy shock," Hao Zhou, head of research and chief economist at Guotai Junan International."However, the improvement in profitability appears uneven and potentially fragile. Profit gains are concentrated in upstream and high-tech sectors, while many other industries continue to struggle," he said in a note.China reported slower economic growth in April, with a 4.1% increase in industrial output and a 0.2% rise in retail sales from a year ago. Fixed asset investment fell for the first four months of the year as the real estate drag steepened.Exports remained strong, climbing 14.1% in April from a year ago in U.S. dollar terms. Imports surged by 25.3%, data released earlier in May showed.The producer price index in April jumped 2.8% from a year ago, the most since July 2022. 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Larsen & Toubro has won several new contracts in India. These include piling work for JSW Utkal Steel in Paradeep, Odisha. L&T GeoStructure will also build ship repair facilities in Patna and Varanasi for the Inland Waterways Authority of India. Additionally, a yacht marina project at Mumbai Harbour has been awarded. These projects highlight L&T's expanding role in infrastructure development. View More

New Delhi: Larsen & Toubro (L&T) on Tuesday said it has secured multiple orders in India, including a contract from JSW Utkal Steel Ltd and two projects from Inland Waterways Authority of India (IWAI). The orders have been bagged by L&T GeoStructure, a wholly-owned subsidiary of L&T. JSW Utkal Steel--a subsidiary of JSW Steel-- has placed a contract for piling work at its steel plant project in Paradeep, Odisha. Read more: RBI to examine role of quantum technology in strengthening financial secto Live Events Piling work is the deep foundation job where long piles are driven into the ground so the heavy plant structures can stand firmly and safely. This apart, the business has secured two separate orders from IWAI for the engineering, procurement and construction of ship repair facilities in Patna and Varanasi, L&T said in a filing to BSE. L&T GeoStructure has also secured an order for the construction of the country's first yacht marina at Mumbai Harbour . Awarded by the Mumbai Port Authority , the project will comprise an approach trestle, piled breakwater, service platforms, concrete pontoons and gangways to enable safe and efficient yacht operations. Read more: West Asia conflict may dent India Inc profitability by 200 bps: Crisil It is poised to position Mumbai as a global maritime tourism hub while advancing India's broader blue economy ambitions. L&T is a USD 32 billion Indian multinational engaged in engineering, procurement and construction projects, hi-tech manufacturing, products and services, operating across diverse domains and multiple geographies. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)