Current Affairs - Business

Hindalco Industries, a leading industry group, has collaborated with the Indian Coast Guard (ICG) to promote the manufacturing and supply of indigenous marine-grade aluminium for shipbuilding. This collaboration formalized through a Memorandum of Understanding (MoU), aims to enhance India's self-reliance in the shipbuilding sector and support coastal security operations by providing high-quality aluminium for constructing ships designed for shallow water operations.

Adani Green Energy has signed a 20-year power purchase deal for wind power stations with Sri Lanka, as approved by the Sri Lankan government. This agreement reflects the company's engagement in renewable energy projects in Sri Lanka.

Amul, the renowned Indian dairy giant, has been chosen as the Lead Arm sponsor for the USA and South Africa cricket teams during the upcoming T20 World Cup in June. This sponsorship is significant as it reflects Amul's global presence and its support for sports, particularly cricket, showcasing its commitment to promoting sportsmanship and healthy lifestyles.

Adani Green Energy Ltd (AGEL) successfully secured USD 400 million in financing from international banks for its 750 MW solar projects in Rajasthan and Gujarat. This funding reflects growing investor confidence in AGEL's renewable energy projects and supports the company's efforts to expand its renewable energy capacity in India.

Indian Oil Corporation (IOC) is making a substantial investment of Rs 5,215 crore to develop 1 gigawatt (GW) of renewable energy capacity in India. This investment encompasses solar, wind, and hybrid projects as part of IOC's strategy to diversify beyond traditional oil and gas ventures.