Infrastructure giant L&T announced that its Metals & Minerals division has secured several large contracts with major domestic companies in the mineral extraction and metallurgy sectors. The company defines such large orders as those valued between 10,000 and 15,000 crore rupees.
The first order was received from a state-owned company that is the largest producer of iron ore in India. This company commissioned L&T for an EPC package to build an iron ore processing plant with a capacity of 18 million tonnes per year in the state of Chhattisgarh. This project is part of the company's expansion program, aiming to reach a capacity of 100 million tonnes per year by 2030.
According to L&T's statement, the scope of work includes design and engineering, procurement, installation, and commissioning of a downhill conveyor system, sorting plant, storage facility, site equipment, as well as Rapid Wagon Loading Systems (RWLS) and associated auxiliary systems.
The second contract was obtained from another Navratna-category state-owned company involved in expanding a steel plant in West Bengal. The plant's capacity will increase from 2.5 million tonnes per year to 7.1 million tonnes per year. L&T provided various Design & Build and Balance of Plant packages for this project.
Furthermore, L&T signed an EPC contract for a zinc processing plant with a major private metal producer. This contract covers design and engineering, procurement, installation, commissioning, and related services at the site.
S. N. Subrahmanyan, Chairman and Managing Director of L&T, noted that these deals confirm L&T's enduring leadership in the EPC sector for minerals and metals. He also emphasized that this reflects the deep trust clients have in the company's ability to execute projects of exceptional scale and complexity.
L&T is a multinational Indian corporation valued at $32 billion, operating in EPC projects, high-tech manufacturing, products, and services across various domains and multiple geographical markets.
Law enforcement agencies discovered a large-scale theft at a private company's coal warehouse in the Baghdad district of the Fergana region.
An employee responsible for the coal misappropriated 1,658.53 tons of imported coal. According to the investigation, these actions caused damage to the company estimated at approximately 1.7 billion soms.
A criminal case concerning embezzlement or misappropriation of property has been initiated regarding the incident, and an investigation is currently underway.
It should be noted that previously, a theft of coal intended for public needs, amounting to over 900 million soms, also occurred in the Samarkand region.
The Enforcement Directorate (ED) has issued orders to freeze the bank deposits of the All India Trinamool Congress (TMC) totaling 440 crore rupees located in Kolkata. This decision was made on Tuesday as part of the application of the Prevention of Money Laundering Act (PMLA).
These measures followed an ongoing money laundering investigation concerning financial transactions linked to TMC's bank accounts. The agency stated that over 150 crore rupees were transferred through a network of aviation, tourism, and related service companies. An inquiry is currently underway to determine if funds used for charter flights during the party's 2024 election campaign were disguised through numerous legal entities to conceal their origin.
The investigation began after a complaint filed in June, alleging that proceeds from large-scale cyber fraud had been transferred to specific TMC accounts. Based on this complaint, the police registered a First Information Report (FIR) and froze debit operations on three party accounts before the ED joined the investigation under PMLA. Investigators are examining at least 18 TMC bank accounts, as well as transactions involving firms such as Carewell Travels, Windborne Aviation, and Anita Tours.
As part of the investigation, the ED conducted searches on Tuesday at five locations in Kolkata, including the offices of Carewell Travels, the election trust, and the accountant. Documents and electronic devices were seized. Furthermore, the agency is examining the matter of Carewell Aviation's aircraft acquisitions between 2023 and 2026 and determining whether these purchases are linked to suspicious financial operations.
