Author: Rabindra

Indian Buyers Encouraged to Invest in Greece for Permanent Residency in Europe, at an Affordable INR 2.5 Cr Before the Regulations Change on August 31

New Delhi, Delhi, India  The much vied-for Greece Golden Visa, (Permanent Residency) is currently one of the most affordable residency programs in Europe and across the world, that provides global high-net-worth individuals (with family) and investors a permanent home in Europe along with ‘visa-free travel across Europe’. Free health and education as well as the freedom to set up a business in the county are among other benefits of the PR.

Indians, who’ve always dreamt of buying a holiday home in Greece, can avoid the impending price increase by taking prompt action and advancing their property purchases with Leptos Estates before August 31 in exotic locations such as Paros, Crete, and Santorini.

Owning a dream holiday home in Greece as well as a Golden Visa with Permanent Residency, is set to become more expensive for all from August 31, 2024. In September, the Greek government will implement new laws that will double the minimum investment required for global citizens to own real estate in Greece.

Coral Bay Vilas Cyprus

Leptos Estates, a prominent real estate and property development firm specializing in residential, commercial and holiday residences including premium apartments and luxury villas in Greece and Cyprus, invites high-net-worth individuals and investors from India to act swiftly and make their property investments in Greece before the rules change later this year.

Over the last few years, the popularity and demand for Greece’s Golden Visa Programme launched in 2013, has surged leading the Greek government to reconsider the entry points for real estate investment and Permanent Residency.

As per the new rule regarding Greece’s Golden Visa Program that is expected to be effective on August 31, 2024, there will be two minimum investment slabs for real estate transactions in the country. In Tier I, which comprises popular areas like Attica, Thessaloniki, Mykonos, Santorini, and the islands, the minimum investment is expected to go up to Euro 800,000 from the current Euro 500,000; and in Tier II that covers all other regions of Greece, the entry point will go up to Euro 400,000 from the current Euro 250,000.

“As the deadline approaches, prices are expected to surge, potentially making the dream of owning a Greek home less attainable for Indian investors. We urge high net-worth individuals and investors to grab this unique once-in-a-lifetime opportunity to secure a Permanent Residency in Greece while enjoying the chance to make promising returns on their investment at a minimum cost of an affordable Euro 250,000. Once the new rules come into effect, the cost will double, and it will be a great chance missed. We have some aesthetically and sustainably designed, fully functional apartments and villas across Greece and in regions like Paros Crete, and Santorini that would make great homes for global citizens,” said Sanjay Sachdev, Group Marketing Director, Leptos Estates.

Aphrodite Gardens Cyprus

Investors can still apply under the current Euro 250,000 minimum threshold if they pay a 10% deposit by Aug 31, 2024, and finalise the investment by December 31, 2024.

Among the several benefits of owning both a home and a Permanent Residency in one of the world’s oldest civilizations is visa-free travel within Europe’s Schengen area, high returns from Greece’s booming real estate market, perfect weather throughout the year, and a chance to experience the charming, idyllic Mediterranean culture.

The Residency applies to the whole family (married spouse, children under 21 years old, and parents of the main applicant and spouse) with eligibility to apply for citizenship also

Foreign homeowners in Greece are not required to reside in Greece and residence permits can be acquired within 6 months. Owners also have the option to rent out their investment property.

Aster DM Healthcare Announces Rs. 250 Cr Expansion Plans for Aster CMI Hospital, Bengaluru; to Add 350 Beds

Aster DM Healthcare Limited (“Company”), one of the largest integrated healthcare providers in India, has announced its expansion plan for Aster CMI Hospital, a leading multispecialty hospital in Bengaluru. The unit will have an additional infrastructure expansion of 300,000 sq feet thereby increasing its bed capacity from the existing 500 beds to 850 beds. With this development, the company is further strengthening its presence in Bengaluru, reaching a cumulative bed strength of 1602 beds, thereby becoming one of the largest healthcare providers in the city. The Company will invest around Rs. 250 cr to upgrade the existing facility and is expected to be commissioned by FY2027.

Spread across an area of 4.45 lakh square feet in Hebbal, Bangalore, Aster CMI Hospital, is one of the leading super-specialty hospitals with contemporary state-of-the-art facilities offering comprehensive primary care to quaternary care services. Since its launch in 2016, the hospital has secured its place as one of the best multispecialty hospitals in the country today – a testament to the hospital’s dedication of continuously raising the bar for clinical standards in the country.

Dr. Azad Moopen, Founder Chairman, Aster DM Healthcare said, “Our phase-wise expansion is aligned with our vision to serve the growing needs for advanced and quality healthcare. Aster CMI Hospital since its launch in 2016 has revolutionized the healthcare market in Bengaluru and the whole of South India. Today, the hospital stands amongst the leading players in the market. With many innovative and ambitious initiatives, Aster DM Healthcare has radically catalyzed the healthcare revolution in India. The current Indian healthcare market looks highly promising, and our efforts will be to increase our footprint in the country dynamically. We are investing heavily in our people, innovation and infrastructure to differentiate ourselves and create long-term value for all our stakeholders. The expansion of Aster CMI Hospital thus solidifies our unwavering commitment to the Indian business. The overall India business EBITDA for Aster DM Healthcare has grown at the rate of 35% CAGR over the past 5 years, which is reflected in the performance of EBITDA margin as well. We expect the strong performance to continue in the future, which will be supported by operational leverage on account of brownfield expansion and implementing various cost optimization measures.”

Dr. Nitish Shetty, CEO, Aster DM Healthcare, India said, “We are running our existing hospital (Aster CMI) at full capacity, hence we have decided to expand the infrastructure to accommodate the growing needs of patients. Aster CMI Hospital has already set new benchmarks on healthcare excellence and this expansion cements our promise to making quality healthcare easily accessible to the people in the region. This expansion of Aster CMI Hospital is expected to have a positive impact on both EBITDA and PAT, as it involves minimal fixed costs for operating the additional beds. We do not expect any margin dilution in the short term as well. Aster DM Healthcare (“Company”) is poised to make a significant impact on the healthcare landscape its focus on strategic growth, patient-centric care, and expansion in existing and newer geographies.”

The Company plans to add ~1700 beds by FY27 taking the total bed tally in India to 6600+ through the organic route and will further look for expansion through the inorganic route as well to achieve its aim of becoming the top 3 integrated healthcare providers in India along with a strong presence of labs and pharmacies in the geographies that Aster has a presence in. The plan encompasses a mix of brownfield and greenfield projects, including the upcoming Aster Capital in Trivandrum, and Aster MIMS Kasargod and adding bed capacity to the existing hospitals. The Company will also be eyeing potential markets such as Maharashtra and Uttar Pradesh. The capital allocation for this expansion is in the range of 1000cr.

As one of the most trusted healthcare providers, Aster DM Healthcare aspires to keep on raising the benchmark and continue its unwavering dedication of providing outstanding care to its patients.

Enjoy a Splash-tastic Summer & Witness History in Motion with Hong Kong’s Legendary International Dragon Boat Races

Hong Kong The Hong Kong Tourism Board and the Hong Kong-China Dragon Boat Association have announced the highly anticipated 2024 Hong Kong International Dragon Boat Races, welcoming tourists from around the world to witness the historic event. The two-day legendary sporting festival is scheduled to take place on June 15 and 16, 2024, against the stunning backdrop of Victoria Harbour. This international event will see over 170 teams and 4,000 global dragon boat athletes compete over an exhilarating weekend.

With summer breaks around the corner, Hong Kong is an ideal destination for tourists from India looking for exhilarating adventures and unique fun-filled water activities in the heart of the city to beat the heat. June is all about exciting “splash-tastic” fun starting with the historic, not-to-be-missed Hong Kong International Dragon Boat Races and moving onto music and water festivities to make the most of summer.

Dragon boat races originated centuries ago; however, the modern version began in Hong Kong around 40 years ago, in 1976. The high-paced sport, which is hosted annually, attracts hundreds of thousands of spectators and overseas visitors, offering them the opportunity to witness the excitement of dragon boat races while also experiencing the rich and authentic local culture.

This year, in addition to race categories for teams of all ages and the colourful fancy dress competition, visitors can explore an array of Instagram-ready dragon boat-themed LINE FRIENDS displays and indulge in local speciality drinks and sweets while cheering on the races. The event will also feature a food lane along the Avenue of Stars for nine days, starting June 8 till June 16, offering local craft beer, refreshing desserts, and ice-cold drinks.

The colourful Fancy Dress Competition, with teams dressing up as different characters in the race, always create a fun-filled ambience. (Photo: Hong Kong Tourism Board)

The Drone and Pyro Show at Victoria Harbour

Not to be missed are the monthly Drone and Pyro shows at Victoria Harbour that elevate the overall appeal of the celebrations. On the night of June 10, a newly curated drone show will be launched over the harbour, adding an extra layer of enchantment to the festivities that resonate throughout the city. A captivating Pyrotechnic Display is scheduled on June 15, the first day of the Hong Kong International Dragon Boat Races, to invite international visitors to enjoy a spectacular show under Hong Kong’s skyline after a full day of exciting races.

More events splashing into town in June

Making its debut this year on June 1st and 2nd is the popular Korean festival called Waterbomb, an event known for its music and water fights. The exciting water festival, hosted at the West Kowloon Cultural District, will showcase vibrant performances by renowned Korean artists such as Jay Park, Rain, Jessi, Hyuna, and more. Tourists and other audiences will also get a chance to experience thrilling water fights with their favourite stars.

The second week of June, i.e., June 8 and 9, will witness Hong Kong celebrate the largest water music festival – S20 – bringing electrifying performances by internationally acclaimed DJs and artists to the Central Harbour Front. From the power, excitement, and cultural splendour of the thrilling Hong Kong International Dragon Boat Races to immersing oneself in the water-splashing music festival at Hong Kong’s world-famous harbourfront, the city promises a fun-filled June to everyone. For more details and to start planning your next visit, head to www.discoverhongkong.com/eng.

Amity Software Systems Limited: Pioneering Innovation in Software Solutions

Noida, Uttar Pradesh, India Amity Software Systems Limited, a leading provider of cutting-edge software solutions, continues to push the boundaries of technology. Known for its obligation to greatness and consumer loyalty, Amity Software remains as a signal of development in the worldwide programming industry.

Amity Software has consistently delivered state-of-the-art solutions tailored to meet the evolving needs of diverse industries. With an emphasis on development, quality, and client-centricity, the company has earned far and wide praise for its capacity to address complex difficulties with simplicity and efficiency.

“At Amity Software Systems Limited, we are driven by a passion for innovation and a commitment to delivering superior solutions that empower businesses to thrive in a digital world,” said Lt Col Suresh Narayanan, General Manager at Amity Software Systems Limited. “Our team of experts combines technical expertise with creativity to develop solutions that not only meet but exceed the expectations of our clients.”

Amity Software’s employees exemplify the company’s core values of excellence, innovation, and customer focus. At Amity Software Systems Limited, representatives are not just workers; they are esteemed individuals from a dynamic and cooperative group. Employees bring their unique skills, knowledge and experiences to the table, contributing to the company’s success and growth.

Amity Software’s dedication to research and development is one of its key success factors. The company puts vigorously in Research and development drives to remain in front of arising trends and technologies, guaranteeing that its answers are dependably at the front of development. Amity Software Systems Limited empowers its team to push boundaries and explore new software development frontiers by encouraging a culture of continuous learning and exploration.

With a different portfolio of solutions crossing different enterprises like farming, coordinated factors, medical care, and money, Amity Software takes special care of the one of a kind necessities of its clients across the globe. From enterprise resource planning systems to supply chain management solutions, the organization offers an extensive set-up of items intended to smooth out tasks, improve proficiency, and drive development.

In addition to its commitment to development and quality, Amity Software puts extraordinary accentuation on customer satisfaction. The company works intimately with its clients to figure out their particular requirements and difficulties, giving customized arrangements that deliver substantial outcomes. Amity Software Systems Limited has established long-term partnerships with businesses of all sizes, from start-ups to multinational corporations, by focusing on its customers.

“Customer satisfaction is at the heart of everything we do at Amity Software Systems Limited,” said Lt Col Suresh Narayanan, General Manager at Amity Software Systems Limited. “We believe in establishing strong relationships with our clients based on trust, transparency, and mutual respect. By prioritizing their needs and striving for excellence in everything we do, we aim to become their trusted partner in their journey towards success.”

Amity Software stays focused on pushing the limits of advancement and conveying unmatched worth to its clients. With a tireless focus on greatness and an enthusiasm for innovation, the organization is ready to proceed with its development direction and concrete its situation as a worldwide leader in software solutions.

Discover the Largest Private Powerhouse of Startups in Rajasthan

Jodhpur, Rajasthan, India  Marwari Catalysts, a dynamic force in the entrepreneurial landscape, has supported over 25+ innovative startups from Rajasthan within its extensive portfolio of more than 80 startups. This remarkable growth, achieved in just three years, is further bolstered by its unique 100+ co-founders club. By nurturing local talent and fostering innovation, MCats is shaping a stronger and richer future for the region.

With game-changing startups like TURMS, Jaipur Watch Company, Insurance Padosi, Revoquant, Yearbook Canvas and Climekare, MCats, a leading startup accelerator is driving innovation. With four portfolio founders being featured on Shark Tank (Surender S. Rajpurohit, TURMS; Alpna Tiwari, Nushka Kitchen; Jaipur Watch Company, Gaurav Mehta; Deepesh Rajpal, Onedose), We have experienced 50x growth and savored 10x exits. MCats showcases the entrepreneurial spirit that sets Rajasthan’s scene apart from just deserts and palaces. These ventures, collectively generating over 200 crore in revenue, employing more than 1,200 people, and having raised over 125 crore in funds, are revolutionizing industries and paving the way for a prosperous future in the region.

MCats has built strong associations with several esteemed government and private incubators. Notable among these are IIT Jodhpur, iStart Rajasthan, Madhav University, and Ayurveda University. These collaborations enhance MCats’ capacity to nurture and accelerate startups, leveraging the rich resources, expertise, and innovative ecosystems these institutions offer.

Sushil Sharma, the visionary Founder of Marwari Catalysts, has always been motivated by a profound desire to contribute to his homeland and connect like-minded people. He says “gold” lies in Tier 2 and Tier 3 cities. MCats create local opportunities, reducing the need for migration to bigger cities. With a team of seasoned shareholders and mentors who have “been there, done that,” they offer invaluable guidance to emerging entrepreneurs. The 100+ Co-Founders Club fosters a collaborative environment where innovation thrives. This is just the beginning, as Sushil Sharma hints at even more ambitious plans ahead.

Spotlighting Rajasthan’s Leading Startups

Showcasing over 25 innovative startups from Rajasthan, categorised by their unique sectors.

Lifestyle

1. TURMS
2. Jaipur Watch Company
3. Prakrti
4. Thela Gaadi

Fintech

1. Revoquant
2. Insurance Padosi

Consultancy

1. Startup Chaupal
2. Click Catalysts

Edtech

1. Yougami
2. Learn N Build
3. Yearbook Canvas

D2C

1. First Crack Coffee Roasters
2. Freshwoof
3. Nuskha Kitchen
4. Prakrti
5. Thela Gaadi
6. Temporal Trendsetters

E-Commerce

1. Mobi Rapid

Health Care

1. Near Ambulance
2. Pratap IVF
3. Sarathi Health Care
4. One-Dose

Media & Entertainment

1. Jhumo Radio

SAAS

1. Literom

Sustainable & Climate Tech

1. Buy By Scrap
2. Climekare

Community Building

1. WorkAffair
2. Sarathi Health Care
3. The Book Cafe

Agritech

1. Freshokartz

Empowering Rajasthan’s Visionaries

We are incredibly proud of the remarkable startups emerging from Rajasthan,” said Sushil Sharma, Founder of Marwari Catalysts. “These startups embody the innovative spirit and entrepreneurial excellence that we strive to nurture at MCats. By supporting them, we aim to catalyse a new wave of growth and innovation in the state.

Gaurav Mehta, Founder of Jaipur Watch Company, shared his thoughts: “MCats is not just an accelerator, It is a community of like minded people, supporting each other to achieve something greater, More such initiatives are required PAN India to strengthen Indian ecosystem better.”

“MCats has been instrumental in our journey at TURMS, providing us with invaluable resources. Their unwavering support has not only helped us grow but also empowered numerous startups across India. MCats is truly transforming the startup ecosystem, creating opportunities for local talent to thrive and innovate.” remarks Surendra S. Rajpurohit, Founder & CEO of TURMS.

“Marwari Catalysts has transformed our journey with their strategic insights, financial backing, and giving us a second opinion in legal, marketing, branding, infrastructure & pivoting HR. Their unwavering support has fueled our innovation and growth, making a significant impact on the startup ecosystem,” shares Kapil Soni, Founder of Revoquant.

“Marwari Catalysts has been crucial in offering reverse brain-drain, creating the entire ecosystem; cafe, co working space, events, activating angel investor & finally, the acceleration program including funding,” asserts Anish Thomas, Head- Government Initiatives at Marwari Catalysts.

Driving Innovation and Economic Growth

MCats is dedicated to providing startups with the financial resources, strategic guidance, and mentorship they need to thrive, fostering a strong sense of community. By focusing on diverse sectors such as FinTech, SportTech/Gaming, ReligionTech, AR/VR, D2C, Ayurveda, Enterprise AI, MediaTech and Entertainment, PropTech, DefenceTech, BioTech, Food and AgriTech, Climate Change, Healthcare, Supply Chain Logistics, SpaceTech, and Tourism and Hospitality, MCats is addressing critical challenges and unlocking new opportunities for growth and development in Rajasthan. The 100+ Co-Founders Club exemplifies their commitment to collaboration and innovation.

The latest cohort, Thrive 8.0, epitomizes this commitment, supporting innovative startups across these key industries to foster a robust and dynamic startup ecosystem in the region. Additionally, MCats hosts an annual flagship event, Startup Xchange, which brings together entrepreneurs, investors, and industry leaders. This year, four startup Demo Days are scheduled in Mumbai, Bangalore, Delhi and Jaipur, providing a platform for startups to showcase their progress and innovations to potential investors and partners.

Join the Movement

Investors and entrepreneurs are invited to join this transformative journey, contributing to the growth and success of Rajasthan’s burgeoning startup ecosystem. Together, we can create a brighter, more prosperous future for Rajasthan, driving innovation and fostering a culture of entrepreneurship that will benefit generations to come.

Community Triumph: Reflex Gurugram Distributes 100,000 Food Packages

Gurgaon, Haryana, India  Reflex Gurugram, is thrilled to announce a significant achievement in their ongoing commitment to quality and community service which was announced in January 2023. Reflex Food Drive initiative has successfully distributed 100,000 packages, underscoring the dedication to providing top-notch culinary experiences across the region.

This milestone represents more than just a number; it is a testament to the hard work, passion, and support from the Reflex team and the community. The Food Drive initiative was launched with the mission to bring the exquisite flavors and exceptional quality of Reflex Gurugram, to more people, especially during challenging times. With 100,000 packages delivered, Reflex is proud to have made a meaningful impact on the community, ensuring that everyone has access to delicious, high-quality food.

Suman Bharti, Founder of Reflex Gurugram, said, “We are incredibly proud to have reached this milestone. This achievement is a reflection of our unwavering commitment to our customers and the community. We are grateful for the continued support and look forward to reaching even greater heights in the future.”

As we celebrate this milestone, Reflex Gurugram extends heartfelt thanks to everyone who has supported us on this journey. From our dedicated staff who work tirelessly to prepare and deliver these packages, to our loyal customers who continue to choose Reflex Gurugram this achievement belongs to all of us.

To join Reflex’s food drive and be a catalyst for change in the community, individuals are invited to visit www.reflexbrewery.com/food-drive. Reflex welcomes participation from all who wish to contribute to this noble cause. Whether through donations, volunteering, or spreading the word, every act of kindness helps make a difference.

Best Agrolife Limited Announces Steady FY24 Growth and Marks New Chapter with NSE Listing

New Delhi, Delhi, India Best Agrolife Limited (BSE: 539660, NSE: BESTAGRO), amongst India’s leading agrochemicals manufacturers, announced its audited financial results for the quarter and financial year ended March 31st, 2024 in the Board meeting held on 24th May, 2024.

Commenting on the result and overall update on the financial year 2023-2024, Mr. Vimal Kumar, Managing Director, Best Agrolife Ltd. said, “Despite the many challenges faced during the year, for the full year FY24, our revenue grew by 7% on Y-o-Y basis. This growth was driven by our shift in business strategy from institutional sales to branded sales. This has resulted in the growth of our branded business by 85%. However, the EBITDA margins reduced to 12% in FY24, mainly because of the stress on the gross margin due to pricing pressures in the market, primarily caused by oversupply from China. Combination of weather factors, our shift towards branded products, and an expanding distributor network led to higher trade inventory.

Additionally, employee costs have gone up due to a shift in business strategy. The planned increase in employee cost is a strategic investment to strengthen our sales distribution network. Also, other expenses have risen due to incremental marketing costs for focus on branded business.

Despite the high competition from imports, particularly pricing pressure from China and the challenges posed by the global economic climate, we have maintained good profit margins.

This year, our company achieved several significant operational milestones. We became a major partner in Kashmir Chemicals by acquiring a 99% stake, increasing our formulation capacities. Our strategic acquisition of Sudarshan Farm Chemicals will allow us to leverage SFCL’s robust R&D capabilities, IP portfolio, and backward-integrated technical manufacturing expertise. These developments will be crucial in enhancing our manufacturing and innovation capabilities.

The company continues to build upon a strong registration portfolio having garnered 94 registrations for newer technicals and formulations in FY’24. We have established a strong foundation for accelerated growth by securing patents for newer groundbreaking products. In FY’24 we launched multiple products, including our patented formulation “Tricolor”. Our past investments in research will see us launching multiple patented products such as “Warden Extra”, “Defender”, “Orisulam” and potentially “Shot Down” in FY’25. The new additions to our patent portfolio will see us reaping the fruits of our investments in FY’25 and beyond.

We continue to strategically expand our R&D capabilities with potential yields in the upcoming years. We are committed to developing safer and newer chemistries that are beneficial for the farmer and the environment. With a robust pipeline of new innovative and patented products coupled with an increased market presence, we are well-positioned to capitalize on emerging opportunities and drive value for our shareholders.

We have entered the new fiscal year with an optimistic outlook with our focus on delivering value to the farmer through R&D. I thank all our stakeholders for their continued support and faith in our company.”

For the quarter ended March 31st, 2024:

• Revenue from Operations declined by 46.68% Y-o-Y to Rs. 135.39 crore in Q4 FY24 compared to Rs. 253.91 crore in Q4 FY23, due to an unexpected seasonal failure, of Q3 and Q4 of FY24 as against normal seasonal conditions in same period last year, leading to lower-than-expected sales coupled with surge in sales returns
• Q4 FY24 EBITDA (excluding Other Income) was a loss of Rs. 67.10 crore against a profit of Rs. 7.14 crore in Q4 FY23
• Q4 FY24 PAT stood at loss of Rs. 72.49 crore against a loss of Rs. 8.41 crore in Q4 FY23, caused by price erosion and our investments in brand building

For the year ended March 31st, 2024:

• Revenue from Operations grew by 7.31% to Rs. 1,873.32 crore in FY24 compared to Rs. 1,745.68 crore in FY23. This is mainly due to significant growth in branded sales as compared to the previous corresponding period
• FY24 EBITDA (excluding Other Income) was at Rs. 225.59 crore against Rs. 313.66 crore in FY23, a decline of 28.08% on Y-o-Y basis. This is mainly due to shift in business strategy from institutional sales to branded sales, which has resulted in higher employee costs and other expenses. The increase in employee costs is attributable to the strategic investment in manpower to expand the dealer network. Additionally, other expenses have increased due to incremental travel and marketing expenses
• FY24 PAT stood at Rs. 106.27 crore.
• The Board recommended a final Dividend, subject to approval of shareholders, of Rs. 3 (30%) per equity of face value Rs. 10

Business Achievements/Developments in FY24:

Inorganic developments/Partnerships:

• Partnered with Syngenta for Pyroxasulfone 85% WG Herbicide “Movondo” becoming the first company in India to manufacture both the active ingredient and formulation of Pyroxasulfone
• Acquired 99% stake in Kashmir Chemicals, increasing our formulation manufacturing capacity
• Acquired Sudarshan Farm Chemicals, enhancing our R&D and Technical manufacturing capabilities

Products & Patents:

• Launched patented product “Tricolor”
• Developed a pipeline of patented products for launch in FY’25 and beyond
• Secured patents for 4 innovative groundbreaking agricultural solutions that are expected to have positive outcomes in FY’25.

Others:

• Got listed on National Stock Exchange
• Entered into a three MW solar plant power sharing agreement at the Gajraula unit, reducing energy costs by 33%
• Awarded the “Most Innovative Campaign and Product Development” company by PMFAI at the “Agchem Awards – 2024”

KSB Limited Sets Industry Benchmark with ISO- Certification for Excellence in Nuclear Safety Standards

Pune, Maharashtra, India KSB Limited, a pioneer in the manufacturing of critical application pumps for Nuclear power plants, has added a new feather to its cap. The Nuclear Projects Division of KSB Limited (Shirwal Plant) was recently credited with the distinguished ISO 19443:2018 certification.

Responding to this notable achievement, Mr. Nitin Patil, Vice President, Nuclear Business, KSB Limited said, “We are pleased to announce that KSB Limited is the first company in India in the pump industry to be accredited with ISO 19443:2018 certification. As the industry leader, and a trusted partner for nuclear power projects in India, we believe it is our responsibility to take continuous efforts in setting new industry standards. Adoption to new practices like this is a testament to our competence and commitment to excellence.”

Under this certification, KSB would cover the development, production, marketing, and servicing of pumps, auxiliary components, and systems in the nuclear field for products and systems classified as ITNS (Important to Nuclear Safety).

ISO 19443 is an international standard that defines the specific requirements of a quality management system for organizations supplying products and services important to nuclear safety (ITNS). It ensures robust quality management systems and the implementation of rigorous safety protocols.

“This certification is vital as it demonstrates our adherence to the highest standards of safety, reliability, and regulatory compliance, which are paramount in the nuclear power sector. The significance of ISO 19443 lies in its implementation to achieve proper operating conditions, prevent accidents, and mitigate accident consequences, resulting in the protection of workers, the public, and the environment from undue radiation risks, and enhancing the confidence of our clients and stakeholders in our processes and products,” he added.

MOGAS Awarded Contract to Support TC2C New Technology

Monday, July 2 Houston, United States : MOGAS Industries has been awarded a multimillion-dollar contract for the South Korean S-Oil Shaheen Project for the first-ever commercialization of TC2C™ (Thermal Crude to Chemicals) technology. The TC2C™ technology licensed by Lummus Technology converts whole crude and other refinery orphan streams into high value olefin and aromatic products, and includes one of the world’s largest steam crackers.

For over 50 years, MOGAS Industries has been the most trusted severe service technology company offering severe service valves, surface engineering / coating, modular process units, and aftermarket support. (Graphic: Business Wire)
For over 50 years, MOGAS Industries has been the most trusted severe service technology company offering severe service valves, surface engineering / coating, modular process units, and aftermarket support. (Graphic: Business Wire)

On the back of earlier project successes for ebullated bed hydrocracking with technology licensor Chevron Lummus Global (CLG), MOGAS will supply more than ninety 2-inch through 14-inch, ASME 300–2500 Class severe service valves and actuation packages, which include multiple fast-acting, metal-seated emergency shutdown valves.

“We are proud to be part of Aramco’s largest investment into South Korea and to be part of the first TC2C™ process plant. This investment will make a positive impact on the global marketplace with clean heavy crude upgrading that supports the green economy,” says MOGAS CEO Matt Mogas.

Recognized as a leader in severe service valves and service specifically in heavy oil applications for over 40 years, MOGAS provides a high level of confidence in both product and technical assistance, ensuring a smooth startup and operation. MOGAS has over 11,000 valves installed in more than 30 ebullated and slurry bed hydrocracking active operations world-wide.