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Category: Business

  • Vikas Ecotech Board Reduces More Debt under Debt Reduction Program Phase-II; Moving Towards Zero Debt Regime

    Vikas Ecotech Board Reduces More Debt under Debt Reduction Program Phase-II; Moving Towards Zero Debt Regime

    Read Time:1 Minute, 30 Second

    New Delhi (India), March 21: BSE (560961) & NSE (VIKASECO) listed Vikas Ecotech Ltd. an emerging player in the global arena of the high end specialty chemicals players, offering eco-friendly and technologically superior products to the world has announced that on persistence and support extended by the promoters of the Company, it has paid back Rs. 60 million today, taking the total amount of bank-debt reduced in the Phase-II to Rs. 360 million and the overall bank-debt reduction to Rs. 580 million till date.

    After completion of both these phases, and intended additional bank-debt repayment, bank-debt shall get reduced by approx. 55% from the peak exposure, paving the way towards becoming a ‘ZERO Debt Company’ in 2023.

    Recently, Vikas Ecotech had informed exchanges that it has been diversifying to newer markets with innovative products.

    As a measure of backward integration, the Company has commissioned a Steel Pipe Fittings plant, which after trial production, went into commercial production almost 2 months ahead of schedule.

    Earlier the company from its Specialty Chemicals & Compounds Business division, had recently secured fresh orders valued at about INR 65 million, adding to the healthy order book with more than 700MT of orders which will be contributing to the performance for the current financial year, closing the current fiscal with exciting numbers. The order book consists of new up-graded versions of materials developed by the Company for renowned national and international brands keeping up with the ever-changing fashion trends and performance pre-requisites updated regularly by the footwear industry. Company’s esteemed customers include renowned OEM Suppliers for fashion Brand “Zara” namely – Bitufelt & Tej Shoetech; and “Clarks” namely Unisol India; apart from the regulars like Relaxo Footwears and many more.

    About Post Author


    RNT Reporter


    dhaval.rntoday@gmail.com

    https://republicnewstoday.com

  • How Medius AI is digitizing collections to help India’s NPA crisis

    How Medius AI is digitizing collections to help India’s NPA crisis

    Read Time:3 Minute, 42 Second

    The AI-powered collection intelligence platform uses predictive technology to help banks identify and reduce NPA

     March 21: Medius AI, a collection intelligence platform, is pioneering digital debt management and NPA (non-performing assets) resolution for banks in India. Launched in 2021 by Nitin Purswani, Medius AI aims to revolutionize the lending industry by decreasing the volume of bad loans and NPA across the sector. Rooted in the idea to equip banks with actionable insights, Medius AI is helping overcome the intensifying crisis of NPAs that has significantly grown after the Covid-19 outbreak. 

    Medius AI delivers artificial intelligence and machine learning capabilities to lenders. Even as digitization continues to transform the banking industry, debt collection operations remain very manual, and archaic medium AI helps to improve recovery rates by restoring values from past due accounts. Banks may outsource debt management to Medius AI, which uses a tech-first approach to help unlock the potential of AI and ML for behavioural analysis and predictive models. Banks benefit from a 30% increase in operational efficiency, a 15% increase in recovery rate, and the ability to manage 3x more cases using Medius AI. Several data points are used to predict a delinquent borrower’s recovery chances. This is done by segregating and segmenting customers and collection based on exposure, risk, and behavioural dimensions, along with capacity and willingness to pay, preferred contact method, and preferred channels of interaction. Etc.  

    Nitin, the company’s founder and CEO who comes with a deep understanding of technology, says, “The core of any banking business runs on three pillars – distribution, operations and recovery. While many fintech start-ups in the past decade have focused on the first two, the final frontier of this business – collections and recovery – has remained under-invested. Sadly, the collections industry has been saddled with painful, low-value workflows and poor customer experience. Despite this massive shift in consumer behaviour, consumer credit collections are often still highly focused on the outbound call centre model, with optimization across alternative channels still limited. We are strategically utilizing digitisation in conjunction with traditional banking systems to solve the NPA crisis at scale. Ever since the pandemic, the banks have written off about Rs 2.2 lakh crore of bad loans. The conventional method of debt collection through tele-callers and field agents often results in friction and sabotages customer experience. With our tech-based solution, we have an early mover advantage to integrate higher transparency and symmetry into the process.” 

    According to the RBI report, the NPA could jump to 9.5 per cent or higher by September 2022 as a result of expected increases in stressed assets and loan costs. Since the inception of the company, over 15 banks & NBFCs have used Medius AI and have been able to improve the recovery rate by 17%. We provide the solution for every stage of debt management, which makes it easier for us to take action on risk accounts. Medius AI also assists banks with automated legal workflows by sending thousands of legal notices in minutes, providing an internal team with a bird’s eye view of the entire collection and legal cases, allowing for faster decision making. 

    Nitin further adds, “The pandemic wreaked havoc on the society, forcing us all to embrace digitization. We recognized the need for such a solution and began researching and diving deeper into the market. We discovered that to prevent, rather than reduce, nonperforming assets, banks will require an AI and analytics capacity stack that delivers intelligent and personalized solutions. The Medius AI is all about increasing efficiency reducing costs, time, and risk. Bringing down NPA and bad debts is aligned to our organisation’s larger vision, making the economy stronger and more resilient, and helping banks overcome the operational and manual challenges associated with the debt collection process.”

     The Way Ahead 

    We’ve witnessed tremendous growth in the last year and are optimistic about the future. Our objective is to entirely automate and optimize the collection industry, thereby strengthening the financial institutions in our country. We understand that this is a long term vision & will need support from the right set of investors & we are, therefore, in the process of closing our first round of fundraising. Over the next 12 months, we will be onboarding 50+ well known financial institutions, including private & public sector banks & leading NBFC.

    About Post Author


    RNT Reporter


    dhaval.rntoday@gmail.com

    https://republicnewstoday.com

  • Linktree Raises $110 Million USD Led By Index and Coatue to Power Next Phase of Growth for Creators, Consumers and Brands – Primex News Network

    Linktree Raises $110 Million USD Led By Index and Coatue to Power Next Phase of Growth for Creators, Consumers and Brands – Primex News Network

    Secures Michael Olson as US-based President

    New Delhi (India), March 19:  Linktree today announced $110 million USD funding led by Index Ventures and Coatue at a valuation of $1.3 billion USD.

    The company’s fast-paced growth trajectory to 24 million users in the past year ensured follow-on from previous investors AirTree Ventures and Insight Partners, and new participation from Greenoaks Capital, renowned for investments in Coupang, Canva and Airwallex.

    Linktree is the link-in-bio category creator that enables users to create a streamlined online identity to showcase, and commercialize, their profile. It is utilized by artists, and brands globally including TikTok, Selena Gomez, Noah Beck, Bella Poarch, Red Bull, Shawn Mendes, the Los Angeles Clippers, Comedy Central, Dwayne ‘The Rock’ Johnson, and HBO. Linktree helped 1.7 million people drive 1.2 billion clicks to commerce-related websites in the last year alone.

    Users now exist across 250 verticals worldwide. From 2020 to 2021, the platform’s influencer, small business, and music verticals have grown on average more than 300% each. Linktree will use this funding to focus on additional geographic expansion, revenue streams and further value for its creators and brands via new tools and partnerships.

    With its expansion into Indian Territory, it has noticed immense growth and engagement from a broad range of industries. Some of the leading names from India include Byju’s, BMW India, Jio Saavn, Sugar Cosmetics, Forbes, Mumbai Indians and many more. “Linktree will connect creators and audiences, facilitate and maximize the huge potential to expand the digital economy in India,” said Country Manager Linktree, Sapna Patel.

    “We have grown beyond the traditional ‘link-in-bio’ company, connecting users’ fragmented online presence and establishing our position as a new sub-sector of the tech industry. This funding will ensure we continue to innovate and develop tools that empower people to grow, curate, and monetize their digital universe, maintaining Linktree as the market leader,” said Alex Zaccaria, co-founder, and CEO, Linktree.

    Linktree marks this milestone with the hire of their first President, Michael Olson. Michael has a long and distinguished career in the gaming and creator economy having held Executive Growth and Operational positions at Twitch, Pandora, Linked-In and Microsoft. Based in the US, he will drive market and category leadership for Linktree and their growing team.

    “I’m honored to be joining Linktree at this milestone moment. Over the past few years, the creator economy has grown rapidly and Linktree has led the way through innovations in discovery, engagement, and monetization – there are so many commercial possibilities with an audience of this size,” said Mike Olson, President, Linktree.

    Officially dubbed as ‘unicorn’, Linktree continues to prioritize the needs of creators, consumers, and brands as one of the top 300 most popular website destinations globally with 1.2 billion unique visitors a month.

    Linktree enables creators, brands, artists, publishers, agencies, and businesses of all sizes to curate an online ecosystem, engage with their audience and monetize their passion.

    Linktree is among the top 300 most popular website destinations globally, with 1.2 billion unique visitors a month. In 2021 alone, Linktree enabled over 1 million artists to generate 90 million visits to streaming providers – twice as many artists and three times as many clicks as in the year prior.

    The platform is utilized by more than 24 million creators, artists, and brands globally including TikTok, Selena Gomez, Noah Beck, Bella Poarch, Red Bull, Shawn Mendes, the Los Angeles Clippers, Comedy Central, Dwayne ‘The Rock’ Johnson, and HBO.

    The platform continues to prioritize the needs of creators, recently releasing Commerce Links and Stores, which include integrations with Shopify, Square, Paypal, spring, and GoFundMe. Since acquiring Songlink/Odesli in August 2021, Linktree has also announced exciting new partnerships with Bandsintown, Audiomack, Soundcloud, and Community.

    Founded by Brothers Alex and Anthony Zaccaria and Nick Humphreys in 2016, Linktree is headquartered in Melbourne, Australia.

    For more information visit https://linktr.ee/.

  • Star Imaging Path Lab recognized for delivering Best Diagnostic Services – Primex News Network

    Star Imaging Path Lab recognized for delivering Best Diagnostic Services – Primex News Network

    New Delhi (India), March 19: Star Imaging & Path Lab received the award for Best Diagnostic Lab at 5th edition of Six Sigma Leadership Summit organized at Pulman Aerocity. The award recognises the best diagnostic centre providing the best quality services to their patients with precision & personalised care. Sh. Anurag Thakur, Union minister for youth services and sports felicitated Dr. Sameer Bhati, Director, Star Imaging & Path Lab with Oscars of Healthcare: Proud Maker of India Award for his relentless services during unprecedented Covid times. Dr. Sameer Bhati, Director, Star Imaging & Path Lab said,” It gives us immense happiness to be able to contribute & make efforts for the developing Healthcare System of India.

    We all thrive to make it more accessible, affordable & future ready.” Talking about promoting research & brainstorming on future plans of Healthcare management, Dr. Bhati said, “India needs a well trained & skilled Healthcare work force as well as participation of stakeholders to increase the reach of Health & Welfare Initiatives in the remotest areas.” A book “The Armed Forces Book of Records” in the memory of beloved India’s 1st CDS, Late General Bipin Rawat was also released. Dr. Bhati added, “We salute his remarkable contribution on his birth Anniversary.”

  • BNI Ahmedabad aims to facilitate Rs. 10,000 crore business by 2025 – Primex News Network

    BNI Ahmedabad aims to facilitate Rs. 10,000 crore business by 2025 – Primex News Network

    Nitish Agarwal, Executive Director of BNI Ahmedabad, says the organisation’s members have emerged stronger from the pandemic.

    Ahmedabad, March 19: Business Network International (BNI), the world’s leading business referral organisation, is looking to give a significant boost to the economy by more than doubling the business transactions it facilitates in Ahmedabad.

    BNI Ahmedabad has 38 chapters and a membership base of more than 2,000. The members include businesses of all sizes and from sectors including real estate, manufacturing, services, architects, brokers, Information Technology, retail, and much more.

    “Networking is a great tool for growing business, and nobody does it better than BNI,” says Nitish Agarwal, Executive Director, BNI Ahmedabad, ranked as the world’s fastest-growing region for four years.

    BNI Ahmedabad, which was launched in 2014 with the aim to usher in professionalism in the business community by bringing about a change of attitude and mindset, launched two more chapters last week to take its total network to 38 (OR 40?). The organisation has helped facilitate business transactions of more than Rs. 4,100 crore so far, and aims to touch the figure of Rs. 10,000 crore by 2025.

    “Our members are benefiting from the networking and referral opportunities that BNI Ahmedabad provides. It is because members invest in each other and help one another grow. I can confidently say that every member has grown by 150%, not just in terms of business, but even in terms of networking, attitude, and learning since becoming a part of BNI,” said Mr Agarwal.

    BNI Ahmedabad has seen its membership base growing rapidly because of positive word of mouth and aims to more than double the numbers in the next two years.

    The learnings and networking helped BNI Ahmedabad members come out stronger from the Covid-19 pandemic.

    “There was certainly an impact of the pandemic, especially in the first few months. But, we transited smoothly to the digital mode. We used the time and opportunity to enhance members’ knowledge through a series of online knowledge sharing and educational initiatives. The result of all these efforts is that members’ businesses have grown faster post-pandemic,” he said.

  • Spetrol, the Warangal-based startup aspires to be ‘Amazon’ for fuel delivery in Telangana, Karnataka and Andhra Pradesh – Primex News Network

    Spetrol, the Warangal-based startup aspires to be ‘Amazon’ for fuel delivery in Telangana, Karnataka and Andhra Pradesh – Primex News Network

    Spetrol Founder Ram Budime and Team

    Warangal (Telangana) [India], March 19: Spetrol, a Warangal-based startup, intends to be the ‘Amazon’ of High-Speed Diesel (HSD) door-to-door delivery by developing its energy distribution network to over 300 customers across sectors in Telangana, Andhra Pradesh, and Karnataka by 2022-23.

    Being Telangana’s premier energy distribution startup, Spetrol is following government policy, which states that there is a significant demand for HSD for fixed equipment such as generator sets, earth moving equipment, heavy machinery used on building sites, mobile towers, and so on. Businesses who required fuel delivered had to contact for each delivery, which was a time-consuming process. An online automated fuel delivery service eventually becomes the logical choice.

    Founded in 2021 by entrepreneurs—Ram Budime and Neeharika Reddy, Spetrol is an online application to book fuel delivery across industries like logistics, real estate, hospitality, warehousing, and agriculture. The IoT-enabled transportation system minimise travel costs, logistics cost, and delivery time.

    Spetrol’s Ram Budime stated, “Spetrol is on track to increase its clientele to 300 customers across sectors and services over the next 10-15 months in states such as Telangana, Andhra Pradesh, and Karnataka.” In the financial year 2022-23, we are targeting a business worth Rs 300 crores across industries.”

    Businesses who rely on machinery, backup generators, or a fleet of vehicles have already recognised the value of fuel delivery services. They lose time and money when they run out of fuel. Budime explained that when fleets and facilities grow, the requirement to acquire and stock additional gasoline increases.

    Spetrol’s Sirisha stated, “Spetrol is currently delivering 1,00,000 Ltrs of HSD per month in and around Warangal to mining and heavy machinery industries.”

    Spetrol’s Android and iOS-based Mobile App offers a convenient and quick ordering system. It’s as simple as ordering food online. Not only ordering, but users can also conveniently monitor their fuel usage in the app.

    The company assures the greatest level of quality and safety by transporting diesel in tanks that have been pre-approved by the Ministry of Petroleum and Natural Gas as well as the Petroleum and Explosives Safety Organization (PESO). Diesel is procured directly from the OMCs and transported in tankers which are equipped with tamper-proof electronic locks protected by cutting-edge geo fence technology that allows the tankers to be opened for decantation only when they arrive at the designated site.

    The company ensures the highest level of quality and safety by delivering diesel in tanks that have been pre-approved by the Ministry of Petroleum and Natural Gas as well as the Petroleum and Explosives Safety Organization (PESO). Diesel is purchased directly from OMCs and carried in tankers fitted with tamper-proof electronic locks and advanced geofencing technology that allows the tankers to be opened for decantation only when they arrive at the appropriate spot.

    All the delivery trucks are enabled with an IoT solution that allows real-time monitoring and tracking, seamless logistics management, and reduced order fulfillment time.

    Neeharika Reddy of Spetrol said, “We plan to expand the brand to future energies as well. When India has adopted Electric Vehicles (EVs), the company has plans to supply batteries to the machinery and vehicles running on electricity.”

  • OSL’s Riverine Navigation Success at Paradip Port- Handles, Transfers Tata Steel’s 400 MT Imported Heavy Lift Cargo to Kalinga Nagar – Primex News Network

    OSL’s Riverine Navigation Success at Paradip Port- Handles, Transfers Tata Steel’s 400 MT Imported Heavy Lift Cargo to Kalinga Nagar – Primex News Network

    Bhubaneswar (Odisha) [India], March 19: Adding yet another feather to its cap of scripting scores of success stories, Odisha’s veteran stevedoring firm Orissa Stevedores Limited (OSL), under the able stewardship of its managing director (MD) Mahimananda Mishra, has achieved its mission of handling and transferring heavy lift cargo via riverine navigation from Paradip Port.

    Accordingly, OSL has been successful in discharging heavy lifts of about 400 metric tonnes (MT) at Paradip Port as well as positioning the cargo at Luna Jetty by virtue of riverine navigation.

    Pertinent to note that Luna Jetty is about 45 km away from Paradip Port.   

    Also, need to be mentioned here that Tata Steel had imported four (04) heavy lifts from China through Paradip Port in association with freight forwarder Deugro/Golden Coast. Since the packages could not be traversed through the road from the port to destination (Kalinga Nagar in Odisha’s Jajpur district), the task of transferring the same was awarded to OSL as the premier stevedoring organization possesses the unique expertise in handling heavy lifts and transferring the cargo via riverine navigation.

    Soon after unloading the heavy-lift cargo from the mother vessel MV Yangez Venus, the heavy lifts were loaded onto Pontoon Sanvi. With the help of tow, Sanvi was navigated to Luna jetty, and subsequently, the packages were discharged by roll-off method and transferred to their destination.

    It is significant to mention here that OSL, a veteran of stevedoring in Odisha for over 46 years, is now venturing into riverine navigations to give one-stop solutions to all types of cargo, including the last-mile delivery, which had been a logistical challenge for many.

  • Oltao’s New-Generation Luxury Ceiling Fans Transforming Indian Homes Forever – Primex News Network

    Oltao’s New-Generation Luxury Ceiling Fans Transforming Indian Homes Forever – Primex News Network

    Udaipur, March 19: Udaipur-based entrepreneur Mehul Soni’s luxury ceiling fan brand, Oltao (www.oltao.co), has been empowering buyers across India with extraordinary unique ceiling fans that are a fusion of fan and chandelier.

    Despite the ever-growing availability of fancy and decorative pieces for floor and wall decoration, people are only left with very limited choices when it comes to the ceiling. Thinking and buying fancy things for the ceiling is a problem most homeowners face. It is why many people invest in chandeliers to amplify the beauty of their homes.

    Although there are numerous unique and gorgeous chandelier designs available, the fact that chandeliers have to share space with ceiling fans cannot be ignored. On the other hand, most fan brands play with different colours and designs, so people don’t feel left out if they choose to have a fan over a chandelier. However, the demand for fans in every Indian home is ever-growing too.

    Realizing this growing need for Indian homemakers for fans and chandeliers, Mehul Soni’s brand, Oltao, has emerged out of the blue by making a fusion of chandelier and fan, wherein the fan blades will only be visible when they are needed. Otherwise, it will stay put as a beautiful chandelier, looking complete in itself.

    The main objective of the Oltao Luxury Fan brand is to offer its customers a hundred percent satisfaction by delivering an exquisite concoction of technology and beauty. By bringing them up close with evolutionary innovations that would not only thrill them but also every other person who visits their home as guests. Also, by providing an enlightening experience to all of them through premium quality products that can walk the talk.

    The luxury combination of ceiling fan and chandelier comes equipped with a BLDC motor. The BLDC motor is one of the most advanced motors often used in aircraft, electronic vehicles, robotics, and computer disk drives, amongst other applications. The BLDC motor in Oltao’s fans delivers added features like 6-speed functionality, noiseless operation, 70% less power consumption, and summer or winter mode.

    As the BLDC motor can rotate both clockwise and anticlockwise, the summer or winter mode enables the consumers to use the fan in the winter season because the fan will throw hot air in the upper part of the room or hall from sideways.

    This luxury combination of chandelier and fan is fully wireless remote-controlled based. It comes with a light and fan mode, crystal invisible fan light, three-block wind power, three-colour thermoregulation, crystal description, and more unique features. The brand has been regularly upgrading its product and offers a 5-year warranty to the buyers. The brand also uses only premium quality raw materials such as colour coating, motor, and crystals for delivering the best.

    The mastermind behind it all, Mehul Soni, has worked in many fields, including technology and customization, in his lifetime. But his passion and interest in computers and electronics have always overpowered his most significant life decisions. It led to the creation of his successful brand, Oltao, back in 2019, when he was just 25 years old. Over the years, his luxury fan brand has become recognized and loved by consumers all over India. He believes Oltao is just getting started and that he has a long way to go from here.

    Learn more about the on Instagram: https://www.instagram.com/oltao_/

  • Oltao’s New-Generation Luxury Ceiling Fans Transforming Indian Homes Forever

    Oltao’s New-Generation Luxury Ceiling Fans Transforming Indian Homes Forever

    Read Time:2 Minute, 51 Second

    Udaipur, March 19: Udaipur-based entrepreneur Mehul Soni’s luxury ceiling fan brand, Oltao (www.oltao.co), has been empowering buyers across India with extraordinary unique ceiling fans that are a fusion of fan and chandelier.

    Despite the ever-growing availability of fancy and decorative pieces for floor and wall decoration, people are only left with very limited choices when it comes to the ceiling. Thinking and buying fancy things for the ceiling is a problem most homeowners face. It is why many people invest in chandeliers to amplify the beauty of their homes.

    Although there are numerous unique and gorgeous chandelier designs available, the fact that chandeliers have to share space with ceiling fans cannot be ignored. On the other hand, most fan brands play with different colours and designs, so people don’t feel left out if they choose to have a fan over a chandelier. However, the demand for fans in every Indian home is ever-growing too.

    Realizing this growing need for Indian homemakers for fans and chandeliers, Mehul Soni’s brand, Oltao, has emerged out of the blue by making a fusion of chandelier and fan, wherein the fan blades will only be visible when they are needed. Otherwise, it will stay put as a beautiful chandelier, looking complete in itself.

    The main objective of the Oltao Luxury Fan brand is to offer its customers a hundred percent satisfaction by delivering an exquisite concoction of technology and beauty. By bringing them up close with evolutionary innovations that would not only thrill them but also every other person who visits their home as guests. Also, by providing an enlightening experience to all of them through premium quality products that can walk the talk.

    The luxury combination of ceiling fan and chandelier comes equipped with a BLDC motor. The BLDC motor is one of the most advanced motors often used in aircraft, electronic vehicles, robotics, and computer disk drives, amongst other applications. The BLDC motor in Oltao’s fans delivers added features like 6-speed functionality, noiseless operation, 70% less power consumption, and summer or winter mode.

    As the BLDC motor can rotate both clockwise and anticlockwise, the summer or winter mode enables the consumers to use the fan in the winter season because the fan will throw hot air in the upper part of the room or hall from sideways.

    This luxury combination of chandelier and fan is fully wireless remote-controlled based. It comes with a light and fan mode, crystal invisible fan light, three-block wind power, three-colour thermoregulation, crystal description, and more unique features. The brand has been regularly upgrading its product and offers a 5-year warranty to the buyers. The brand also uses only premium quality raw materials such as colour coating, motor, and crystals for delivering the best.

    The mastermind behind it all, Mehul Soni, has worked in many fields, including technology and customization, in his lifetime. But his passion and interest in computers and electronics have always overpowered his most significant life decisions. It led to the creation of his successful brand, Oltao, back in 2019, when he was just 25 years old. Over the years, his luxury fan brand has become recognized and loved by consumers all over India. He believes Oltao is just getting started and that he has a long way to go from here.

    Learn more about the on Instagram: https://www.instagram.com/oltao_/

    About Post Author


    RNT Reporter


    dhaval.rntoday@gmail.com

    https://republicnewstoday.com

  • OSL’s Riverine Navigation Success at Paradip Port- Handles, Transfers Tata Steel’s 400 MT Imported Heavy Lift Cargo to Kalinga Nagar

    OSL’s Riverine Navigation Success at Paradip Port- Handles, Transfers Tata Steel’s 400 MT Imported Heavy Lift Cargo to Kalinga Nagar

    Read Time:1 Minute, 23 Second

    Bhubaneswar (Odisha) [India], March 19: Adding yet another feather to its cap of scripting scores of success stories, Odisha’s veteran stevedoring firm Orissa Stevedores Limited (OSL), under the able stewardship of its managing director (MD) Mahimananda Mishra, has achieved its mission of handling and transferring heavy lift cargo via riverine navigation from Paradip Port.

    Accordingly, OSL has been successful in discharging heavy lifts of about 400 metric tonnes (MT) at Paradip Port as well as positioning the cargo at Luna Jetty by virtue of riverine navigation.

    Pertinent to note that Luna Jetty is about 45 km away from Paradip Port.   

    Also, need to be mentioned here that Tata Steel had imported four (04) heavy lifts from China through Paradip Port in association with freight forwarder Deugro/Golden Coast. Since the packages could not be traversed through the road from the port to destination (Kalinga Nagar in Odisha’s Jajpur district), the task of transferring the same was awarded to OSL as the premier stevedoring organization possesses the unique expertise in handling heavy lifts and transferring the cargo via riverine navigation.

    Soon after unloading the heavy-lift cargo from the mother vessel MV Yangez Venus, the heavy lifts were loaded onto Pontoon Sanvi. With the help of tow, Sanvi was navigated to Luna jetty, and subsequently, the packages were discharged by roll-off method and transferred to their destination.

    It is significant to mention here that OSL, a veteran of stevedoring in Odisha for over 46 years, is now venturing into riverine navigations to give one-stop solutions to all types of cargo, including the last-mile delivery, which had been a logistical challenge for many.

    About Post Author


    RNT Reporter


    dhaval.rntoday@gmail.com

    https://republicnewstoday.com