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Patel Engineering Bags Hydro Electric Power Project

Patel Engineering Ltd has announced that the Company has bagged a 520 MW Parbati Hydro Electric Project Stage (III) from the National Hydro electric Power Corporation Ltd in a consortium with L&T. The project is estimated at Rs 4390.70/- million.

The project, Located at District Kullu in Himachal Pradesh on river Sainj, includes river diversion, rockfill dam intake, desilting chambers, 5.8 KM Head Race Tunnel and other associated works and will be implemented in 56 months.

Commenting on the developments, Ashwin Parmar, Director, Business Development, of the Company said: "Our government’s increasing thrust on infrastructure construction in the country has thrown open an immense growth opportunity in the sector. This is the first project bagged by Patel Engineering in consortium with L&T. We are optimistic of participating in similar projects in future on the back of synergistic strengths of Patel Engineering and L&T."

The Company has recently bagged two projects - the Nettampadu Lift I irrigation project and a railway tunnel project. The Nettampadu Lift - I irrigation project near Guddam Doddi Village, Dharur Mandal, will irrigate around sixty thousand hectares of land in the surrounding areas. The railway tunnel project, part of the Lumding - Silchar Gauge Conversion project at Haflong, Assam is a step towards all - round development of north - eastern states to ensure better connectivity with the rest of the country.

Pantaloon Hires Sameer Sain To Head Financial Arm

Pantaloon Retail has roped in Goldman Sachs Managing Director Sameer Sain to head its new financial services arm, Future Capital Holdings. Besides being managing director Sain was head of the special investments group, co-head of wealth management for Europe, the Middle-East and Africa, and a member of the executive committee of Goldman Sachs Bank Zurich.

Kishore Biyani, managing director, Pantaloon Retail, said, “During his 11 years at Goldman Sachs, Sameer has accumulated a broad range of experience, specifically in alternative investments such as hedge funds, private equity and real estate. In addition, he also brings a strong understanding of the global capital markets.” ...... Read Full Story

ADAE To Set Up Two Retail Broking Outfits

Anil Dhirubhai Ambani Enterprises (ADAE), has big plans in the retail broking space. R Trade Securities, the group’s vehicle for retail broking, is busy recruiting people and setting up a pan-India network for itself, as well as its two subsidiaries - R Trade Commodities and R Trade Financial Services.

Commercial operations for these three firms are expected to begin in April.Reliance Capital, the group’s financial company, having presence in mutual funds, as well as general and life insurance businesses, is the promoter of R Trade Securities, which in turn has floated R Trade Commodities and R Trade Financial Services.

Sources who know about the development said R Trade Securities was recruiting people in a big way, to increase the staff strength from 70 to 200 in a year. The increased staff strength was required to set up offices at 20 cities........ Read Full Story