OCTOBER 20239TOP STORYGRSE SIGNS AGREEMENTS WITH INTERNATIONAL COMPANIES FOR MEDIUM-SPEED ENGINES & HYDROGEN FUEL CELL FERRIESTHE NATIONAL MINERAL EXPLORATION TRUST HAS APPROVED 309 MINERAL EXPLORATION PROJECTSGarden Reach Shipbuilders and Engineers (GRSE), a defence shipbuilder, announced that it has signed non-binding Memorandums of Understanding (MoUs) with overseas firms for the development of a hydrogen fuel cell ferry and the sale and maintenance of medium-speed engines, primarily for the Indian Navy and the Indian Coast Guard. Two secret non-binding MoUs were signed by GRSE during the Defence and Security Equipment International (DSEI) Exhibition in London, according to the company's correspondence with the stock exchanges.The Kolkata-based shipbuilder has signed a memorandum of understanding (MoU) with Caterpillar Inc. for a prospective partnership in the production, sale, and service of medium-speed engines, primarily for the Indian Navy and the Indian Coast Guard. It has also inked an MOU with Lloyd's Register for the development of a hydrogen fuel cell ferry. This action is a part of India's revolutionary initiatives to promote environmentally friendly and economically viable alternative fuels.In accordance with the Global Maritime Green Transitions effort, Union Minister for Ports, Shipping, and Waterways Sarbananda Sonowal recently disclosed the government's proposal to create hydrogen-fueled electric vessels in collaboration with Cochin Shipyard Limited and The Energy and Resources Institute.In an effort to diversify, GRSE has also signed a Memorandum of Understanding with the DEMPO Group to build commercial ships at three of its top shipyards in Goa and Bhavnagar. After setting the bar for public-private partnerships in India's warship-building industry, this is GRSE's first significant entry into the commercial shipbuilding industry. The National Mineral Exploration Trust (NMET) has so far given its approval to 309 mineral exploration projects, with a total projected expenditure of Rs 2,100 crore, an official statement said. The information was shared in a meeting of the Consultative Committee for Ministries of Coal and Mines to review the functioning of the NMET.Addressing the meeting, Union Coal and Mines Minister Pralhad Joshi said the Union government is extending substantial financial and technological assistance to state governments to further promote mineral exploration and make India self-reliant in mineral production, the statement issued by the Ministry of Mines said."It was informed that to boost mineral exploration, NMET has approved 309 projects with an estimated cost of Rs 2,100.14 crore for regional and detailed exploration in different parts of the country being carried out by various Notified Exploration Agencies and Notified Private Exploration Agencies (NEAs & NPEAs)," it said.Out of the 309 approved projects, 151 projects have been completed to date, while the rest are in progress, as per the statement. Besides mineral exploration projects, NMET is also funding projects for generation of baseline geoscience data, and funding the development of the National Geoscience Data Repository (NGDR) Portal of GSI. The National Mineral Exploration Trust (NMET) was established by the Centre to expedite mineral exploration in the country.
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