International News

Adani Enterprises reports 43 pc rise in EBIDTA in H1 FY24

Adani Enterprises Ltd (AEL), part of the Adani Group, has announced its earnings before interest, taxes, depreciation, and amortization (EBIDTA) increased by 43 percent to Rs. 5,874 crore during the quarter and half year ended September 30, 2023.
The report also states emerging core infra incubating businesses contributed 48 percent of the total EBIDTA for Adani Enterprises. Meanwhile, incubating assets backed EBIDTA surged by 111 percent to Rs. 2,825 crore, indicating robust growth and the significant role of these businesses in the company's financial performance.
AEL, has made significant progress in its strong incubation pipeline during the first half of the fiscal year 2023-24. The company's latest results showcase the emergence of key incubating businesses, including green hydrogen integrated manufacturing ecosystem, airports and roads, which collectively contributed 48% of the overall EBITDA.
“We are fundamentally reshaping the essence of incubation scale and velocity,” said Mr. Gautam Adani, Chairman of the Adani Group. “Adani Enterprises covers sectors that span energy, utility, transport, D2C, and primary industries. With many ventures now market- ready and thriving, our H1 FY23-24 results have been boosted by the core infra incubating businesses, thereby being a strong testament to our incubating ventures.”

Netanyahu says no temporary truce in Gaza without hostage release

JERUSALEM: Prime Minister Benjamin Netanyahu said Friday Israel would not agree to a "temporary truce" in its war on Hamas militants without the release of hostages taken from Israel to Gaza.
"We were continuing with all our force and Israel is refusing a temporary truce that does not include the release of our hostages," Netanyahu said following a meeting with US Secretary of State Antony Blinken in Tel Aviv.

Glenrich, Duke of Edinburgh Award Foundation join hands

Putting a crucial step forward towards advancing youth development within the country, Glenrich International School (GIS) signed an agreement with The Duke of Edinburgh’s Award Foundation Bangladesh recently.
The Award Centre Sub-License signing held at the school campus marks a strategic alliance between the signees, further solidifying Glerich commitment to offering the best to its students.
The partnership brings The Duke of Edinburgh’s International Award program to the students of Glenrich with immediate effect.

AESL Commissions 2500 MW Green Evacuation 400 kV System in Tamil Nadu

Ahmedabad: Adani Energy Solutions Ltd., the largest private sector power transmission company in India, has announced the successful commissioning of the Karur Transmission Ltd (KTL) project. The project includes the establishment of the 400/230 kV, 1000 MVA Karur Pooling Station and an associated transmission line spanning 8.51 circuit kilometers (CKM) in Tamil Nadu.
With a transformation capacity of 1,000 MVA, this project will facilitate the evacuation of power from renewable sources in the Karur/Tiruppur Wind Energy Zone. Additionally, it will strengthen the Southern Regional grid and support the integration of renewable energy sources on a large scale.
The Karur/Tiruppur Wind Energy Zone is a key wind corridor in Tamil Nadu, with significant capacities in wind energy and several under-construction wind farms. AESL was awarded this project to ensure the smooth evacuation of up to 2500 MW of green power produced in the region. This project aligns with India decarbonization goals, supporting the country aim to achieve 500 GW of green energy by 2030. It will provide industrial, commercial, and residential consumers with enhanced access to reliable and clean energy.
AESL secured this project through the Tariff-Based Competitive Bidding (TBCB) route in December 2021 for a period of 35 years, covering the build, own, operate, and maintain basis. Despite numerous challenges, AESL executed this project in a fast-track mode, taking into consideration the topological challenges while minimizing ecological impact.
Several innovative approaches were employed during the execution, including the use of high-boom RMC machines for concreting work, high-boom lifts and cranes for tower erections, and the implementation of advanced cybersecurity endpoint solutions through the latest SCADA system. The project also involved round-the-clock work in multiple shifts, allowing for enhanced progress. AESL execution prowess was displayed through the erection of two 48-MT towers in under 24 hours each, significantly surpassing the usual rate of 5-6 MT/day.
Furthermore, AESL successfully completed critical tasks such as the shutdown of the 400 kV D/C Pugalur-Pugalur (HVDC) line and the erection of tower structures under the constraints of the existing transmission line. The construction phase encountered challenges related to foundations, which were overcome through the execution of stringing over coconut trees while adhering to all safety measures.
The completion of the KTL project further solidifies AESL position as India leading power transmission company. AESL has a portfolio of operational transmission projects and several others in various stages of construction.

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