OCTOBER 20268TOP STORIESVarroc Engineering Limited is expanding its electric mobility business through a proposed joint venture with France-based Forsee Power SA. The partnership will focus on EV batteries and battery-pack solutions for India's growing electric vehicle market.Under the proposed deal, Varroc will acquire a 45 percent equity stake in Forsee Power India, Forsee Power's Indian subsidiary specializing in battery-pack systems. Varroc will also take management and operational control of the entity. The transaction remains subject to applicable regulatory and corporate approvals.The partnership will initially target battery packs for three-wheelers before expanding into other vehicle categories. The companies plan to combine Varroc's automotive engineering and manufacturing capabilities with Forsee Power's battery technology expertise. Larsen & Toubro lands major EPC orders worth between Rs 2,500 crore and Rs 5,000 crore for high-profile capital projects in Delhi and Amaravati. These dual mega-orders underscore the growing demand for integrated high-end construction services across India's government-led urban and capital-city developments.L&T's Public Spaces, Airports & Health business vertical secures these wins, highlighting specialized engineering capabilities such as complex MEP systems, advanced structural work, and long-term operations and maintenance as key growth drivers for large EPC players beyond pure civil construction. The announcements reinforce how sophisticated building systems now power competitive advantage in prestige government projects. UltraTech Cement has expanded its manufacturing capacity in Andhra Pradesh with a Rs 2,650 crore investment in a new integrated cement plant. The facility, Petnikota Cement Works, is located in Nandyal district and is designed to operate entirely on green energy. The new plant has a clinker production capacity of 3.3 million tonnes per annum (MTPA) and a cement dispatch capacity of 3.6 MTPA. According to the company's press release, the facility is expected to create 650 direct jobs and 2,000 indirect employment opportunities.Construction began in May 2025, and the plant was commissioned within 14 months of its groundbreaking ceremony. Andhra Pradesh IT Minister Nara Lokesh highlighted the project's quick completion, calling it an example of the state's efforts to improve the ease of doing business. The India-New Zealand FTA takes effect on October 21, 2026, changing trade rules between the two countries. The agreement gives Indian exporters duty-free access to New Zealand's market and introduces tariff concessions on selected New Zealand imports into India.The deal also opens new temporary work visa pathways for eligible Indian professionals. However, India's tariff concessions will vary by product, with some reductions starting immediately and others being phased in over time. Indian goods will receive duty-free access across all tariff lines in New Zealand. The agreement also introduces preferential tariff treatment for selected New Zealand products entering India. Transmission grid tower manufacturing in India is gaining industrial significance as investments in electricity transmission infrastructure create opportunities for engineering, fabrication and equipment suppliers. Kalpataru Projects International Limited (KPIL) has secured new engineering, procurement and construction (EPC) orders worth approximately Rs 2,349 crore.L&T LANDS 2,500-5,000 CR EPC ORDERS FOR CAPITAL PROJECTSULTRATECH CEMENT INVESTS RS 2,650 CRORE IN NEW ANDHRA PLANTINDIA-NEW ZEALAND FTA: WHAT CHANGES FROM OCTOBER 21?VARROC BETS ON EV BATTERIES WITH 45% STAKE IN FORSEE POWER INDIAKPIL'S RS 2,349 CR INDIA ORDERS BOOSTS GRID TOWER MANUFACTURINGThe contracts have taken the company's financial year 2026-27 (FY27) order inflows beyond Rs 22,000 crore. While the announcement covers multiple business segments, its T&D component provides an opportunity to examine the manufacturing capabilities that support power infrastructure development, including steel tower fabrication, galvanizing and quality assurance.
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