Hiranandani Group awards contract to Sener-Afcons for LNG facility.

Real estate firm Hiranandani Group has awarded a contract to Sener-Afcons J.V. for an 8 million tonnes per annum LNG import, storage and regasifications terminal at Jaigadh port at Ratnagiri in Maharashtra. "H-Energy Gateway Private limited (HEGPL), a Hiranandani Group Company, has issued a Letter of Award to Sener-Afcons J.V. for the EPC contract for an 8 million tonnes per annum LNG import, storage and regasifications terminal," the group said in a statement.

IL&FS Engg Services bags Rs. 1,232 cr road contract from NHAI.

IL&FS Engineering and Construction Company Limited has bagged Rs. 1,232 crore road project contract from National Highways Authority of India (NHAI). The letter of award is for four laning of Patna Gaya Dobhi Section of NH-83 for 127 km in Bihar to be executed under Japanese International Cooperation Agency (JICA) ODA Loan Assistance. The project has to be completed within 1095 days from the commencement date. According to a statement from the Hyderabad-based construction company, the widening of this highway will give a major boost to the tourism industry there as it falls under the Buddhist circuit. It is expected to provide substantial economic gain in terms of reduced vehicle operating costs and reduced travel time.

Aegis to set up centre in Australia.

Aegis, Essar Group's Business Process Outsourcing arm, is to invest up to $4 million for a new centre for analytics, social media and multilingual capabilities in Melbourne, Australia. The centre, which will be company's hub for Asia-Pacific, will provide employment for up to 550 people. The hub will be equipped to provide a full range of business analytics, social media and multi-channel customer experience solutions, the company said in a statement.

Indian government plans for first reverse SEZ in Iran.

The first reverse SEZ (special economic zone) project, a concept through which Indian chemical and petrochemical companies will be encouraged to set up plants in other countries to manufacture basic raw materials, is likely to come up in Iran. This was stated by Ananth Kumar, Union Minister for Chemicals and Fertilisers, yesterday during the inauguration of India Chem 2014. Ananth Kumar added that the talks are in initial stages. The ministry has prepared a white paper for the reverse SEZ and is also involving Finance Minister and External Affairs Minister in this process. According to government sources, when the concept of reverse SEZ was first floated, Iran, Myanmar and Mozambique were front runners as these countries have abundance of oil and gas resources, a key feedstock for petrochemicals and petroleum industry. Now, ministry believes that Iran could be an ideal place to start reverse SEZ project since many refineries in India already import crude from Iran and have working business relationship with Iranian companies. Ananth Kumar said through reverse SEZ Indian companies can have excess to low-cost feedstock to make petrochemicals, which than can be imported into India for downstream industries right from textiles, plastics, paints, dyes, pharmaceuticals, etc. In addition, the minister said that India is also holding talks with Iran for setting fertiliser plant in that country � similar to the one already existing in Oman. Stating that the exact investment scale is not yet finalised, Ananth Kumar informed that for setting up a 1.2-million tonne urea plant on an average Rs. 5000-6000 crore is required. In Oman, Indian Farmers Fertiliser Cooperative Limited (IFFCO) and Krishak Bharati Cooperative Limited (KRIBHCO), along with Oman Oil Company SAOC (OOC) have established Oman India Fertiliser Company SAOC (OMIFCO) for urea project. Indian Government believes that the urea off take agreement with OMIFCO will provide the country with a reliable and long term source of urea. According to Ghomalreza Ansari, Iranian Ambassador to India, Iran offers unique investment opportunities to Indian companies as it has abundance of energy resources and is also closer to India. He said that chemical companies can look at Iran as a reliable supplier of raw materials to meet the needs of downstream industry and a dependable partner for �Make in India� campaign, which was announced by the Indian government recently.

Govt plans to spend Rs. 1-lakh cr for Madhya Pradesh PCPIR.

Adding to the already approved list of four petroleum, chemicals and petrochemical investment regions (PCPIRs) is the new PCPIR in Bina, Madhya Pradesh. The government anticipates an investment of Rs 1 lakh crore to set up the new PCPIR which will be located near Bina refinery. Launched in March 2007, PCPIR policy was envisaged to promote integrated manufacturing location for refinery, petrochemical crackers, and other downstream industries. The government till date has approved four PCPIRs � Dahej (Gujarat), Paradip (Odisha), Vishakhapatnam-Kakinada (Andhra Pradesh) and Cuddalore-Nagapattinam (Tamil Nadu). While the construction work at Dahej and Paradip has already started, the other two PCPIRs are still to take off. In fact, the Narendra Modi-led Government recently constituted steering committees to fasten the process and monitor the progress of these PCPIRs. Speaking during the Madhya Pradesh Global Investors Summit on October 10, 2014, Ananth Kumar, Union Minister of Chemical and Fertilizers, said, �A new PCPIR will be set up near Bina refinery, which will be expanded to 15 million tonnes (MT) from 6 MT by BPCL.� During his visit to India Chem 2014 event in Mumbai a day before, Ananth Kumar had informed that state governments of Madhya Pradesh, Karnataka and Rajasthan have approached his ministry with a proposal for setting up special investment zones for petroleum and petrochemicals in their respective states. He said that the centre will extend necessary support to all state governments for their proposals.

Nabard launches dairy development project in Madurai.

The National Bank for Agriculture and Rural Development (Nabard) launched the 'Integrated Dairy Development Project in Sindhupatti Watershed under its Umbrella Programme on Natural resources Management (UPNRM) in Madurai District, recently. UPNRM is a special window operated by Nabard with micro finance and grant components aimed at giving fillip to eco-friendly income generation activities, especially in Nabard's Watershed project areas. R Amalorpavanathan, Deputy Managing Director, Nabard, launching the programme at Udayanpatti village in Chellampatti Block in the district, said that in a scenario where monsoon is playing truant, farmers need to look to multiple sources of income with a basket of diversified activities. He exhorted the farmers to scale up to the next level with the help of integrated dairy-related activities envisaged under one umbrella and bestow attention on the precious water bodies without waiting for the government machinery to take up conservation works. He also referred to some of the projects already under implementation in Madurai under UPNRM such as Sustainable livelihood for Broom stick makers in Kallikudi block, improving the livelihood of Thatch makers in Sekkipatti and Eco friendly agriculture in Sirumalai Hills.

GERMI commissions 200 kW rooftop solar project in Ranchi.

Gujarat Energy Research and Management Institute (GERMI) has completed a 200-kilowatt (kW) rooftop solar power project with micro-grid concept at Ranchi in Jharkhand. The grid-connected rooftop solar power project, jointly designed by GERMI and the Central Mine Planning and Design Institute (CMPDI), was set up on the CMPDI building in Ranchi on October 9, according to an official statement. The commissioning of the project comes in the backdrop of the Ministry of New and Renewable Energy's thrust for solar power systems. At the inauguration of the unit in Ranchi, S K Srivastava, Secretary, Ministry of Coal, Government of India, appreciated the hard work of GERMI and CMPDI employees and added, "Coal India has signed an MoU with the Ministry of New and Renewable Energy (MNRE) for installation of 1,000 megawatt (MW) solar power system." Started as a pilot project in September 2013, the project was completed within one year, the statement said. GERMI is the technical specialist for this pilot project.

State to take ADB loan for Rs. 1,377-cr. irrigation project

With the State facing frequent droughts, the government is set to implement a Rs. 1,377-crore mega irrigation project. It will borrow Rs. 918 crore ($150 million) from the Asian Development Bank (ADB) and the remaining amount of Rs. 459 crore ($75 million) will be the State�s share. The loan repayment period is 30 years and the interest is 0.75 per cent. The project � Karnataka Integrated and Sustainable Water Resources Management Investment Programme � will be implemented during 2014�2021, according to officials of the Karnataka Neeravari Nigam Ltd (KNNL). The two-phase project will help KNNL staff roll out river basin management plans. In the first phase, Gondi irrigation system (Shimoga district) will be modernised. In the second phase, work will be taken up on the Vijaynagara canal and the Tungabhadra Left Bank Canal. The project is aimed at increasing water use efficiency, reducing the gap between the actual and potential area that can be irrigated, and promoting water efficient techniques and technologies. Currently, irrigated farmland (around 3.09 million hectares) suck up over 84 per cent of the State�s total water, but agriculture only contributes 16 per cent to the State�s GDP. Agriculture remains the main source of employment (55 per cent). At present, poor infrastructure and lack of water-saving technologies in canals result in substantial waste.

International consortium proposes to build power plant in Telangana.

A Saudi-American-Chinese consortium has proposed to build a coal-fired power plant in Telangana at a cost of around $ 3-4.5 billion. Saudi businessman Faiz Al-Abideen, who leads the consortium, presented a letter of commitment to Telangana Deputy Chief Minister Mohammed Mahmood Ali who was in Saudi Arabia to perform Haj, a media report said. Ali welcomed the proposal and said his government's top priority is to attract foreign direct investment from abroad, especially Saudi Arabia and will discuss the proposal with Chief Minister K Chandrasekhar Rao, the Arab news reported. "I came here little knowing that I will go back with this concrete proposal from Saudi Arabia. We will have to discuss its feasibility with the Environment Ministry and other relevant government departments," Ali said. The group has built 17 power plants in Saudi Arabia and abroad, including Turkey.

JSW Steel in advanced stages of acquiring London Mining.

Set to expand its global footprint, the country's third-largest steelmaker JSW Steel is close to acquiring embattled West African iron ore miner London Mining in a bid to secure raw material for its plant. "JSW Steel is very close to finalising a deal to acquire London Mining which is battling big debts amid crashing iron-ore prices and the Ebola outbreak in Africa, where it operates a mine," a source privy to the information said. The announcement of acquisition may be made on October 21 along with the financial results, the source said without divulging details of the deal or financial considerations.

CSL receives 'in principle' approval for dry dock

Cochin Shipyard (CSL) has received 'in principle' approval of the Shipping Ministry for the construction of a large dry dock which is estimated to cost Rs. 1,200 crore. The company intends to raise capital to meet its expansion plans through a judicious mix of debt and equity options, a CSL press release said. To maintain the growth momentum, CSL has identified projects for expansion in the short, medium and long term. The yard has identified considerable potential in the ship repair business and has taken land on lease in the Cochin Port Trust premises for setting up of an International Ship Repair Facility with Ship lift system. The capital cost for the facility is Rs. 487 crore and is expected to take about five years for setting it up.

SunEdison begins production of solar material using polysilicon technology.

Solar power company SunEdison has started production of solar material using its polysilicon technology which would lower costs of solar equipment. This represents a step-change in technology and will enable SunEdison to deliver a 400 watt peak solar panel at a cost of $0.40 per watt peak by 2016, according to a statement from SunEdison. The technology, called "high pressure fluidized bed reactor" (HP-FBR), produces high purity polysilicon 10 times more efficiently and with 90% less energy used than non-FBR technologies.

Azim Premji buys Rs. 350-crore stake in Chennai company.

Premji Invest, the family investment office of Wipro boss Azim Premji, has invested Rs 350 crore ($57 million) to acquire a minority stake in payments-processing and technology company Financial Software & Systems (FSS). Billionaire Premji's investment vehicle, which manages assets worth over $2 billion, has boarded the company which offers payment services of about 100 banks and financial institutions globally. The Chennai-headquartered company powers retail delivery channels such as ATMs, point-of-sale terminals, prepaid cards, mobile and internet for its clients. Premji and existing private equity investors � NYLIM Jacob Ballas and New Enterprise Associates (NEA) � are pouring money into FSS, which is planning an initial public offering in the next 24 months.

India to develop a river port in Bangladesh.

It is reported that India will be reportedly developing a river port in Bangladesh that would enable it to ferry essentials, foodgrains and heavy machinery from within the country and abroad to the North-East. Mr Sandeep Chakravorty, India's Deputy High Commissioner in Dhaka, said that "India would provide necessary funds to develop the Ashuganj port over Meghna river. India�s two North-Eastern states and Bangladesh as well would be benefited if the river port's necessary infrastructure were developed." According to Mr Chakravorty, Water, Power Consultancy Services Limited is preparing a Detailed Project Report for developing the port. WAPCOS, governed by the Union Ministry of Water Resources, offers consultancy services in all facets of water resources, power and infrastructure sectors in India and abroad. The Ashuganj port is located on the Meghna river in eastern Bangladesh, around 40 kilometer from Agartala, the capital of Tripura. Mr. Chakravorty said that "The Bangladesh government is also keen to provide access of Chittagong international port to India."

BEML bags INR. 570 crore order from DMRC.

Business Line reported that BEML Limited has bagged INR 570 crore order from Delhi Metro Rail Corporation (DMRC) for the supply of 70 cars which are in addition to 92 cars being manufactured for Delhi Metro.

CCI approve JSW Steel acquisition of Welspun Maxsteel.

PTI reported that steel major JSW Steel's proposed over INR. 1,000 crore deal to acquire sponge iron maker Welspun Maxsteel has got the approval from the Competition Commission. According to the fair trade regulator the proposed deal is "not likely to have an appreciable adverse effect on competition in India." On August 18th 2014, JSW Steel had entered into a 'Share Purchase Agreement' with Welspun Enterprises to acquire entire shareholding of Welspun Maxsteel. Welspun Maxsteel is promoted by Welspun Enterprises. The deal involves acquisition of entire stake of Welspun Maxsteel from Welspun Enterprises, including the equity shares held through its affiliates. In a recently released order, the Competition Commission of India (CCI) observed, among others, that sponge iron industry in India had the presence of large number of players and the market share of Welspun Maxsteel in production of sponge iron is "insignificant". It said that "JSW Steel has purchased a limited quantity of sponge iron from Welspun Maxsteel mostly for captive consumption." The fair trade regulator said that "However, the same constitutes an insignificant proportion of the overall purchase of sponge iron by JSW Steel in India."

Govt clears 2 major rail projects to address coal supply.

In order to improve coal supply, the government recently said it is focusing on 2-3 major rail projects that will resolve the connectivity problems. Besides, the Project Monitoring Group (PMG) so far has listed 467 projects for clearance on its portal from sectors like power, coal, steel and road which have investments to the tune of about Rs. 23 lakh crore, additional secretary and chairman of PMG, Anil Swarup said at a Ficci event. PMG, which was set up under the Cabinet secretariat last year, is mandated to facilitate in clearance and track large projects with investment of over Rs. 1,000 crore. Swarup said the government is focusing on large rail projects which can help solve connectivity problems related to the supply of coal.

DCI to get Rs. 302 cr. for Sethusamudram works.

Bright days are ahead for the Dredging Corporation of India (DCI) with the Ministry of Shipping deciding in-principle to pay off Rs. 302 crore towards the outstanding amount for dredging operations undertaken at the Sethusamudram Project. An expert committee has recommended the payment of the amount after approval by the Union Cabinet. Confirming the development, DCI Chairman-cum-Managing Director Capt. D.K. Mohanty told The Hindu recently that their financial health would improve substantially once they received the amount. During 2013-14, the DCI recorded a 21 per cent growth with the operational income increasing to Rs. 770.4 crore from Rs. 634.91 crore in the previous year. For this fiscal year, it has set a target of Rs. 850 crore for operational income. The DCI has been waiting for a long to get the dues for the dredging operations it carried out in the Palk Straits in 2006 under most difficult circumstances. It was part of the Sethusamudram Ship Channel Project executed by the Sethusamudram Corporation Limited (SCL), a special purpose vehicle. The SPV was set up to take up comprehensive dredging to facilitate a navigable channel through the Palk Straits between India and Sri Lanka. The project was envisaged to create a navigable route between the East Coast and West Coast of India to prevent ships bound for East Coast taking a circuitous route to Lankan islands to harbour at Chennai, Tuticorin, Visakhapatnam, Paradip and other ports. Union Shipping Minister Nitin Gadkari has already informed the Supreme Court and Parliament that the Centre would revive the project without demolishing the Ram Sethu. Sources said that the project work would start by changing the alignment. The DCI has invested Rs. 30 crore towards equity in the Sethusamudram Corporation Limited. The Shipping Corporation of India and the ports of Visakhapatnam, Chennai, Tuticorin, Paradip and Ennore are the other equity-holders.

Chinese firm keen on light metro.

Chinese companies have evinced interest in investing in rail infrastructure projects in India, including mass transportation projects in two cities in the State. The rolling stock manufacturer Changchun Railway Vehicle Co Ltd. (CNR), which had bid for the monorail project in Chennai, recently officially expressed its readiness to participate in the proposed light metro for Thiruvananthapuram and Kozhikode. A three-member team from the company was in Thiruvananthapuram to see the topography and visit the alignment fixed for the light metro. Officials of the infrastructure development firm IL&FS Transportation Networks, which is working out a partnership with the Chinese firm, met officials of Kerala Monorail Corporation Ltd. (KMCL), set up to execute the project, and informed them of its interest in participating in the project if it is in the PPP mode. An official of the KMCL told The Hindu that the officials were asked to give their preference in writing so that it could be communicated to the government. The visit assumes significance as the Delhi Metro Rail Corporation (DMRC), general consultant for the project, has submitted the detailed project report for the light metro in place of the scrapped MRTS. The team visited the road corridors developed under the City Road Improvement Project by the IL&FS. The elevated light metro has been proposed mainly through these corridors in the capital by the DMRC. ITNL International Private Ltd., a subsidiary of IL&FS Transportation Networks, has acquired 49 per cent equity in Chongqing Expressway Group that is constructing the YuHe Expressway.

MoU signed to develop Puducherry port.

The Puducherry government and Kamarajar Port Limited (KPL), Chennai, have entered into a memorandum of understanding (MoU) for developing the Puducherry Port. The Department of Port Director, S. Manoharan, and KPL Chairman-cum-Managing Director (CMD), M.A. Bhaskarachar, inked the MoU in Chennai recently. As per the MoU, the KPL will carry out a detailed project report for development of the Puducherry Port. KPL will prepare a detailed techno-economic (DTE) report that would look into aspects such as development of the port to handle various types of clean cargos including container cargoes, integration of tourism with maritime activities and the infrastructure requirements for undertaking them. A Port official in Puducherry said the development would be taken up in eco-friendly manner after submission of the detailed project report by the KPL. He added that more land is available when compared with other minor ports in Cuddalore and Nagapattinam.

NHIDCL to award first project for North-East in October.

The newly constituted National Highway Infrastructure Development Corporation Limited, which is mandated to develop 10,000 km of roads in the country with a special focus on North-East, will award the first highway project in Meghalaya this month. Prime Minister Narendra Modi has laid special emphasis on the development of the north-eastern region. His government plans to focus on constructing National Highways and good roads in the region. The government has also allocated Rs. 3,000 crore in the Union Budget 2014-15 for improving highways and state roads in the region. The focus of this company will be to develop roads and other infrastructure of highest standard in the country with focus on the north-eastern region and border areas, a Ministry official told PTI.

Aban Offshore signs Rs. 1,114 crore order with ONGC.

Offshore drilling firm Aban Offshore has said that it has received two firm orders worth $91.33 million (Rs. 557 crore) each for the deployment of jack-up rigs for a period of three years. The company today informed BSE that it has received Firm Order from ONGC for the deployment of jack-up rig Aban IV for a period of three years. The total value of this order is approximately $91.33 Million (around Rs. 557 crore). Contract is expected to commence during the first quarter of calendar year 2015. The state-run company also hired jack-up rig Aban III from Aban Offshore for a period of three years. The total value of this firm order is approximately $91.33 Million (around Rs 557 crore). Contract is expected to commence during the first quarter of calendar year 2015.

NMDC, NALCO to set up power plant in Madhya Pradesh: Tomar.

NMDC and NALCO will set up a thermal power plant in Madhya Pradesh at a cost of Rs. 22,000 crore once the issues following the cancellation of coal mines by the Supreme Court are resolved, Steel and Mines Minister Narendra Singh Tomar said recently. "Following the Supreme Court order on coal blocks there is uncertainty regarding coal block of NMDC.... Power and Coal Minister Piyush Goyal (who was also present) is saying a way will be found... Then NMDC will invest Rs. 3,000 crore and NALCO will invest Rs. 19,000 crore in the power plant," he said at the Global Investors Summit. Besides, state-owned steel major SAIL is studying the prospect of iron ore availability in Chhatarpur district in the state, he said, adding that if 50 million tonne iron ore is available, the company will set up a pellet plant with an investment of Rs. 1,500 crore. "There is possibility of much more availability of minerals. Once the reserves reach 140 million tonnes, SAIL will invest Rs. 12,000 crore to set up an integrated steel plant in Madhya Pradesh," Tomar added. Other investments in the mineral sector in the state include a Rs. 6,000 crore aluminium refinery by NALCO, Rs. 2,200 crore for underground mining by Hindustan Copper Ltd. and Rs. 1,000 crore by MOIL.

BHEL bags Rs. 7,800 crore order from TANGEDCO.

Bharat Heavy Electricals Ltd. (BHEL) has bagged orders worth Rs. 7,800 crore from Tamil Nadu Generation and Distribution Corporation Ltd. (TANGEDCO). The order is for Engineering, Procurement and Construction (EPC) for a 1320 mega watt (MW) plant near Chennai. The company said that the order is to set up a 2X660 MW coal-fired supercritical thermal power project at Ennore SEZ. The contract was won by BHEL against International Competitive Bidding. The company partnered with Power Finance Corporation (PFC) another PSU by syndicating the financing package in the current competitive environment, said BHEL. The plant will be constructed on a reclaimed ash pond, calling for specalised civil design, utilising on otherwise barren land. The scope of work in the project include design, engineering, manufacture, supply, construction, erection, testing and commission g for the EPC package comprising 2X660 MW supercritical sets. The key equipment for the contract will be manufactured at BHEL's Tiruchy, Ranipet, Haridwar, Bhopal, Hyderabad, Bangalore and Jhansi plants, with the company's power sector - southern region will be responsible for civil works and erection/ commissioning of the equipment. With this project, BHEL has now won orders for supply and installation of 35 supercritical boilers and 30 turbines of 660/700/800 MW ratings. The company has commissioned more than 380 coal based sets aggregating to more than 95,000 MW in the country. The company has a manufacturing capacity to 20,000 mega watt per annum.

Reliance Industries to invest $16 bn in petchem expansion.

Reliance Industries will invest about U.S. $16 billion in expanding petrochemical production capacity and lower feed and fuel costs to boost profits. RIL, according to a report by Barclays Equity Research, is investing U.S. $ 4.6 billion in an integrated gasification combined cycle (IGCC) project that will convert captive petrocoke to synthetic gas (syngas) which can be used to generate power, steam and hydrogen, which currently are being produced using expensive imported LNG. Refinery off-gas from this unit will be used to extract petrochemical compounds like ethane, ethylene, propylene, butanes and propanes at a US $ 4.5 billion Refinery off-gas cracker (ROGC). Another U.S. $ 5 billion is being spend on expanding polyester production capacity. The firm will spend another U.S. $ 1.5 billion to import ethane from US to replace higher cost propane imports and naphtha, it said. The projects will be completed by FY18.

First unit of Hinduja Powers Vizag plant to go on stream by December.

Hinduja National Power Corporation Limited is set to commission its first 520 MW unit of the 1,040 MW thermal power project located at Palavalasa, near Visakhapatnam in Andhra Pradesh by December. Thereafter, the second unit of 520 MW will be ready to go on stream by January-February 2015, according to a Hinduja Group official. The company may consider further expansion of the project. The project had to surmount several hurdles, including securing land from the State Government. Power generate from the unit is expected to bring much relief to Andhra Pradesh and Telangana, the latter in particular, as it is facing severe power crunch. However, the sharing is yet to be finalised. This thermal power project promoted by the diversified Hinduja Group was one of the eight fast-track projects awarded by the Government in early 1990s after the reform measures were initiated by the PV Narasimha Rao Government. But regulatory hurdles hampered the projects progress. The company revived the project in 2009-10 and secured fresh permission for implementation and is now making arrangements to supply to the grid. A top power sector official tracking the projects progress told BusinessLine that while its imminent commissioning is pleasant news, certain power supply issues still need to be sorted out. The company has a long-term coal supply arrangement with Mahanadi Coalfields Ltd. Hinduja Power had signed a memorandum of understanding with the State in 1992. With the project securing a fresh nod, the State discoms signed a Continuation Agreement in 2013 (before the State was split) for renewal of the power purchase agreement. The power generated was to be supplied to AP discoms. However, post the division of the State, the power may have to be shared.

ArcelorMittal, Gerdau sell US steel mill for $770 mn.

The world's biggest steel producer ArcelorMittal along with Brazil's Gerdau has completed sale of their 50 per cent stakes in US-based Gallatin to Nucor Corp for USD 770 million as part of its strategy to divest non-core assets. "ArcelorMittal and Gerdau... have completed the sale of their respective 50 per cent interests in Gallatin Steel Company ("Gallatin") to Nucor Corporation. The sale was completed for a total cash consideration of USD 770 million," the steel giant said in a statement. Gallatin Steel is a joint venture between ArcelorMittal and Gerdau. Gallatin is a flat rolled mini-mill located in Gallatin County, Kentucky, USA that melts scrap, pig iron and hot briquetted iron from various sources, and processes the material to produce flat rolled steel. It produces a wide range of steels from low to high carbon grades with an annual capacity of around 1.8 million tonnes. "The sale of Gallatin unlocks substantial value for ArcelorMittal's shareholders and is consistent with ArcelorMittal�s stated strategy of selective divestment of non-core assets," Aditya Mittal, CFO of ArcelorMittal, had said earlier.

Anil Ambani: Reliance Group to invest Rs. 60,000 cr in MP.

Reliance Group will invest Rs. 60,000 crore in the power, coal, cement and telecom businesses in Madhya Pradesh by 2020, its Chairman Anil Ambani said. Speaking at the State Government's mega investor conference here, he said Reliance Group has, over the past five years, invested in the four key areas of coal, power, cement and telecom. "The Group's total investment exceeds Rs. 30,000 crore in these four key areas in the State, making the Reliance Group by far the largest investor in the State," he said. On the Prime Minister's call for 'Make in India', he said, "We are not only going to �Make in India� but �Make in Madhya Pradesh". "We are committing ourselves to double our investment in the State from the current Rs. 30,000 crore to Rs. 60,000 crore by 2020 in our four key growth areas i.e. coal, power, cement and telecom". "We commit ourselves to partner Madhya Pradesh to become a leading industrial State," he said. "Our current operations employ over 25,000 people in the State". "We have an extensive social responsibility programme for the people of Madhya Pradesh, covering education, health, animal husbandry and many such other initiatives". "Over the past 10 years, Madhya Pradesh has transformed and progressed to new heights under the dynamic leadership of Chief Minister Shivraj Singh Chouhan," Ambani said.

Gujarat may get India's first offshore wind power project.

The country's first ever offshore wind power project is set to come up in Gujarat. While on one hand, the Central government is roping in public sector undertakings, on the other hand, Suzlon is conducting a techno-commercial feasibility study for offshore wind power project in Gujarat. The Ministry of New and Renewable Energy (MNRE) has recently signed a memorandum of understanding (MoU) with a group of public sector undertakings and others to setup a joint venture company for an offshore wind power project in Gujarat. The consortium for the 100 Mw wind power plant project comprises of National Institute of Wind Energy (NIWE), and consortium of partners consisting of National Thermal Power Corporation (NTPC), Power Grid Corporation of India Ltd (PGCIL), Indian Renewable Energy Development Agency (IREDA), Power Finance Corporation (PFC), Power Trading Corporation (PTC) and Gujarat Power Corporation Ltd (GPCL).

Govt looking at developing multi-modal transport hubs at 18 major airports.

The Centre plans to build multi-modal transport hubs across major airports. Multi-modal transport hubs are where many systems such as airport, Metro, bus and rail merge together. The government is mulling ways to make these hubs at six airports at Delhi, Mumbai, Chennai, Kolkata, Bangalore and Hyderabad. In the second phase, 12 more will be taken up. "The old terminal at the Delhi airport is not linked to the metro. We are looking at ways to develop the hubs at all major airports, accounting for 80-85 per cent of air traffic in the country, to provide seamless connectivity," said an official with the civil aviation ministry. The Frankfurt airport is linked to the mass rapid transit system, rail, buses and cabs. Prime Minister Narendra Modi in his meetings with ministries has stressed the need to develop infrastructure facilities to propel economic growth. "We are reaching out to states to implement this strategy of developing multi-modal transport hubs. The monthly review meetings will also give boost to such a programme as it provides a common platform for discussion", the official said. Modi has been holding monthly meetings with secretaries of railways, road transport and highways, civil aviation, power, coal, renewable energy, ports and shipping, telecommunications, and petroleum and natural gas ministries. These are to review the country's infrastructure targets and achievements. The Cabinet secretary has been mandated to ease hurdles in infrastructure development.

Odisha seeks JUSCO's expertise to develop Kalingagar hub.

The state government has sought the expertise of Tata Group firm Jamshedpur Utility & Services Company (JUSCO) to strengthen the operations of Jajpur Cluster Development Ltd. (JCDL). JCDL is a joint venture between Kalinganagar Industries Association (KIA), an association of industries operating in the Kalinganagar industrial complex and the state�s nodal agency for land acquisition and industrial infrastructure development, Odisha Industrial Infrastructure Development Corporation Ltd (Idco). While KIA holds 51 per cent equity in JCDL, the balance 49 per cent stake is of Idco. With Kalinganagar touted as the steel hub likely to witness enhanced industrial activity in the near future, it is imperative for JUSCO to play a major role in the overall development and management of the industrial area.

Chinese consortium to set up e-vehicle hub in Sanand.

A clutch of Chinese automobile companies might soon make Gujarat's Sanand an electric vehicle (EV) manufacturing hub. Weeks after Chinese President Xi Jinping's visit to India, which began from Gujarat, seven firms from that country have formed a consortium (and registered it) to set up a 200-acre EV park in the motown near Ahmedabad, at an estimated investment of $100 million. During Xi's visit, China had committed itself to investing $20 billion in the country over five years. Jagat Shah, chief executive officer of Ahmedabad-based international trade consulting firm Global Network, who is working closely with the Chinese companies, confirmed: "Seven firms have come together and formed a consortium, China Electric Vehicle Consortium Pvt. Ltd. It has been registered under the Companies Act. This consortium will buy land for setting up the EV park."

DCM Shriram to expand chlor alkali capacity at Bharuch.

DCM Shriram Ltd, a diversified group of companies active in chemicals, textiles, alcohol and sugar, has decided to invest Rs. 534 crores to expand chlor alkali capacity and captive power plant at its Bharuch manufacturing site in Gujarat. DCM Shriram has informed BSE that the Board of Directors of the company at its special meeting held on October 04, 2014, have approved expansion plans at company's unit at Shriram Alkali & Chemicals, Bharuch at an estimated cost of Rs. 534 crore. While DCM Shriram will increase chlor alkali capacity form 450 tonnes per day (TPD) to 915 TPD, it will expand captive power plant from 55 MW to 110 MW. Chlorine and caustic soda, the two main products of a chlor alkali plant, are basic building blocks for thousands of useful substances and products. One of the major usage of chlorine is in the manufacturing engineering materials � polymers, resins and elastomers. The largest single end use is PVC plastic for primarily the construction, automotive, electronics and electrical industries. Caustic soda, also known as sodium hydroxide, is used in various industries (eg metallurgy, aluminium, glass, soap, detergents and textiles).

Asian Paints' Indonesian facility receives government's nod.

Asian Paints has received a green signal from Badan Koordinasi Penanaman Modal (BKPM), the investment coordinating board of Indonesia, for setting a paint manufacturing plant at Jakarta. The move is likely to give a boost to Asian Paints' international business, which currently accounts for 13 per cent of the company's consolidated revenues. On August 22, 2014, Berger International Limited (BIL), the Singapore-based subsidiary of Asian Paints (International) Limited (APIL), had filed an application for investment approval with the regulatory authorities at Jakarta, Indonesia for setting up a paint manufacturing facility as part of a greenfield foray into Indonesia. Asian Paints Ltd. on October 1, 2014, informed BSE that BKPM has approved its investment application and has issued a principal license for setting up manufacturing facility. "Further steps to be taken for setting up the greenfield operations in Indonesia will be subject to necessary regulatory and other approvals," it said in a BSE filling. According to experts, Asian Paints is expected to focus on the mass market in Indonesia and initially launch its Berger brand in the market.

Suzlon to build 2,000 MW wind projects over next 5 years in MP.

Wind power gear maker Suzlon plans to execute 2,000 MW wind energy projects over next five years in Madhya Pradesh as it looks at setting up manufacturing base in the state. "Suzlon Group intends to build 2,000 MW of new wind energy projects in Madhya Pradesh over the next five years and establish supporting manufacturing facilities," the company said in a statement. However, the company did not disclose the investment plans for executing this capacity. Suzlon Group has installed more than 50% of total wind capacity in MP. The company made this announcement at the ongoing 'Global Investors Summit' at Indore in MP.

Kamaraj Port to develop SEZ or FTZ on a 650-acre land.

Kamaraj Port Ltd, formerly known as Ennore Port Ltd. and India's first corporate set up by the government, is planning to build a Special Economic Zone (SEZ) or Free Trade Zone (FTZ) on a 650-acre land. The Port has also signed an MoU with Puducherry government to set up a port in the Union territory. Speaking at the sidelines of a CII (Confederation of Indian Industry) conference on Approach to Integrated Maritime Systems at Chennai, M A Bhaskarachar, chairman and managing director, Kamarajar Port Ltd. said that the Port has acquired around 650 acres of land from the salt department, close the Port to develop an SEZ or FTZ. "Soon we will appoint a consultant to conduct the feasibility report. The Port is planning to promote the zone for manufacturing industries." Soon an SPV will be floated to promote the Port, which will have two or three berths to handle clean cargo, containers and cruise. While the government will bring in land, the Port will invest in developing the Port, said Bhaskarachar. The Kamaraj Port has also held talks with the Tamil Nadu Tourism Development Corporation to start a cruise service from Ennore, about 45 kms from Chennai, to Kanyakumari via tourist destinations of Mahabalipuram, Puducherry and Rameswaram. "Soon the tenders will be opened for an operator," he said. On the ongoing projects at Kamaraj Port, Bhaskarachar said in the next three years the Port will add 3-5 berths, including one for container terminal (at a cost of over Rs. 1,200 crore), one for multi-cargo berth and one for coal. While these projects will be developed by private players, the Port would invest around Rs. 220 crore during the current year in dredging of berths and to create other infrastructure like railway yard. Speaking about the growth of the Port, he said, the 12-year old port grew about 50% last year and till this fiscal the growth has been around 15%.

Chinese firm Forstar to set up manufacturing unit in Chhattisgarh.

Chinese company Forstar Industry Limited (FIL) will set up a manufacturing plant for computer systems and other mobile devices in the state capital of Chhattisgarh. The proposed plant will come up near Urkura, an industrial area at the outskirts of the state capital developed by the Chhattisgarh State Industrial Development Corporation. The Chinese company inked an agreement with state-run Chhattisgarh Infotech and Biotech Promotion Society (CHIPS) to execute the project. According to company officials, FIL was formed in 2000 and had been an innovative PC company qualified to design, manufacture, market, sell and support a range of computer systems and services. The company had been manufacturing partners for Lenova, Acer, Hasee, Multilaser etc, they added. "The proposed plant in Chhattisgarh will be first of its kind in electronic IT manufacturing and assembling sector with state of the art facilities," the company officials said. It would be set up in consortium with M/s Novatium, a Chennai-based Indian Software and cloud solution provider. The facility will manufacture tablet, PC, notebooks, netbooks and mobile devises, the official said. The produce from Chhattisgarh will be exported to global market ranging from Eastern Europe, Middle East, Africa and South Asia. The Chhattisgarh government officials said the company will invest Rs. 100 crore initially; growing to Rs. 1000 crore on full scale-up within next 5 years. The planned capacity of the plant will be stretching from 75,000 units per month to 1 million units per year. The company will take up skill development programme for the local youths to facilitate for them to find a job in the IT plant. In a year's time, the plant will employ around 200 persons. At full scale, direct and ancillary units employment would be more than 1000 persons, the officials said.

MP Investors Summit eyes Rs. 2.25 lakh crore investments.

Madhya Pradesh is all set to woo investors at a three-day global summit. A total of Rs. 2.25 lakh crore worth of investment interest had been expressed. This is the 4th edition of Madhya Pradesh summit. It will be inaugurated by Prime Minister Narendra Modi in Indore. Corporate honchos like Mukesh Ambani, Anil Ambani, Adi Godrej and Kumar Mangalam Birla will also be present during the inauguration. Madhya Pradesh has emerged as the fastest growing Indian state and this fact is being leverage by its chief minister Shivraj Singh Chouhan to attract investors. Also, the state is a part of Mumbai-Delhi industrial corridor (MDIC) and has huge land bank.

BHEL bags Rs. 7,800 crore contract for power project.

State-run Bharat Heavy Electricals Limited recently bagged a Rs. 7,800 crore contract for setting up a 1,320 MW thermal power project in Tamil Nadu. Valued at around Rs. 7,800 crore, it is an EPC contract (Engineering, Procurement and Construction) from Tamil Nadu Generation and Distribution Corporation Ltd (TANGEDCO), Bhel said in a statement. The order is for setting up a 2x660 MW coal-fired thermal power project at Ennore Special Economic Zone in Tamil Nadu. The power plant will be constructed on a reclaimed ash pond, calling for specialised civil design, utilising an otherwise barren land. Bhel's scope of work in the project includes design, engineering, manufacture, supply, construction, erection, testing and commissioning for the EPC Package . The equipment for the contract will be manufactured at Bhel's Trichy, Haridwar, Bhopal, Ranipet, Hyderabad, Bangalore and Jhansi plants, while the company's Power Sector - Southern Region will be responsible for civil works and erection or commissioning of the equipment.

Yamaha's Chennai plant to start operations by January.

Japanese two-wheeler maker Yamaha's new plant, on the outskirts of Chennai, will start operations by January, according to Masaki Asano, Managing Director, Yamaha Motor India Sales Pvt. Ltd. This is the marketing and sales arm of Yamaha in India, while vehicle production is part of India Yamaha Motor. The company will invest Rs.1,500 crore in phases till 2018 in the plant at Vallam Vadagal in Kanchipuram district. "We have not yet decided the date of the inauguration. It depends upon the availability of various dignitaries," Asano told reporters on the sidelines of a function. To begin with, Yamaha will produce scooters at the plant, which will have an initial annual capacity of four lakh units. The capacity will increase to 18 lakh units by 2018. While signing a memorandum of understanding with the State Government in 2012, Yamaha had said the new factory will employ 1,800 people at the start of operations and in five years around 6,500. The new factory will be the first in the Yamaha Motor group to have a vendor park in its vicinity. This will reduce losses in the areas of production management and distribution. There will be very little import of components, said Roy Kurian, Vice-President, Sales and Marketing, Yamaha Motor India Sales. In 2012, Yamaha had said that with the new factory and the increased production capacity at the company�s plants in Surajpur (Uttar Pradesh) and Faridabad (Haryana), Yamaha will have a combined motorcycle production capacity of 2.8 million units by 2018.

APM Terminals India wins Best Inland Service Provider Award for third consecutive year.

APM Terminals India Pvt. Ltd. was named "Best Inland Service Provider" for the third time in three years at the recently concluded 8th Annual Express, Logistics and Supply Chain (ELSC) Conclave, 2014 held in India's maritime and commercial capital of Mumbai. The award was presented among the categories of ELSC Service Excellence on September 25th. "This award once again fully justifies the faith that our customers have put in us over the past three years, and is also a reaffirmation of our dedication to the container logistics market in the sub-continent" said APM Terminals India Managing Director and CFO, Mr. R K Sreedhar, who received the award on behalf of the company. APM Terminals India Pvt. Ltd. is a part of the APM Terminals- a global Port, Terminals and Inland Services operator comprising of 61 ocean ports and terminals in 33 countries, along with 132 inland services locations in 48 countries; and staffed by 22,000 employees in 64 countries across 5 continents.

Suzlon to build 2000MW wind energy projects over next five years.

Suzlon Energy Ltd has informed BSE regarding a Press Release dated October 09, 2014 titled "Suzlon to Build 2000MW Wind Energy Projects over Next Five Years; expresses intent to set up Manufacturing Facilities in Madhya Pradesh". Suzlon Group is intent to build 2000 MW of new wind energy projects in the state of Madhya Pradesh over the next five years and establish supporting manufacturing facilities.

State govt. to give Rs. 500 crore for facelift to roads.

Stretches of State highways which have withered due to the impact of the rains are set to get a facelift as the State government has sanctioned Rs. 500 crore for repairing important stretches of roads. Disclosing this to reporters in Bangalore recently, Public Works Minister H.C. Mahadevappa said the funds would be used for filling pot-holes and repairing damaged stretches on State highways and major district roads (MDRs). Repair work would start soon after the rains relent, he noted. The funds have been released for handling any damages till March 2015, he said.

UltraTech eyes Jaypee's three cement plants in Madhya Pradesh.

Aditya Birla group firm Ultratech Cement is believed to be looking at possible acquisition of Jaypee Group's three cement plants in Madhya Pradesh in a deal that could be worth about Rs. 5,500-6,000 crore. While investment banking sources involved in the talks said that the discussions are currently under way for a possible deal, a spokesperson for UltraTech declined to comment on queries in this regard. When contacted, Jaypee Group spokesperson Askari Zaidi denied any plans for sale of these plants. "This information is not correct. The company has no plan to sell its Reva cement plants," he said. Sources, however, maintained that UltraTech is looking to acquire the three cement plants of Jaypee Group in Reva, Madhya Pradesh and pegged the valuation at around Rs. 5,500- 6,000 crore. They added that the discussions are currently focussed mainly on valuation part.

NBCC gains on Rs. 338 crore constructions order from IIT Kanpur.

Shares of National Buildings Construction Corporation (NBCC) were trading higher by nearly 2% at Rs. 648 in early morning deals on National Stock Exchange (NSE) after the company said it has received constructions order worth of Rs. 338 crore from IIT Kanpur. "IIT Kanpur has awarded to NBCC, project management consultancy work for major construction works such as engineering core lab, research complex (phase-I) and retrofitting of Aerospace Engineering block multistoried building for Rs. 337.97 crore," NBCC said in a regulatory filing. The stock opened at Rs. 640 and touched high of Rs. 650 on NSE. A combined around 93,000 shares changed hands on the counter in first 10 minutes of trade on NSE and BSE.

KEC International gains on new orders worth Rs. 1,029 cr.

KEC International has gained around 2% on BSE after getting new orders. KEC International Ltd. (KEC), a global infrastructure engineering, procurement and construction (EPC) company has secured orders of Rs. 1,029 crores. In its Tansmission & Distribution business, the comapny has secured orders worth Rs. 746 crores in India, Zambia, US, Brazil and Mexico. The rest of the orders are in cables and renewables businesses. On BSE, KEC shares are trading with a gain of 1.6% at Rs. 103.40. The shares opened at Rs. 102.8 and hit a high of Rs. 107. On BSE and NSE combined around 170,000 shares have changed hands so far.

Mukesh Ambani's Reliance Aerospace and Punj Lloyd bag defence deals

A small change in foreign investment rules-by doing away with minimum 51% holding by a single Indian entity in a defence venture-has helped Mukesh Ambani's Reliance Aerospace and Punj Lloyd bag licences that they had been waiting for. While increasing the foreign direct investment (FDI) cap for defence to 49%, the government did away with the clause that had been in the policy for years, as part of a strategy to attract investment in local manufacturing units. In special cases, 100% FDI has been allowed. The earlier rule did not allow Reliance Aerospace to get the licences to manufacture weapon launchers for combat aircraft as the promoters hold 45.3% in Reliance Industries. Similarly,the promoters of Punj Lloyd together have a 37% stake, which restricted a wholly owned subsidiary's ability to bag licences to manufacture torpedoes, rocket launchers and combat vehicle, sources familiar with the development told TOI.

REIL proposes solar panel manufacturing unit in Andhra Pradesh.

Rajasthan Electronics and Instruments Ltd. (REIL), a public sector undertaking, has agreed in principle to set up a solar panel manufacturing unit in Andhra Pradesh. Disclosing this, Andhra Pradesh Energy Secretary Ajay Jain said that a high-level delegation, consisting of REIL Chairman Veenu Gupta and Managing Director A K Jain, is expected to meet Chief Minister N Chandrababu Naidu soon to discuss modalities of setting up the plant. During a tele-conference with Naidu, Jain who recently visited Rajasthan to study solar projects including solar agriculture pumps, said that the proposed unit would also help the state generate additional employment. Meanwhile, Naidu, who recently launched a LED lighting programme in Vijayawada, is slated to inaugurate tomorrow distribution of LED lamps at Vinukonda and Nagaram in Guntur district.

M3M India awards Rs. 133 crore contract to German kitchen appliance maker Miele.

Realty firm M3M India recently said it has placed a contract worth Rs. 133-crore with Germany-based Miele for supply of kitchen appliances for its luxury housing project in Gurgaon. The company is developing about 3,000 apartments in a golf centric housing project, spread over 75 acres at Gurgaon in various phases with an investment of about Rs. 4,500 crore. The project was launched in 2010 and delivery of the first phase comprising 600 flats is scheduled for the next year.

Trident Ltd. to invest Rs. 2,400 crore in Madhya Pradesh textile project.

Textiles major Trident Ltd. recently said it will invest Rs. 2,400 crore in its project in Madhya Pradesh, which is under different stages of implementation. "The company shall make a total investment of Rs. 2,400 crore for its composite textile project in Budni, Madhya Pradesh and shall engage about 25,000 families across all its business verticals," Trident said in a filing to the BSE. The Ludhiana-based company, which inaugurated a terry towel plant, also laid the foundation stone of the second phase of its composite textile project comprising of two spinning units, a bed linen unit and a captive power plant.

BASF commissions Rs. 1000-cr Dahej plant.

BASF India Ltd., the Indian arm of German chemicals major, BASF SE recently commissioned its greenfield facility in Dahej. Set up with an investment of Rs. 1000 crore, the plant is the single largest investment of the company in India. The facility, spread across an area of 23 hectares, houses an integrated hub for polyurethane manufacturing and production facility for care chemicals and polymer dispersions. While, the care chemicals facility is the first sulfation plant of BASF in India, the polymer dispersion plant will help boost company's dispersions business. With the commissioning of new plant at Dahej, the company has increased focus on making chemicals for downstream industries. "Our focus remains more on downstream industries. Going forward in coming years we expect 70 per cent of our business come from downstream," said Michael Heinz, member of the board of directors, BASF SE.Heinz further added that company's India operations contribute less than 2 per cent to the global sales of about Euro 74 billion (2013).The company has planned additional Euro 10 billion investment in Asia Pacific between 2013 and 2020. Gujarat Chief Minister Anandiben Patel inaugurated the plant amid presence of local leaders and company's senior officials.

ADB to assist AP on industrial zones in Vizag-Chennai corridor.

In a major boost to Andhra Pradesh's industrial development, Asian Development Bank (ADB) has said that it will help set up industrial zones in the State as a part of the Visakhaptnam-Chennai Industrial Corridor. At a meeting with the State Chief Minister N. Chandrababu Naidu at Secretariat Office recently, ADB's country director Hun Kim said they would help the State government establish industrial zones with an outlay of $2.5 billion (about Rs. 15,000 crore). The project includes developing five industrial zones as part of the Visakhapatnam-Chennai Industrial Corridor. These zones would come up in Visakhapatnam, Kakinada, Machilipatnam, Anantapur and Erpedu-Srikalahasti. ADB has assured that a special officer would be appointed to monitor the project's progress. Kim has assured the Chief Minister that they would help the State Government attract investors from China, Japan, South Korea and European countries. According to a statement from the Chief Minister's Office, as part of this partnership, ADB would also enable companies and investors from these countries to support the Government in industrial development.

Australia announces 13 innovative projects with India.

Australia recently announced 13 innovative projects with India that will support new cutting-edge collaborative research partnerships between universities, professional bodies and private sector organisations of the two countries. The latest initiatives will be supported through Australia-India Council (AIC) grants programme, said Australian Foreign Minister Julie Bishop. "AIC�s grants, totalling over A$ 565,000, will support new partnerships between Australian and Indian universities, professional bodies, private sector organisations and arts communities in areas of strong mutual interest and where the bilateral relationship has the greatest capacity to grow," Bishop said. "This year's programme will fund cutting-edge collaborative research in the mapping of salt affected land and water resources; the sharing of Australia's experience in implementing food standards, managing major sporting events and planning for sustainable urban transport links; and a new teacher education exchange program," she said. The grants were extended to Opera Australia for "Shane Warne The Musical� tour of India project, Sharing Stories Foundation for installation in India of "Song for Country" - a multimedia exhibition celebrating Aboriginal and Torres Strait Island culture. Other projects which would be supported by AIC are Australia India Institute�s Australia India Public Sector Reform Seminar, Griffith University's collaborative study on Food Safety and Standards in India with Indian Agricultural Research Institute to help improve food value chains in India. University of Sydney�s national workshop of extending the value of data on novel analysis for soil and water resources would be launched in collaboration with Indian Institute of Technology - Kharagpur. In the area of art and culture, AIC will support AusHeritage in revitalising Dr Babasaheb Ambedkar museum with Australian conservation expertise.

KEPL Backs off from Thermal Power Project in State, Nine Others in Limbo.

Even as Kalinga Energy and Power Limited (KEPL) has informed the State Government to withdraw from the 1,320-MW thermal power project in Jharsuguda district, nine MoUs signed for independent power projects (IPPs) are in limbo. A Shyam Group of company, KEPL, backed off from the Odisha project citing delay in acquisition of land by the State Government. One of the six companies to sign MoU with the State Government on February 7, 2009, KEPL had proposed to set up a 1,000-mw coal fired power plant at Babuchakuli in Sambalpur district with an investment of Rs.4261.27 crore. In 2011, the company revised the configuration of the project from 1,000 mw to 1,320 mw comprising two units of 660-mw each with an investment of Rs. 6,500 crore. It requested the State Government to relocate the site to Sodamal near Kolabira in Jharsuguda district.

India Power to invest in Bihar.

India Power Corporation Ltd. (IPCL) will invest Rs. 33 crore towards beefing up infrastructure of power distribution in Gaya and Bodh Gaya. According to Hemant Kanoria, Chairman, the company has submitted an investment plan of "minimum Rs. 33 crore" to the Bihar Electricity Regulatory Commission (BERC). "We are awaiting a formal approval before we implement the capital expenditure program," he was quoted as per a release issued by the company. The focus, Kanoria maintained, is on industrial requirement for which distribution capacity is being scaled up.

L&T bags road contract worth Rs. 1630 cr in UP.

The transportation infrastructure business of L&T Construction has bagged an EPC (engineering, procurement and construction) contract worth Rs. 1,630 crore from the Uttar Pradesh Expressways Industrial Development Authority. The order is for construction of a six-lane expressway of 63 km from the village Neval in Unnao district to Lucknow. The project is scheduled for completion in 36 months.

GMR's Chhattisgarh power plant unit goes on stream.

GMR Chhattisgarh Energy Limited has synchronised first unit of 685 MW of the 1370 MW project on October 2. The thermal power project located at Raikheda in Raipur district is based on supercritical technology implemented by Doosan of Korea. Work on the second unit is under way. GCEL is GMR Group's first supercritical coal-based thermal power plant. The project has been implemented on multiple packages concept by Doosan of Korea. The GMR group signed a MoU with the Chhattisgarh Government for the plant in 2008. Besides Chhattisgarh, GCEL will also cater to other states, GMR said in an exchange filing.

MP govt to open IT park and EMC complexes at Bhopal, Jabalpur.

The Madhya Pradesh government will be setting up IT Park and Electronic Manufacturing Clusters (EMC) at Bhopal and Jabalpur in a move aimed at generating direct and indirect employment for almost 60,000 people. Union Minister for IT and Communication Ravi Shankar Prasad will lay the foundation stone for the project on October 6, an official release said recently. Chief Minister Shivraj Singh Chouhan and Science and Technology minister Bhupendra Singh will also attend the function. While the IT Park and EMC in Bhopal will come up at Badwai on 212 acres of land, the complex in Jabalpur district will be set up on 62 acres of land at Purva village, the release added. The Bhopal complex is expected to attract Rs. 170 crore in investment and generate direct and indirect employment for 50,000 people while Rs. 95 crore is expected to be spent on setting up the Jabalpur project, which is expected to provide direct and indirect employment to 10,000 people.

GHB's jewellery park begins ops with 3 units at Ichhapore.

Gujarat Hira Bourse (GHB) is urging diamond jewellery manufacturers from Surat and Mumbai to set up units at its gems and jewellery park at Ichhapore, which began functioning last month. This gems and jewellery park has become functional when some diamond barons in the city are still working on the designs for Surat Diamond Bourse (SDB) project to come up at Dream City on a 2,000-acre land at Khajod, allotted by the state government recently. GHB office-bearers said three units were operationalized in September and that 20 jewellery manuafacturers had approached them with request to allot them plots at the park at the earliest. GHB and some leading diamantaires of Surat had urged the state government in 2004 to allot them land at Ichhapore for a gems and jewellery park. The then chief minister Narendra Modi had allotted 1 million square metre land at Ichhapore for the project.

Trident to invest another Rs. 2,400 cr in MP facility.

Trident Limited, the flagship Company of Ludhiana-based Trident Group, a leading manufacturer of terry towels, paper, yarn and chemicals with a strong presence in Madhya Pradesh and Punjab will invest another Rs. 2,400 crore in its existing MP facility in Budni. The company has claimed it would start commercial production from its Budni plant to become world's largest terry towel manufacturer. "This new plant would make Trident the largest terry towel making company in the world," a senior company official told Business Standard. Chief Minister Shivraj Singh Chouhan and Industry Minister Yashodhara Raje Scindia will inaugurate the plant and would also lay foundation stone of the proposed composite textile project comprising spinning units of 185,000 yarn spindles, bed linen unit of 500 looms, captive power plant of 60 MW. "This would be world's largest terry towel plant and will comprise 300 looms. It would add about Rs. 1,800 crore to the company's annual turnover. With this expansion, the installed capacity of Trident will increase to 688 looms capable of producing 90,000 tonnes per annum (TPA) of terry towels thereby making Trident the largest manufacturer of terry towels in the world," said the official.

Cipla signs agreement to set up a manufacturing unit in Iran.

Drug major Cipla has signed an agreement with its Iranian distributor for setting up a manufacturing unit in that country. "The company has signed a definitive agreement with its existing Iranian distributor for setting up a manufacturing facility in Iran," Cipla said in a filing to BSE. Total contribution from the Indian company over the next 3 years will include machinery, equipment, technical know-how and is expected to be around Rs. 225 crore for a 75 per cent stake, it added. The proposed investment is subject to completion of certain conditions and applicable regulatory approvals, Cipla said. Established in 1935, Cipla currently has over 2,000 products with presence in more then 170 countries.

SCI, GAIL in talks for $3 bn LNG ships deal.

Shipping Corporation of India and GAIL (India) Limited are currently in discussion to forge a tie-up under which the latter will acquire nine LNG ships with almost $3 billion and the former will run them, a senior official of the SCI said. SCI Director (liner and passenger services) Sarveen Narula said the shipper will have an option to pick up stake up to 25 per cent once a joint venture company is formed for the purpose and talks are held through respective ministries. �We are trying to buy nine LNG ships, not through SCI but through GAIL. SCI will run those ships in partnership with GAIL. We are actively working with GAIL in selection of (other) partners. We may have the right to take up to 25 per cent of the stake in that (venture). "The Memorandum of Understanding is being finalised. We are already been in talks with them. Very soon it will be done. It is brokered through the Government," Narula told PTI.

Karnataka invites bids for 500-MW round-the-clock power.

Karnataka is planning to buy 500 MW RTC (round-the-clock) power from producers to meet demand for the next eight months. The power is being bought on a short-term basis from generators, trading licensees, State utilities, captive power plants (CPPs) and co-generators within the southern region for power supply. "The State has resorted to inviting bids in an effort to conserve hydel power and simultaneously take up repair works on few units of Raichur Thermal Plant," a senior Karnataka energy department official said. He further added, "As for the tariff, we expect to get good rates during the bidding by interested parties as we are going in early in the season. We also have good payment mechanism and record,� he added. The Power Company of Karnataka Limited (PCKL), which has invited bids, is buying power on behalf of Government-owned distribution companies such as Bescom, Mescom, Hescom, Gescom and Cescom. The corporation has fixed the minimum bid capacity at delivery point at 5 MW and the bids are through e-procurement mode.

BHEL signs MoU with TS Genco as EPC for 6,000 MW.

Bharat Heavy Electricals Limited and Telangana State Power Generation Corporation (TS Genco) have entered into a memorandum of understanding to work together and establish thermal power generation capacity of about 6,000 MW in the new State. The memorandum was signed between the Chairman and Managing Director of TS Genco D. Prabhakar Rao, and Bharat Heavy Electricals Limited Chairman and Managing Director, B. Prasad Rao, on Saturday in the presence of State Chief Minister K. Chandrashekar Rao. BHEL will facilitate setting up of 6,000 mw of thermal power plant capacity as an EPC contractor. As one of the largest engineering and manufacturing enterprise in India and a top power plant equipment maker, BHEL�s range of services extend from project feasibility through design, manufacture, supply, erection and commissioning to after sales service. At present, TS Genco has an installed power generating capacity of about 4,364 MW both thermal and hydel. It has the technical capability and expertise in the area of installing, owning, operating and maintaining the power plants. BHEL has earlier executed thermal power projects in Telangana in Bhupalapally, Singareni Colleries and Kothagudem and their performance is above the national average of the plant load factor. According to a statement from the Chief Minister's Office, Chandrashekar Rao has reposed faith and confidence in the Maharatna undertaking BHEL and has nominated it as an EPC contractor. It has been asked to execute the projects within the next three years.

NHAI borrowings may shoot up to Rs. 35,000 cr next year.

The National Highways Authority of India (NHAI) will have to sharply increase its borrowing levels to about Rs. 30,000-35,000 crore next year, if it wants to award 3,500 km of roads through the engineering procurement contract (EPC) route in the current fiscal. NHAI has a target to award 5,000 km in the current fiscal, of which 3,500 km will be in EPC mode and 1,500 through public-private partnership (PPP) route. With the PPP projects seeing a muted response since last year, NHAI will have little option but to adopt EPC route where entire projects are funded by the Government.

Rajasthan becomes first state to start olive refinery.

Rajasthan recently started the country's first olive refinery and expressed hope that it would be able to fulfil the country�s demand of olive oil in coming years. Chief Minister Vasundhara Raje inaugurated the refinery set up with a cost of Rs. 3.75 crore in Lunkaransar area in the district and said it was an achievement for Rajasthan to become the first state in the country to set up such refinery. The olive oil produced in the refinery will be marked under the brand name of 'Raj Olive Oil' and will be available in markets after some time. "Rajasthan is leading in the area of Olive farming and the first state to set up the refinery. It is a big achievement," Raje said in the inaugural function. The Vasundhara Raje government in its earlier term in 2007 had commenced the olive cultivation project by taking assistance from Israel and had planted 1.12 lakh saplings in 7 agro-climatic zones.

General Motors to invest $14 b in China over five years.

US auto giant General Motors (GM) will invest a whopping US $14 billion in China over the next five years and open five new plants to increase sales to nearly five million vehicles in the world's largest car market, its top executive said. The company�s plans for China also includes introducing 60 new models or refreshed vehicles, including nine new models from GM�s flagship luxury brand Cadillac, GM CEO Mary Barra said. Tim Dunne, director of automotive industry analytics for California-based global market research firm JD Power and Associates, said that GM�s investment in China is "necessary" for the company going forward. "This is a substantial investment in China," Dunne was quoted as saying by state-run China Daily. "GM is still among the forefront in China in terms of annual vehicle sales volume, and when people look at GM [in China] everyone is expecting vehicle sales to grow there. Competitors in the market are not standing still, so everyone is kind of on an accelerated pace," Dunne said. GM was one of the first companies to establish an R&D (research and development) centre in China, so developing vehicles specifically for the China market has also given GM a bit of cachet with different entities in China, Dunne said. "GM and its competitors are investing in manufacturing, distribution, marketing and the R&D aspect, and China is a hyper-competitive market so you can�t let up because things can change very quickly," he said. GM's operations in China include two foreign enterprises, 10 joint-venture partnerships and more than 50,000 employees in the world�s second-largest economy. GM said recent data shows the company and its joint-venture partners sold a record-breaking 3.1 million vehicles in China last year. Barra said it is imperative for the company to be on the cutting edge of technological integration when it comes to their new models, so that GM can become the world�s "most valued automotive company". She also said some of the high-tech advances that GM plans to make � including the introduction of high-speed mobile broadband vehicle-to-vehicle connectivity in some models, and a highly automated, hands-free highway driving technology called Super Cruise � "unlock so many things that haven�t been done in the past". "Nobody goes anywhere without being connected, so GM talking about introducing more connectivity in their vehicles is where the car market is going and it's spot on," Dunne said.

Minda Ind, Panasonic join hands to set up lead acid battery unit.

Minda Industries and Panasonic will establish a joint venture company to manufacture lead acid storage batteries for automotive and industrial purposes. In an exchange filing, Minda said the investment would be about Rs. 160 crore, with Panasonic holding 60 per cent stake and Minda the balance. The plan is to produce two million units in 2018.

First set of girders for NTPC plant flagged off from Tiruchi.

The first set of girders for the 800 MW Design Rating Super Critical Boiler for National Thermal Power Corporation (NTPC)-Gadarwara STPP was flagged off from M/s Five Star Industries, Mathur, recently. A.V.Krishnan, Executive Director, Bharath Heavy Electricals Ltd. (BHEL) flagged off the girders. A.R.Syed Arif, Managing Partner, Five Star Industries, Raja Manohar, General Manager, Outsourcing, BHEL, and Mathivanan, General Manager, Quality Control, BHEL, were present. The girder sets were manufactured by subcontractors of BHEL, M/s Five Star Industries, a leading firm specialising in manufacturing such girders. Ceiling girders, as the name suggests, are placed on the top of columns of the boiler structure at a height of 105 metres. This is the first 800 MW design boiler component supplied by the BHEL to NTPC, a company release said.

Novelis opens aluminium recycling plant in Germany.

Novelis, a U.S.-based manufacturer of rolled aluminium products, said it had opened a $258 million recycling plant in Germany to process aluminium scrap obtained throughout Europe. The plant, in Nachterstedt in East Germany, will produce 400,000 tonnes of aluminium annually using scrap including drinks cans, cables, wires and industrial waste, Novelis President and Chief Executive Phil Martens told Reuters on Wednesday. Good availability of scrap in Europe is a major reason for locating the plant in Germany, he said. Full production should be reached in January 2015. "We will be sourcing scrap from just about everywhere in Europe," he said, including Germany, Scandinavia, Spain, France, Italy and Eastern Europe. About 300,000 tonnes of the metal produced will go to the giant Alunorf rolling mill in Germany, which produces about 1.5 million tonnes of rolled aluminium annually and is jointly owned by Novelis and Norwegian group Norsk Hydro. A further 100,000 tonnes will go to a Novelis plant in Switzerland. The output will replace imports of aluminium metal and purchases from traders and other third parties after closures of European aluminium smelters have made the metal increasingly difficult to source, Martens said. He said the Nachterstedt plant would contribute Novelis' strategy of increasing the percentage of recycled aluminium used in making its products to 50 per cent of output by the middle of the decade and 80 per cent by 2020, from the current level of about 46 per cent. He described European aluminium demand as "stable" but said the outlook would depend on whether the German economy continues to grow. Novelis is a unit of India's Hindalco Industries.