.
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Topics
IGL | Indraprastha Gas | energy industry
.
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Genesis, an arm of Vikas Lifecare Limited (VLF), has inked a pact with Indraprastha Gas Limited (IGL) to set up a meter manufacturing plant at an estimated cost of Rs 110 crore.
The unit will be set up through a joint venture company, VLF said in a statement on Monday.
Genesis Gas Solutions Pvt Ltd (Genesis) has entered into a JV agreement with IGL to set up a smart meter manufacturing plant with a capex of Rs 110 crore, it added.
"The unit will manufacture diaphragm gas meters equipped with IoT technologies like LoRa, LoRaWAN, Bluetooth, NFC, NB-IoT etc.," the statement said.
Initially, the smart meter plant will have an installed capacity to manufacture one million meters annually.
In the JV, IGL and Genesis will have equity participation in the ratio of 51:49.
The unit is expected to be operational by April 2024.
Vikas Garg, Chairman of Vikas Group & Director Genesis, said the JV will be a game changer. It will also aim to tap the demand in the international market, besides catering to domestic consumers.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Tue, March 07 2023. 16:01 IST
In the evolving landscape of global financial markets, the strategic role of central banks has come under intense scruti... Read more
Author: Ricardo Goulart ... Read more
Author: Gerardine Lucero  ... Read more
When it comes to banking, a significant new contender has entered the ring. The principles of Islamic banking and financ... Read more
The role of central banks in global economy is a stimulating topic that requires profound understanding. Commonly, centr... Read more
Throughout time, the banking sector has assumed a central role in the smooth functioning of economies, generating growth... Read more