LYSAKER: TECO 2030 ASA announced a partnership with Thecla Bodewes Shipyards in Holland to develop zero emission hydrogen-based fuel cell propulsion on all types of river going vessels, such as push tugs, dredgers, passenger and cargo ships and low-profile coasters. TECO 2030 ASA has signed a Strategic Cooperation Agreement with the Dutch Thecla Bodewes Shipyard…
TECO 2030 ASA
TECO 2030 ASA (OSE-Ticker: TECO is an innovative engineering and equipment development company aiming to significantly increase the use of renewable energy, specifically in the form of hydrogen fuel. cells, and reduce the environmental footprint of the shipping industry. TECO 2030 is striving in a fast-paced environment to help clients operate within the maritime rules…
PSMC Update
Given the unfolding post-Covid scenario, along with recent volumetric growth, we believe that Pak Suzuki (PSMC) still has some upside on offer. We apprise investors regarding the same in this piece and Recommend ‘Hold’ with a revised TP of Rs325. The revision is based on stronger-than-anticipated volumetric outlook for CY21 (high demand for the Alto,…
Auto volumes to grow by 43% YoY in January
Aggregate auto volumes for the 3 major passenger car OEMs are expected at ~16.9k units in Jan-2021, which would amount to YoY growth of ~43%. Pak Suzuki (PSMC) is expected to be the outperformer during the month, with YoY growth of 62% expected. This would only be the third month in 2 years for the…
K-Electric committed to keeping industries powered up
KARACHI: Following the Federal Cabinet’s approval of moratorium on gas supply to industrial units for self-generation of electricity, K-Electric (KE) continues to remain fully committed to facilitating Karachi’s industrial customers in line with the Ministry of Energy’s (Power Division) direction to expedite fresh electricity connections and improve power supplies. KE is closely engaged with the…
Vitol Bahrain to supply Pakistan with two LNG cargoes in April
ISLAMABAD: Vitol Bahrain has offered the lowest rates for supply of two sport cargoes tendered by Pakistan LNG Terminal for delivery in April 2021. Pakistan LNG Limited (PLL) has received even lower bids for two LNG cargoes for April in the range of 10.89 percent to 11.05 percent of Brent against the tender that closed…
Air Liquide makes new investment in electronics to supply BOE in China
PARIS: Air Liquide China will build new production capacities in Mianyang City (100 km Northwest of Chengdu), Sichuan Province and Chongqing City. These will supply BOE, the world’s leading company in flat-panel displays and an IoT company, in the context of new long-term supply agreements. Since 2017, Air Liquide’s total investment for BOE amounts to…
Maersk Drilling selected for long-term drilling campaign by Tullow Oil
LYNGBY: Maersk Drilling has received a conditional letter of award (CLOA) from Tullow Ghana Ltd. for the provision of the ultra-deepwater drillship Maersk Venturer and additional services for a development drilling campaign at the TEN and Jubilee fields offshore Ghana. The duration of the final contract is around four years with expected commencement in Q2…
PayPoint completes £70 million acquisition of Handepay and Merchant Rentals
LONDON: PayPoint has completed the acquisition of Handepay Limited and Merchant Rentals Limited, after receiving regulatory and other customary approvals. The cash consideration for the acquisition is £70 million on a cash free debt free basis, after closing balance sheet adjustments. The acquisition of Handepay/Merchant Rentals significantly enhances PayPoint’s existing cards business, with a 30,000-strong…
Marlowe notifies acquisition of Hadrian Technology for £3.8 million
LONDON: Marlowe plc, the UK leader in business critical services and software, has acquired Hadrian Technology Limited (HTL) for an expected enterprise value of £3.8 million, a news release said. HTL, founded in 1999, is a leading provider of CCTV and loss prevention technology solutions across the UK and Ireland. Hadrian implements CCTV solutions, operating…
JLEN acquires Codford Biogas for an initial upfront payment of £19.8 million
LONDON: JLEN Environmental Assets Group notified the acquisition of a 100% equity stake in Codford Biogas Limited (CBL). CBL holds the rights and operational assets that make up the Codford anaerobic digestion (AD) plant, a 100,000 tonnes per annum food waste permitted plant based in Wiltshire, UK. The acquisition is structured as an initial upfront…
Ecofin completes acquisition of seed investments
LONDON: Ecofin U.S. Renewables Infrastructure Trust (RNEW) has now completed the acquisition of all four seed investments described in its prospectus dated 11 November 2020. Within just over one month from admission, the Company has therefore now invested approximately 50% of the net IPO proceeds. The aggregate consideration payable for the fourth seed investment, is…