Hindustan Construction Company (HCC) has been awarded a contract by NHPC Limited to rehabilitate the Salal hydroelectric plant , located in Jammu and Kashmir, India. The agreement is valued at ₹524.17 crore and will have a completion timeframe of 27 months.
Specifically, the construction company will carry out civil and hydromechanical works on the dam , focusing on restoring the lower gates of the concrete structure. The contract also includes auxiliary and complementary tasks to return these systems to operational condition.
According to HCC, the intervention will allow the gates to function fully again; these structures are part of the systems that manage the flow of water and sediment in the dam.
In addition, the company expects the works to improve sediment management ; this aspect influences the performance of a hydroelectric plant because the accumulation of material can affect the operation of certain hydraulic structures.
In turn, the rehabilitation seeks to improve the operational efficiency of Salal; HCC also links the work to the safety and reliability of the dam during its long-term operation.
Furthermore, the contract marks Hindustan Construction Company's return to a facility it helped build decades ago. The Salal hydroelectric power station has an installed capacity of 690 MW and began operating in 1987.
In this way, the company will return to working on infrastructure linked to its history in the hydroelectric sector of Jammu and Kashmir . The new contract focuses on rehabilitating existing components rather than developing a power plant from scratch.
Furthermore, the hydroelectric project plays a vital role in the region's energy infrastructure. The work will allow for the modernization of systems at a facility that has been in operation for several decades.
Hindustan Construction Company has also participated in other hydroelectric projects in Jammu and Kashmir. These include Uri-II (240 MW), Kishanganga (333 MW), Nimoo Bazgo (45 MW), and Chutak (44 MW).
Together, these facilities and Salal represent 1,352 MW of installed capacity, according to HCC, that figure is equivalent to about 38% of the installed hydroelectric capacity of Jammu and Kashmir.
Therefore, the new contract expands the company's activity on hydroelectric assets in the area. It also reinforces the continuity of its work on facilities that require civil works and specialized hydromechanical systems.
Beyond energy, HCC has developed transport projects in Jammu and Kashmir. The company participated in the construction of the Anji Khad cable-stayed railway bridge.
In addition, the company completed approximately 32 kilometers of tunnels for the Udhampur-Srinagar-Baramulla rail link. These projects demonstrate that its presence in the region also encompasses large-scale railway infrastructure.
Finally, the awarding of the NHPC contract places HCC once again at the Salal hydroelectric plant. Over the next 27 months, the work will focus on restoring the dam's gates and improving the facility's operating conditions.

Cadeller acquired the German company Menck for €501 million (approximately $578 million) to expand its services in the construction of offshore wind farms. Menck manufactures equipment for installing foundations on the seabed, including large hydraulic hammers, drilling systems, and noise reduction solutions. The company will continue to operate independently within the group and will be able to work with other contractors in the sector.
The acquisition combines Cadeler's fleet of installation vessels with Menck's technical expertise. This will enable Cadeler to offer more transport and foundation installation services using its own resources. Cadeler expects to reduce its reliance on subcontractors, gain flexibility, and improve the execution of increasingly larger projects. The purchase will be financed with available funds and a €380 million credit facility, which the company plans to subsequently replace with long-term financing and cash flow.
Marathon Petroleum, Phillips 66, and Valero Energy reported combined profits of $12.6 billion for the second quarter, their highest since 2022. Disruptions to crude oil shipments through the Strait of Hormuz and attacks on Russian refineries reduced global supply. This drove up fuel prices and the margins companies earn by refining crude into gasoline, diesel, and other products.
The three companies returned $6.3 billion to their shareholders through dividends and share buybacks, compared to $2.6 billion a year earlier. Phillips 66 expanded its buyback program by $10 billion, while Valero authorized an additional $5 billion. The positive momentum also extended to Wall Street: during the year, Marathon's shares rose nearly 110%, Valero's more than 98%, and Phillips 66's around 75%.
Diversified Energy is in advanced negotiations to acquire Birch Resources for more than $1.7 billion in cash, according to sources cited in the report. Birch operates in the Permian Basin, the largest oil-producing region in the United States. Diversified is reportedly well-positioned in a competitive bidding process, and the deal could be announced in the coming weeks. However, the discussions could still change or end without a transaction.
The purchase would expand Diversified's presence in the Permian Basin after acquiring Maverick Natural Resources for $1.3 billion in 2025. It would also represent a profitable exit for Elliott Investment Management and other investors who backed Birch's assets with approximately $775 million after acquiring them in 2018. The potential transaction comes as the rebound in oil and gas prices fuels further acquisitions within the U.S. energy sector.
The cybercriminal group Cl0p claimed to have stolen large amounts of data from nearly 50 companies in several countries, including Shell, Philips, Fiserv, and GE. Philips confirmed that it detected and contained an attack on a server containing internal information, but stated that its customers' systems were not affected. Shell is investigating a possible incident, while Fiserv indicated that it has so far found no evidence of exposure of customer data, banking information, or transactions.
The attacks may be linked to security flaws in Windchill and FlexPLM, PTC software used in industrial and engineering processes. Experts had warned in July that Cl0p was exploiting vulnerabilities in this software. The group typically looks for flaws that allow it to attack many organizations simultaneously and then use the obtained data to exert pressure. Reuters indicated that it could not independently verify the volume or type of information Cl0p claims to have stolen.