Memorandum of Understanding | Business Upturn

HUDCO and NBCC sign MoU for development of institutional complex in NOIDA

Matrika Shukla — Wed, 27 Nov 2024 12:28:40 +0000

Housing and Urban Development Corporation Limited (HUDCO) has signed a Memorandum of Understanding (MoU) with NBCC (India) Limited for the development of a 10-acre land parcel located in NOIDA. The agreement, finalized on 27th November 2024, outlines plans to create a world-class institutional complex on the site.

The proposed development will feature a built-up area of 8.71 lakh square feet, with a mix of office spaces, studio apartments, conference facilities, and retail and common amenities. NBCC will be responsible for executing the entire project, from concept to commissioning.

The MoU was signed by Shri S Thangaraju, Executive Director (PD&S) of HUDCO, and Shri A. K. Goyal, Executive Director (Engg.) of NBCC. The signing ceremony was attended by senior officials from both organizations, including Shri Sanjay Kulshrestha, CMD of HUDCO, and Shri K. P. Mahadevaswamy, CMD of NBCC.

This collaboration marks an important step in the development of modern infrastructure in NOIDA, contributing to the region’s growth and the creation of a dynamic, mixed-use complex that aims to cater to diverse needs in the urban landscape.

Waaree Tech inks MoU with 3DBattery to develop advanced energy storage solutions

United News of India (UNI) — Wed, 29 Nov 2023 12:10:12 +0000

Hyderabad, Nov 29 : Waaree Technologies Limited. (WTL), an energy storage division of the leading renewable energy and technology player Waaree Group, on Wednesday announced that it has signed a non-binding Memorandum of Understanding (MoU) with Israeli-based 3DBattery, to develop and produce advanced energy storage solutions, based on 3DBattery’s lithium-ion and upcoming sodium-ion technology.

Providing advanced Lithium ion battery cells with state-of-the-art chemistry, delivering improved energy storage performance, 3DBattery company offers a range of cell chemistries for a variety of applications, including Electric Vehicles, Micro Mobility, Stationary and Renewable Energy, a release said.

WTL aims to become India’s leading “Cell to System” technology company, offering reliable, affordable and high-quality energy storage solutions.

Through the collaboration, WTL will gain the capability to indigenously manufacture high-performance, rechargeable energy storage solutions, thus significantly strengthening the company’s position in the Indian, and global, new & energy domain.

Commenting on the partnership, Mr. Kirit Doshi, Chairman & Managing Director, WTL, said “We are excited to welcome 3DBattery on board as a partner. Their immense R&D capabilities, coupled with Waaree’s capabilities in manufacturing new energy solutions, will certainly pave the way for a paradigm shift in energy storage.

Leveraging 3DBattery’s path-breaking lithium-ion and sodium-ion battery technology will enable us to build capacities for 5GWh of battery cell production. Through this partnership, Waaree will be equipped with the capability to serve every segment of the energy storage market, and to become a driving force in the global clean energy transition.”

Through collaborations with global players in the renewable & new energy storage space, WTL reinforces its commitment to manufacturing, and driving the adoption of, new-age technologies that will reshape the world’s energy landscape and pave the path towards Net-Zero.

Union Bank of India and IREDA inks MoU to boost renewable energy projects

United News of India (UNI) — Tue, 05 Sep 2023 16:22:06 +0000

Hyderabad/ Mumbai, Sep 5 : Union Bank of India (UBI) and Indian Renewable Energy Development Agency Limited (IREDA) on Tuesday announced the signing of a Memorandum of Understanding (MoU) to foster collaboration and cooperation in various areas of renewable energy and financial assistance.

This MoU represents a significant step forward in advancing the goals of sustainable development and renewable energy adoption in India, the bank said in a release.

The MoU was held in Mumbai in the presence of A Manimekhalai, Managing Director & CEO, Union Bank of India & Pradip Kumar Das, CMD, IREDA.

The MoU comes into effect immediately upon signing and is initially valid for a period of five years. It may be extended further upon mutual consent of the parties involved, highlighting their long-term commitment to fostering the growth of renewable energy projects in India.

Under the MoU, both UBI and IREDA have pledged to collaborate on various fronts, including co-originating renewable energy projects, loan syndication and underwriting, management of Third-Party Resources (TRA) for IREDA borrowers, and the potential investment in IREDA Bonds.

Specifically, the collaboration encompasses the co-origination of projects in the realm of renewable energy, encompassing Small Hydro projects and Ethanol Projects.

Additionally, UBI and IREDA will work together to facilitate the syndication and underwriting of loans for renewable energy projects, promoting easier access to financial resources for the development of such projects.

The Bank will also play a crucial role in managing Third-Party Resources (TRA) for borrowers associated with IREDA, further enhancing the efficiency and effectiveness of project management.

India & Singapore extend MoU to strengthen cooperation in public administration until 2028

Viditha Ganji — Thu, 06 Jul 2023 17:13:27 +0000

New Delhi: The Department of Administrative Reforms and Public Grievances (DARPG), Ministry of Personnel, Public Grievances and Pensions, and the Public Service Division of the Republic of Singapore have signed a protocol document to extend the current memorandum of understanding (MoU) on cooperation on Thursday in the field of personnel management and public administration. The MoU will now be in effect until 2028, following a five-year extension. The signing ceremony, attended by senior officials from both countries, took place in New Delhi and virtually.

The extension of the MoU signifies the commitment of India and Singapore to deepen their partnership and strengthen collaboration in the realm of public service. The Ministry of Personnel, Public Grievances & Pensions stated that the objective is to enhance cooperation through various forms of engagement between the public services of both nations.

Under the renewed MoU, areas such as administrative reforms, public sector transformation, public service delivery, leadership and talent development, e-governance, capacity building, and training will be the focus of collaboration. These activities aim to foster the exchange of best practices and knowledge sharing between India and Singapore in order to promote effective governance and efficient public administration.

The signing ceremony was attended by V Srinivas, Secretary on behalf of DARPG, and Simon Wong, High Commissioner of Singapore to India. The event also witnessed the virtual presence and address by the Permanent Secretary, Public Service Division, Republic of Singapore.

This extension of the MoU reflects the commitment of both countries to strengthen bilateral ties and learn from each other’s experiences in public administration. It provides a platform for India and Singapore to engage in meaningful exchanges, leveraging their respective expertise to drive administrative excellence and deliver citizen-centric services.

The partnership between India and Singapore holds significant potential in facilitating the exchange of ideas, strategies, and innovative approaches to public service management. By leveraging technology and focusing on capacity building, both nations can enhance the efficiency and effectiveness of their public administration systems.

The Ministry of Personnel, Public Grievances & Pensions expressed confidence that the extended MoU will contribute to the continuous improvement of public administration practices in both India and Singapore. The collaboration will enable the exchange of valuable insights and pave the way for sustainable development, benefiting the citizens of both nations.

With the extension of the MoU, India and Singapore reaffirm their commitment to fostering a robust partnership in the field of public administration, setting the stage for further collaboration and advancements in the years to come.

GRSE signs MoU with Kongsberg Maritime for licensed production of water jets in India

United News of India (UNI) — Mon, 19 Jun 2023 16:29:01 +0000

Kolkata, June 19 : War ship maker Garden Reach Shipbuilders and Engineers (GRSE) Ltd and Kongsberg Maritime (KM), Finland, signed a Memorandum of Understanding (MoU) for co-production of indigenous Water Jets (WJs) of up to 3.5 MW on Monday, official sources said.

The MoU was signed by Cmde P R Hari, IN (Retd), Chairman and Managing Director, GRSE, and Mr Ottar Ristesund, SVP, Sales, Propulsion and Engines, Kongsberg Maritime (KM), in the presence of Vice Admiral Sandeep Naithani, AVSM, VSM, Chief of Materiel, Indian Navy.

Waterjet Propulsion Systems are extensively used onboard Indian Navy & Indian Coast Guard ships and therefore, this collaborative effort of GRSE and Kongsberg Maritime (KM) has huge market potential in the coming years.

Taking giant strides towards Atma Nirbharta, the GRSE had earlier signed a MoU with M/s Rolls Royce for co-production of high speed Marine Diesel Engines, a statement added.

The shipyard has also recently signed a contract worth (Approx.) Rs 250 Crs for manufacture and supply of 30 MM Naval Surface Guns to the Indian Navy.

NRL signs MoU with T-Hub for collaboration in Startup ecosystem

United News of India (UNI) — Thu, 18 May 2023 11:54:44 +0000

Guwahati, May 18: State run refiner, Numaligarh Refinery Limited (NRL) has signed a Memorandum of Understanding (MoU) with T-Hub (Technology Hub), a premier innovation hub and ecosystem enabler based out of Hyderabad, India on May 17, 2023.

Under the MoU, NRL and T Hub will jointly collaborate on business innovation and growth hack for NRL’s flagship startup program, ‘iDEATION’.

T-Hub is India’s pioneering innovation ecosystem and strives to create impact for startups, corporations and other ecosystem stakeholders. This MoU will mark a significant step in the direction of Atmanirbhar Northeast and Atmanirbhar Bharat’.

The MoU was signed by Sr. Chief General Manager, Corporate Affairs, NRL Shri Nikunja Borthakur and Chief Innovation Officer, T-Hub Shri Sujit Jagirdar amongst other officials at NRL Centre, Guwahati.

T-Hub (Technology Hub) has received the ‘Best Incubator in India’ for the year 2022 and the Best National Technology Business Incubator 2023 by Startup India.

T-Hub signs MoU with CIMP-BIIF to boost Bihar’s entrepreneurial ecosystem

United News of India (UNI) — Mon, 20 Mar 2023 11:18:22 +0000

Hyderabad, March 20: T-Hub, India’s leading innovation ecosystem on Monday signed an Memorandum of Understanding (MoU) with Chandragupt Institute of Management Patna, Business Incubation and Innovation Foundation (CIMP-BIIF), which manages B-hub in collaboration with the Department of Industries in Bihar.

The MoU was signed with the aim of synergizing and collaborating to boost the entrepreneurial ecosystem in the state of Bihar.

The T-Hub team participated in a two-day visit to attend a business conclave hosted by the CIMP in celebration of the occasion. The visit culminated in a series of events, including a student face-to-face interaction session, an entrepreneur session with incubated startups at B-hub, a management session with faculty and staff members at CIMP and CMP BIIF, and an official MoU signing ceremony, a release said.

Wing Commander Anish Anthony Retd (Chief Delivery Officer, T-Hub) and Saurabh Nitnaware (Manager, Government Innovation programs, T-Hub) were present during the MoU signing ceremony, alongside Prof (Dr) Prof Rana Singh, Director CIMP, Kumod Kumar (Chief Administrative Officer, CIMP), Prof Rajeev Verma, and other faculty members and staff of CIMP BIIF.

Speaking on the occasion, Anish Anthony said, “We are excited to partner with CIMP BIIF in Bihar to boost the entrepreneurial ecosystem in the state. Through this strategic collaboration, we aim to share our expertise and knowledge to help build a vibrant startup ecosystem in Bihar, creating opportunities for the youth and fostering innovation and growth.”

He also congratulated both teams and shared insights into T-Hub’s journey towards becoming the world’s largest and India’s best innovation & incubation ecosystem.

Prof Rana Singh during his address expressed his gratitude and appreciation towards the T-Hub team for extending the immense support and collaboration.

He said, “This MoU is a remarkable one for the state of Bihar as it would be a great opportunity for CIMP BIIF to learn from the masters of this field i.e., T-Hub.
We would try our best to replicate the T-Hub model of incubation in Bihar and like always as leaders, we wish and envisage ourselves to be in the role of mother incubation centre under the startup ecosystem in the state of Bihar,” the CIMP Director added.

(Except for the headline, this story has not been edited by Business Upturn staff and is published from a syndicated feed.)

Saudi Tourism signs MoU with EaseMyTrip

United News of India (UNI) — Fri, 20 May 2022 09:57:08 +0000

New Delhi, May 20: The Saudi Tourism Authority and EaseMyTrip have signed a Memorandum of Understanding (MoU). To boost inbound tourism to Saudi Arabia by leveraging EaseMyTrip’s extensive travel network. Through the MoU, EaseMyTrip and Saudi Arabia Tourism will explore opportunities to jointly collaborate. On key initiatives and undertake various activities to promote. And develop quality tourism experiences in Saudi Arabia. And expand its presence in the Indian market, a statement from EaseMyTrip said on Friday.

As a part of the collaboration, EaseMyTrip will promote the ‘Visit Saudi‘ initiative, raise destination awareness in India. And amplify Saudi Arabia’s diverse travel experiences. EaseMyTrip will also provide greater connectivity and convenience for its customers. By offering specifically curated tourist packages to Saudi Arabia. And multi destination travel packages that include leisure destinations and a few renowned events.

It will also undertake various online and offline initiatives to showcase the vibrant and rich culture, unique experiences, festivals and various tourist attractions of Saudi Arabia. Co-Founder, EaseMyTrip Rikant Pittie said, “Through our collaboration with Saudi Tourism, we aim to strengthen its awareness across our community highlighting the destination’s unique range of travel experiences. In addition, the collaboration also enables us to strengthen our offerings. In the region by making it more accessible through enhanced connectivity, thereby providing more value to our customers. We look forward to growing our relationship with the Saudi Tourism Authority, and enabling our customers to experience all that Saudi Arabia is about.”

Chief Markets Officer – APAC, Saudi Tourism Authority Alhasan Aldabbagh said, “Saudi is a new, unique leisure and spiritual tourism offering, a destination that is untapped and unexplored.” “As we work towards achieving our ambitious tourism goals, India is a key source market for Saudi and this signing is key in paving the way for strategic tourism collaboration with EaseMyTrip, to unlock opportunities for growth and strengthen the position of Saudi as a must-visit destination,” he said.

IIT Madras & Kathmandu University sign MoU

News Desk — Mon, 16 May 2022 16:20:55 +0000

MoU has been signed between Kathmandu University (KU) in Nepal and the Indian Institute of Technology Madras (IIT-M), India for a joint degree program at the Post-graduation level.

PM Modi in Lumbini Monday was on an official visit. On arrival at Lumbini, Prime Minister was received by the Nepal PM.

An agreement between the Indian public sector undertaking SJVN Ltd and Nepal Electricity Authority (NEA) for the design and implementation of the Arun 4 hydro-project too was signed.

An MoU was signed between CNAs and ICCR, Tribhuvan University on the establishment of the ICCR Chair of Indian Studies.

Another MoU was a topic of discussion and penned down. Between Indian ICCR and Kathmandu University (KU) on the establishment of the ICCR Chair of Indian Studies.

Both the leaders have participated in the foundation stone laying ceremony for the wonderful and epic construction of a Centre of Buddhist Culture and Heritage in Lumbini.

This key occasion was observed on a highly auspicious day of Buddha Pournima. This is being looked at both the countries which are spiritually rich in culture. Both countries have diverse similarities in spiritual practices being followed.

They have also visited the Maya Devi Temple. Moreover, as Prime Minister, this is PM’s fifth visit to Nepal and first to Lumbini.

India and Nepal ink 6 MoUs during PM Modi’s Lumbini visit

United News of India (UNI) — Mon, 16 May 2022 09:33:43 +0000

Lumbini/New Delhi, May 16: India and Nepal inked six MoUs following talks between Prime Minister Narendra Modi and his Nepalese counterpart Sher Bahadur Deuba in Lumbini, today. These include: 1. Memorandum of Understanding between Indian Council of Cultural Relations (ICCR) and Lumbini Buddhist University on the establishment of Dr. Ambedkar Chair for Buddhist Studies 2. Memorandum of Understanding between Indian Council of Cultural Relations (ICCR). And CNAS, Tribhuvan University on the establishment of ICCR Chair of Indian Studies 3.

Memorandum of Understanding between Indian Council of Cultural Relations (ICCR) and Kathmandu University (KU). On the establishment of the ICCR Chair of Indian Studies 4. Memorandum of Understanding between Kathmandu University (KU), Nepal and Indian Institute of Technology Madras (IIT-M), India 5. Letter of Agreement (LoA) between Kathmandu University (KU), Nepal and Indian Institute of Technology (IITM), India [ For Joint degree program at Master’s level] 6. Agreement between SJVN Ltd and Nepal Electricity Authority (NEA) for Development and implementation of Arun 4 Project.

(Except for the headline. This story has not been edited by Business Upturn staff and is published from a syndicated feed.)

Tata Steel signs MoU with Mitsui OSK for eco-friendly shipping solutions

Vandana Nampoothiri — Tue, 24 Aug 2021 10:25:44 +0000

In an official statement on Tuesday steel manufacturer, Tata Steel said that the company signed a Memorandum of Understanding (MoU) with Mitsui O.S.K. Lines (MOL), a global marine transport group on August 6 to develop and deploy environment-friendly shipping solutions.

The company with its larger sustainability objective aims to reduce greenhouse gas emissions in the supply chain, Tata Steel said in the statement.

“The objective of the agreement is to reduce greenhouse gas (GHG) emissions in the ocean transportation of raw materials for production of steel. In the initial stage, the partnership will explore the environmental benefits and commercial and operational feasibilities of various technologies,” said Peeyush Gupta, Vice President, Supply Chain, Tata Steel.

Toshiaki Tanaka, Senior Managing Executive Officer and Chief Environment and Sustainability Officer, MOL, said, “We have recently established MOL Group Environmental Vision 2.1, wherein we have announced that MOL Group will make a concerted effort to achieve net-zero GHG emissions by 2050. The partnership with Tata Steel encourages MOL to challenge goals for the Vision 2.1.”

MOL has been jointly studying the ‘wind challenger’ technology with cross-industrial partners and the first vessel to be equipped with the technology is slated to start operation in 2022.

Tata Steel share prices went up by 3% to trade at Rs. 1,399.40 apiece.

Indian Army signs MoU with Bank of Baroda for ‘Baroda Military Salary Package’

Divya Joyce — Tue, 22 Dec 2020 11:00:12 +0000

Indian Army and Bank of Baroda have signed a Memorandum of Understanding (MoU) for ‘Baroda Military Salary Package’. The MoU was signed by Lt Gen Ravin Khosla, DG (MP&PS) and Shri Vikramaditya Singh Khichi, Executive Director, Bank of Baroda in presence of Lt Gen Harsha Gupta, Adjutant General, Indian Army who also chaired the meeting. The MoU lays down the basis on which banking services would be provided by Bank of Baroda to serving and retired personnel of the Indian Army.

Services under ‘Baroda Military Salary Package’ will be offered to serving and retired personnel of the Indian Army through the Bank’s network of over 8,200 domestic branches and around 20,000 business correspondent touchpoints.

The package offers very attractive benefits including free Personal Accidental Insurance cover, Permanent Total Disability cover, Partial disability Cover and Air Accident Insurance Cover of sizeable amounts, as well as Higher Education Cover and Girl Child Marriage Cover on death in case of serving personnel. Other offerings under the package include unlimited free ATM transactions at all bank ATMs, waivers or concessions on various service charges in retail loans, free remittance facility through RTGS/NEFT, free Demand Draft/Banker’s Cheque, substantial discount in locker rentals, and various additional benefits in the usage of Cards.