MEGHA ENGINEERING
India seeks private investors to build its largest strategic petroleum reserve in Odisha at ₹8,571 crore cost
India is seeking private investors to build a 4-million-tonne strategic petroleum reserve at Chandikhol in Odisha at an estimated cost of ₹8,571 crore. The facility will increase the country’s existing strategic crude storage capacity by 80%.
Centre gets 22 bids for 10 GWh battery sops
The Ministry of Heavy Industries opened technical bids on Wednesday for advanced chemistry cell manufacturing capacity. Twenty-two bids were submitted by various companies, including ACME Solar Holdings and Reliance Industries. This initiative is part of the National Programme on Advanced Chemistry Cell Battery Storage approved in May 2021. The program has a financial outlay of Rs 18,100 crore and aims to enhance energy security.
22 firms chase 10 GWh battery prize under PLI scheme
The Centre's production-linked incentive scheme for advanced chemistry cell manufacturing has received bids from 22 companies. These bids aim to establish giga-scale manufacturing facilities in India. The scheme is part of a larger target to achieve 50 GWh of manufacturing capacity. The Ministry of Heavy Industries is managing the two-stage bidding process transparently. This initiative seeks to strengthen domestic battery manufacturing capabilities and attract international investments.
Biggest tunnel boring machines coming to Mumbai: Giant TBMs to dig twin Coastal Road tunnels between Kandivli and Malad; check route, project details
Mumbai's 22-km Versova-Dahisar Link Road project has moved closer to the construction stage, with two giant tunnel boring machines undergoing factory tests in Chennai. The 15.6-metre TBMs will excavate 3 km of the proposed 3.9-km twin underground road tunnels between Malad and Charkop, nearly 40 metres below ground. Scheduled for launch in May 2027, the machines will be transported to Mumbai in parts on around 100 trailers. Here is a look at the tunnel project, construction challenges, traffic benefits and environmental concerns.
Actis merges 11 India road assets into $1 billion trust
Actis LLP has consolidated 11 road assets worth around Rs 10,000 crore into its NXT-Infra Trust after raising Rs 1,180 crore from investors. The fundraising reduced Actis’ stake to 71%, with domestic investors holding the remainder. The move comes amid growing investor interest in India’s operating road assets, while Actis also sees opportunities in digital infrastructure, electric vehicles, waste recycling and water services.
Construction giant Megha Engineering's PV Krishna Reddy taps $700 million private credit to buy out uncle's share
With lenders such as Davidson Kempner involved in structuring the deal, it marks a significant milestone in the expanding influence of private credit within Indian corporate transactions.
Megha Engineering gets $225.5 mn contract in Kuwait
Hyderabad-based Megha Engineering & Infrastructures Ltd (MEIL) has secured a $225.5 million contract from Kuwait Oil Company to build, operate and manage a gas sweetening and sulphur recovery facility at Kuwait’s oilfields. The project will be completed in 790 days, followed by five years of operations and maintenance.
Megha Engineering secures historic contract for India's first private strategic petroleum reserve
Megha Engineering & Infrastructures Ltd. has won a Rs 5,700-crore project to build and operate India's first private-sector strategic petroleum reserve (SPR) in Padur, Karnataka. This initiative aims to significantly boost India's energy security by adding 2.5 million metric tonnes to the existing strategic stockpile.
NHAI debars Megha Engineering for Kerala NH-66 lapse
The National Highway Authority of India (NHAI) has debarred Megha Engineering & Infrastructures Limited (MEIL) for one year due to inadequate slope protection and drainage on Kerala's NH-66 Chengala-Neeleshwaram section. Following a slope collapse in June 2025, MEIL faces a potential penalty of Rs 9 crore and must reconstruct the works at their own cost under the Hybrid Annuity Model.
Megha Engineering emerges lowest bidder for Rs 12,800 cr nuclear power project
Megha Engineering & Infrastructures Ltd has been the lowest bidder for a Rs 12,800 crore engineering, procurement and construction (EPC) contract from the state-owned Nuclear Power Corporation of India. The company, which is the second-biggest buyer of electoral bonds and faces corruption allegations, submitted the lowest bid of Rs 12,799.92 crore.
Rs 315 cr corruption case: CBI books second-biggest electoral bond buyer Megha Engineering, 8 steel ministry officials
Hyderabad-based Megha Engineering & Infrastructures Ltd (MEIL) is one of the biggest electoral bond donors to BJP and BRS, and the second largest donor to Congress. P Pitchi Reddy and P V Krishna Reddy, the promoters of Megha Engineering that emerged as the second-largest donor of electoral bonds at Rs 1,232 crore, saw their wealth jump 53% and 51%, respectively.
Prashant Bhushan accuses Centre of favouring cos like Bharti Telecom, Megha Engg after they donated through electoral bonds
Senior Advocate Prashant Bhushan accused the central government of favoring companies like Bharti Telecom and Megha Engineering after they made donations to the party through electoral bonds. He alleged that these donations were made as quid pro quo arrangements for favors from the government.
Megha Engineering electoral bond purchases close to bagging contracts for major projects
Hyderabad-based Megha Engineering and Infrastructure Ltd (MEIL) has emerged as the second-biggest buyer of electoral bonds worth Rs 966 crore, according to data released by the Election Commission of India (ECI) on Thursday.
Megha Engineering, the company that spent over ₹1,200 crore on electoral bonds, began life as a small pipe-maker in Hyderabad
Between April 2019 and November 2023, Hyderabad-based Megha Engineering & Infrastructures Limited shelled out ₹1,232 crore — some of it directly and some through its associated companies. MEIL spent ₹966 crore, while its offshoots Western UP Power Transmission Co Ltd, SEPC Power, and Evey Trans Pvt Ltd spent ₹220 crore, ₹40 crore, and ₹6 crore, respectively.
All about Hyderabad-based Megha Engineering, the second-largest donor to political parties via electoral bonds
Hyderabad-based Megha Engineering and Infrastructure Ltd (MEIL), initially focused on municipal pipe manufacturing, rose to prominence in infrastructure development. It became the second-largest political donor via electoral bonds, with contributions amounting to Rs 966 crore. The company's notable projects include the Zojila tunnel and diverse ventures nationwide.
MEIL secures Rs 5,400 cr crude oil refinery project in Mongolia
Megha Engineering and Infrastructures Ltd (MEIL) has secured a $648 million work order in Mongolia from Mongol Refinery State Owned LLC. The order is for the construction of a crude oil refinery plant, which will produce 1.5 million tonnes of crude oil annually to meet Mongolia's domestic demand for gasoline, diesel, aviation fuel, and LPG.
iLabs taken to NCLT for reneging on Lanco deal
Lenders to the defunct Lanco Group have taken Hyderabad-based iLabs Group to court, claiming that the company has refused to part with the 29% stake it holds in Lanco Anpara Thermal Power to the power plant's winning bidder, Megha Engineering & Infrastructures.
Megha Engineering's first Make in India oil rig begins operation
MEIL is the first company in private sector to manufacture and use rigs used in oil and fuel extraction with advanced technology, a company statement said. As part of the Centre's Make in India programme, MEIL has manufactured these rigs for the first time in the country, it added.
Sole bidder Megha engineering gets Polavaram works
Firm submits bid at Rs 4,359 crore in reverse tendering process.
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