Reliance Infra to turn cash surplus as MERC approves Mumbai op sale to Adani

Anil Ambani-led Reliance Infrastructure said it has won approval from the Maharashtra Electricity Regulatory Commission for the sale of its Mumbai power business to Adani Transmission Ltd. It said it now expects to close the Rs 18,800 cr transaction next month. Reliance Infrastructure will utilize the proceeds of the transaction entirely to reduce its debt, […]

Reliance Infrastructure wins Rs 7,000 cr Versova-Bandra sea link project, beats L&T, Hyundai

Adding yet another key win to their orderbook, Anil Ambani Group’s Reliance Infrastructure and partner Astaldi of Italy have won the prestigious Versova-Bandra sea link project at a cost of Rs 6,993.99 cr. They beat big names like joint ventures of Larsen & Tourbo and Samsung, as well as Hyundai and ITD. This is the […]

Reliance Infrastructure beats L&T to win Rs 774 cr railway line project

Anil Ambani Group’s Reliance Infrastructure Limited said it received a Rs 774 cr contract to build 105 km of railway track, including 13 railway stations and staff quarters. The order from Rail Vikas Nigam Limited is the first from the firm to be awarded to the Anil Ambani company. The scope of work includes Civil, […]

Reliance Infrastructure to build 20 km of Wadala-Thane Mumbai Metro line

Reliance Infrastructure, the construction arm of the Anil Ambani group, said it, along with its consortium partner, won three different contracts to construct about 20 km out of the 32 km Mumbai Metro line between Thane and Wadala. The total package is worth about Rs 1,584 cr. The consortium of Reliance Infrastructure Limited and ASTALDI […]

Reliance Infra beats L&T, others to win Koodankulam SSC contract

Anil Ambani Group’s construction and infrastructure arm Reliance Infrastructure said it received an order of Rs 1,081 crore for the construction of a “Common Services System, Structure & Components (SSC) package” and allied civil works for the upcoming Unit 3 and 4 of Kudankulam Nuclear Power Project at Tirunelveli District in Tamil Nadu. SSC’s are […]

High Court upholds Rs 5,000 cr compensation to Reliance Infra from DMRCL

The Delhi High Court has upheld the award of a Rs 5,060 cr compensation by the Delhi Metro Rail Corporation for circumstances leading to cancellation of Reliance Infra’s airport metro service. The compensation was originally awarded by an arbitration panel last year. Along with interest, said the Anil Ambani company, the total amount will coem […]

SKIL Infra counter sues Reliance Infra over Pipavav deal, seeks Rs 8130 cr

Within hours of getting an arbitration notice from Reliance Infrastructure seeking damages of Rs 5,440 cr, SKIL Infrastructure has counter sued the Anil Ambani Group firm for a higher amount. The infrastructure company, the former promoter of Pipavav Defence, also denied the charges made by Reliance Infrastructure on Monday. In a statement, Reliance Infrastructure had […]

Reliance Infrastructure starts Rs 5,440 cr arbitration against Pipavav founders

Anil Ambani Group controlled Reliance Infrastructure said it has issued a notice of arbitration against the founders of Pipavav Defence and Engineering Limited seeking Rs 5,440 cr for “breach of warranties”. Reliance Infrastructure emerged as the biggest shareholder in Pipavav Defence and Engineering Limited in 2015, and subsequently renamed it to Reliance Naval and Engineering Limited. […]

Reliance Infra gets nod to increase coal mining at Sasan Power Project

Reliance Infrastructure, the construction and infrastructure arm of the Anil Ambani Group, said it got permission from the ministry of coal to increase its coal mining by about 6%. Sasan Power Project “has received permission from the ministry of coal, government of India.. to increase coal mining from 17 mln tonne per annum to 18 […]

Reliance Infrastructure wins Rs 292 cr arbitration against Goa

Anil Ambani Group’s Reliance Infrastructure Limited said it won an arbitration award of Rs 292 crore against Government of Goa. The Arbitration Tribunal, in its award on February 16, 2018, ordered Government of Goa to pay Rs 292 crore to Reliance Infrastructure Limited by April 15, 2018, it said. “The need for arbitration arose due […]

Reliance Infrastructure wins Rs 882 cr order from NHAI

Reliance Infrastructure, the construction arm of the Anil Ambani Group, said it received a Rs 882 cr order for six-laning a 70 km stretch on National Highway 2 in Bihar. “The scope of work includes design, engineering, procurement and construction of six-lane highway and associated bridges with paved shoulders,” said the company, which received a […]

Reliance Power awards Rs 5,000 cr Bangladesh project to Reliance Infrastructure

Reliance Infrastructure Limited said it won two constructiong contracts in Bangladesh together valued at Rs. 5,000 crore. The contracts arer for creating a 750 MW LNG-based combined cycle power plant at Meghnaghat (Dhaka) while the second project is for building a 500 MMSCFD floating storage regasification unit (FSRU) based integrated LNG terminal project at Kutubdia […]

Reliance Infrastructure in talks to sell Mumbai power network to Adani

Reliance Infrastructure said it has entered exclusive negotiations with Adani Transmission Limited for the sale of its power distribution business in Mumbai. The deal involves its integrated business of generation, transmission and distribution of power for Mumbai City, the Anil Ambani company said. Just yesterday, it said its deal to sell its transmission assets under […]

Reliance Infrastructure says sale of transmission assets to Adani on track

Reliance Infrastructure Limited said it signed an agreement to transfer some of its transmission assets, under the Western Region System Strengthening Scheme (WRSSS), to two of its subsidiaries ahead of their sale to Adani Transmission Limited. In December 2016, RInfra has entered into Share Purchase Agreement with Adani Transmission Limited for sale of WRSSS valuing […]

Reliance Infrastructure responds to downgrade by India Ratings

Reliance Infrastructure said it disagreed with the decision by India Ratings, a unit of Fitch, to downgrade its debt over delays in equity infusion and monetization of assets. “The Company respectfully disagrees with the views of India Ratings,” it said today. “The Company has taken series of steps for asset monetization including inter alia filing […]

Reliance Defence Engg launches patrol ships for Indian Navy

Reliance Defence and Engineering, controlled by Reliance Infrastructure, said it ‘launched’ the first two of its five patrol vessels being built for the Indian Navy at its shipyard in Pipavav, Gujarat. The ships are being constructed under the “P-21” project. The Company is also engaged in construction of one Training ship and fourteen Fast Petrol […]

Reliance Infra defence unit inks one more deal to help with Rafale work

Reliance Defence, the defence-focused subsidiary of Reliance Infrastructure, said it entered into yet another agreement with an overseas company. This time, the company said it tied up with Daher Aerospace, France, a supplier of integrated systems for aeroplanes. “Daher Aerospace is tier one manufacturer in Aerostructures segment comprising Fuselage Sections and Fairings made of composites […]

Anil Ambani Group ties up with Thales for Rafale contracts

Reliance Defence, the defence manufacturing arm of the Anil Ambani group, said it will form a joint venture in India with global defence manufacturer Thales to carry out some contracts related to the Rafale jet deal. The Indian company will hold 51% of the equity while the foreign entity will hold the remaining. Reliance Defence […]

Anil Ambani group company wins Rs 2,950 cr from DMRC

Delhi Airport Metro Express Private Ltd, an associate company of Reliance Infrastructure, said it was awarded compensation of Rs 2,950 crore by a three member Arbitration Tribunal in a dispute with Delhi Metro Rail Corporation or DMRC. The tribunal was constituted from a panel nominated by DMRC. The Award to RInfra has been granted on […]