MSMEs Receive Technology Transfer from DRDO

A couple of weeks ago, there was an interface of the defence-industry which was organized in Chennai. The interface lasted for 2 days and the conclusion of it had the Defence Research and Development Organization making 18 transfers of technology to private enterprises. Many Micro, Small and Medium Enterprises has been given technical information about how to manufacture different types of defence equipment. That way, they would have the knowledge of carrying out this manufacturing on their own.

The technologies which the DRDO transferred were previously used to manufacture different pieces of defence equipment that would go to the Indian military branches: Air Force, Army, and Navy. Two private companies received technology that was used to build a mountain footbridge that is 35 meters long. Another company received some technology that would allow it to manufacture propellant for a BrahMos missile, low and high thrust motors as stated in the Times of India.

Aside from the DRDO transferring all this technology, the DRDO also conducted an exchange of interest with Naval Physical & Oceanographic Laboratory and Goa Shipyard Limited. The purpose of this exchange was to use technologies of DRDO to create an indigenous ship. The defence ministry is eager to have private enterprises throughout India to begin manufacturing equipment for them. The ministry is already working on a list of the specific pieces of equipment that they want to be manufactured.

Over one-thousand MSMEs participated in the Chennai event. The majority of them are companies which make aluminum-based items and machinery. These aren’t just companies from Chennai, but also from Maharashtra, Trichy, and Coimbatore as well. They are, of course, interested in this transfer of technology because it gives them the opportunity to conduct more business and make more money. At the same time, it gets the defence more supplies and equipment they need to effectively defend the country.

 

Thermal Power Plant in Uttar Pradesh Receives Loan of Rs. 11,067 Crore

There may be some more government jobs in Uttar Pradesh coming very soon after it was announced recently that a power plant there would be receiving a loan of Rs. 11,067 crore. Neyveli Lignite Corporation is the owner of a 1980 MW thermal power station in Uttar Pradesh that runs on coal. A consortium of State Bank of India, Power Finance Corporation Limited, and Rural Electrification Corporation are lending this money to pay the debt of the power plant. In return, Neyveli Uttar Pradesh Power Limited has awarded the consortium of these companies with a LoA.

Neyveli Uttar Pradesh Power Limited was established as the result of a joint venture between Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited and Neyveli Lignite Corporation. The latter has a 4301 MW installation capacity and has both wind power plants and thermal power plants in the Indian states of Rajasthan and Tamil Nadu, according to reports of The Economic Times. Their latest power plant in Ghatampur, Uttar Pradesh is going to cost around Rs. 17,237.80 crore for its development. Its funding will be based on a debt to equity ratio of 70:30.

The consortium of Power Finance Corporation Limited is paying Rs. 11,067 crore of the total Rs. 12,067 crore debt. The Bank of India is paying for the remainder of the debt. This development project is expected to begin no later than November 2021. Due to the increasing power demands of Uttar Pradesh, this new power plant is expected to produce 13,969 million energy units. This is expected to be economically beneficial to the state as it will help more people and businesses function there.

Previously, Neyveli Lignite Corporation has received sanctioned loans from Power Finance Corporation in the amount of Rs. 7,278 crore. This helped cover a variety of thermal power station projects in Tuticorin and New Neyveli.