Business & Industry
Hermann Kamte, young Cameroonian architect and the founder of company Hermann Kamte & Associates (HKA), is the driving force behind the famous sketch of Lagos Wooden Tower.
The project involved building a 382,000-square-foot premium pet food manufacturing facility to replace an aging plant. T.E. Ibberson Company (Ibberson) was selected as the design-build contractor based on positive experiences from an earlier project.
XtalPi Inc., a computation-driven pharmaceutical technology company, announced that it has closed a Series B funding round of 15 million USD led by Sequoia China, with participation from Google and existing investor Tencent. To date, XtalPi has raised over 20 million USD, making it one of the top-funded AI-powered biotechs.
L&T Construction, the construction arm of Larsen & Toubro, has won orders worth Rs. 1,454 Crores across various business segments. Smart World & Communications Business Unit The business unit has secured an order worth Rs. 864 Crore for the implementation of 5 Million Smart Meters. The scope involves Design, SITC and O&M Support of Advanced Metering Infrastructure (AMI) Solutions for 5-Million Smart Electricity Meters with GPRSbased communication modules for the states of Uttar Pradesh and Haryana.
The tender for smart meters was floated by state-owned Energy Efficiency Services Limited (EESL) as International Competitive Bidding. The goal of the Project is to create a
sustainable impact by increasing DISCOM revenues by better billing efficiency, improvement in customer satisfaction, etc. This shall also provide access to real-time data and provide all information on a single console in an integrated manner to remotely control the entire network and thereby increase operational efficiency. The project involves installation of 5 million Smart Meters in 16 cities across Uttar Pradesh & Haryana state, provisioning of GPRS Network, integration with the existing legacy systems and upcoming DISCOM systems - including metering, billing & collection systems and smart dashboards. The entire applications of the project will be deployed on cloud including Head End System and Meter Data Management System, which are the first of their kind in India for such a large scale project.
"This is a significant win for us in the smart solutions space and reaffirms our credentials as a technology leader,” said Mr. S N Subrahmanyan, Chief Executive Officer and Managing Director, L&T. “As an Advanced Metering Infrastructure (AMI) Implementation partner, we will use cutting edge technology to provide an integrated solution capable of high-end analytics on a futuristic and eminently scalable platform in-line with the central government’s plan to reduce the aggregate technical and commercial (AT&C) losses of state utilities,” he elaborated.
L&T's Smart World business has been making its presence felt across many of the major Indian cities by creating safe, smart and connected solutions. This project for 5 Mn smart meter integration is expected to be the largest such rollout program ever in a single lot in the industry.
The Power Transmission & Distribution Business The business has bagged orders worth Rs. 568 Crores from both international and domestic customers. In Africa, the business has bagged a breakthrough order from the Egyptian Electricity Transmission Company for turnkey construction of the Sokhna 500/220kV Gas Insulated Substation. This order, secured amidst stiff international competition in consortium with an OEM partner, augurs well for the expanding presence of the business in African continent.
In the domestic market, Sterlite Power Grid Ventures Ltd., a leading independent power transmission player, has once again reposed faith in L&T by awarding an order for a major project involving engineering, procurement and construction of 765kV, 400kV and 220kV Transmission Lines associated with Goa Tamnar Transmission Project Limited.
Further, the business has secured an order from Chamundeshwari Electricity Supply Corporation Ltd., a Karnataka Government undertaking, for turnkey execution of power distribution system to strengthen works in several subdivisions of the Mysuru area.
The Sterling Group, a Houston-based middle market private equity firm, announced that its portfolio company, Construction Supply Group ("CSG"), has completed the acquisition of Brock White of Wisconsin, a construction supply distributor in the Milwaukee, Wisconsin area.
Sempra LNG & Midstream today announced that Cameron LNG has reached a settlement agreement with its contractor, CCJV, related to the construction of the Cameron LNG liquefaction project in Hackberry, La. CCJV is a joint venture between an affiliate of Chicago Bridge & Iron Company N.V. (CB&I) and Chiyoda International Corporation.
Bouygues Construction is organising its second Global Mobility Forum, intended to enable its employees to discover new career opportunities and so develop their careers by changing their post, assignment or workplace.
Caesars Entertainment Corporation announced definitive agreements to sell and leaseback the real estate assets associated with Harrah's Las Vegas to VICI Properties ("VICI") and to acquire adjacent land from VICI to develop a planned new 300,000 square foot convention center.
The construction phase of Scotland’s biggest waste water tunnel, which will help tackle flooding and improve river water quality in the Glasgow area, has been completed.
Saipem SA and Trade Union Organisations signed an agreement, pursuant to Article L. 1233-24-1 Code du Travail (French labour code), regarding the company reorganisation project.