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KEI Industries completes capacity expansion at Chinchpada and Pathredi plants

India, News

KEI Industries Ltd has completed brownfield capacity expansions at its Chinchpada (Silvassa, Dadra Nagar Haveli, and Daman & Diu) and Pathredi (Rajasthan) cable manufacturing units in the first half (H1) of FY25.  The expansions, fully commissioned between April and September 2024, have increased the company’s low-tension (LT) cable capacity to approximately Rs 9 billion annually. The company invested Rs 3.12 billion in H1 FY25, covering the brownfield projects and the greenfield plant at Sanand in…

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KEI Industries approves Rs 20 billion QIP proposal

India, News

KEI Industries Ltd’s board of directors has approved a proposal to raise Rs 20 billion through a qualified institutional placement (QIP). The funds will be raised via the issuance of equity shares or other eligible securities, subject to shareholder and regulatory approvals. A “Fund Raising Committee” has been formed to finalize the QIP’s terms and conditions. In its financial results for H1FY25 (April to September), KEI Industries reported: Domestic institutional sales of wire and cable…

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KEI Industries invests Rs 1.45 billion in Q1 FY25 for plant expansions

India, News

KEI Industries undertook capital expenditure (capex) of approximately Rs 1.45 billion in the first quarter of FY25, focusing mainly on a new greenfield plant in Sanand, Gujarat. The company spent Rs 760 million on the Sanand plant, while the remaining Rs 690 million was allocated to brownfield expansions across other facilities, including Chinchpada (Rs 240 million), Bhiwadi (Rs 210 million), and Pathredi (Rs 140 million). The Chinchpada plant in Silvassa will see increased wire and…

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UK and Australia to launch Climate and Energy Partnership for clean energy transition

Global, News

The UK and Australia have announced a partnership to pursue their energy transition goals through the Australia-UK Climate and Energy Partnership. The partnership will focus on the development and deployment of renewable technologies such as green hydrogen and offshore wind.  UK Prime Minister Keir Starmer and Australian Prime Minister Anthony Albanese met on the sidelines of the Commonwealth Heads of Government Meeting in Apia, Samoa, where they underscored the role of private capital and government…