MUMBAI, MARCH 26:
Lavasa Corporation has announced the launch of Mugaon, the second township to be built at Lavasa.
Mr Rajgopal Nogja, Group President, HCC, said, “Dasve and Mugaon, the first two towns are part of the planned Phase 1 development which has been cleared by the Ministry of Environment & Forests. Dasve, the first town is completely sold out and, for Mugaon, we have a long waiting list.”
Lavasa Corporation has resumed construction after the environment clearance was given by the Ministry. Mr Nogja presented the keys of an apartment to the 100th citizen of Lavasa.
The Mugaon development, across 2,400-acre, will comprise residential, education, business and commercial spaces.
Over 2,000 apartments, ranging from 550 sqft to 2,000 sqft will be built over four years. The sqft price varies from Rs 3,550 to Rs 3,950.
Mugaon will also be connected to Lonavala through another approach road and a tunnel is being built for the purpose, the company said.
Success in my Habit
Monday, March 26, 2012
SAIL chairman inaugurates newly rebuilt coke oven batteries at Bokaro
Kolkata: The Bokaro Steel Plant (BSL) of Steel Authority of India Limited (SAIL) is poised for quantum growth with the inauguration of two of its rebuilt Coke Oven Batteries (COBs) on Saturday.
The two coke oven batteries were inaugurated by SAIL chairman Mr C S Verma in presence of Director (Personnel) B B Singh, Director (Technical) & BSL CEO SS Mohantyand other senior officers and employees of the plant.
Re-built at a cost of Rs. 500 crores, the two COBs of BSL are completely emission free, with a high level of automation and increased productivity. Part of the 8-battery complex, these two COBs share the same basic dimensions, while improving upon other technical aspects.
Mr Verma also inaugurated the Coil Packaging Line-2 of the new Cold Rolling Mill. It is part of the new 1.2 MTPA Cold Rolling Mill complex, being built at a total cost of Rs. 3,000 crores. This mill is in the final phases of equipment testing and commissioning.
The products of this state-of-the-art mill are expected to meet the expectations of auto-body and premium white goods sectors. The mill capacity will include 0.84 MT of Cold Rolled products and 0.36 MT of coated products.
The CR product basket will include Extra Deep Drawn (EDD) Quality, Deep Drawn Quality (DD), Interstitial-free (IF), High Strength Low Alloy Steel (HSS), Dual-phase (DP), Transformation-induced Plasticity (TRIP), Bake-hardening (BH), in addition to Commercial Quality, with a maximum tensile strength of 680 MPa.
In the current phase of expansion, which started in 2008 January, the Hot Metal capacity of BSL is slated to go up from 4.59 to 5.77 MTPA. This phase of expansion envisages improvement in techno-economic parameters, removal of obsolescence and induction of new technologies through an infusion of Rs. 8625 crores in modernisation, expansion and sustenance schemes.
A number of units have already been commissioned and brought into regular production. With volume enhancement, technological upgradation and provision of a new turbo blower and Coal Dust Injection (total project cost of Rs. 1062 crores), the Blast Furnace-2 will have a productivity of more than 2 tonnes / M3 / day.
Further downstream, the Steel Melting Shop-2 & Continuous Casting Shop complex has been upgraded through the provision of a covered slag yard, computerised process control and a second ladle furnace, resulting in capacity augmentation from 2.85 to 3.35 MTPA.
The two coke oven batteries were inaugurated by SAIL chairman Mr C S Verma in presence of Director (Personnel) B B Singh, Director (Technical) & BSL CEO SS Mohantyand other senior officers and employees of the plant.
Re-built at a cost of Rs. 500 crores, the two COBs of BSL are completely emission free, with a high level of automation and increased productivity. Part of the 8-battery complex, these two COBs share the same basic dimensions, while improving upon other technical aspects.
Mr Verma also inaugurated the Coil Packaging Line-2 of the new Cold Rolling Mill. It is part of the new 1.2 MTPA Cold Rolling Mill complex, being built at a total cost of Rs. 3,000 crores. This mill is in the final phases of equipment testing and commissioning.
The products of this state-of-the-art mill are expected to meet the expectations of auto-body and premium white goods sectors. The mill capacity will include 0.84 MT of Cold Rolled products and 0.36 MT of coated products.
The CR product basket will include Extra Deep Drawn (EDD) Quality, Deep Drawn Quality (DD), Interstitial-free (IF), High Strength Low Alloy Steel (HSS), Dual-phase (DP), Transformation-induced Plasticity (TRIP), Bake-hardening (BH), in addition to Commercial Quality, with a maximum tensile strength of 680 MPa.
In the current phase of expansion, which started in 2008 January, the Hot Metal capacity of BSL is slated to go up from 4.59 to 5.77 MTPA. This phase of expansion envisages improvement in techno-economic parameters, removal of obsolescence and induction of new technologies through an infusion of Rs. 8625 crores in modernisation, expansion and sustenance schemes.
A number of units have already been commissioned and brought into regular production. With volume enhancement, technological upgradation and provision of a new turbo blower and Coal Dust Injection (total project cost of Rs. 1062 crores), the Blast Furnace-2 will have a productivity of more than 2 tonnes / M3 / day.
Further downstream, the Steel Melting Shop-2 & Continuous Casting Shop complex has been upgraded through the provision of a covered slag yard, computerised process control and a second ladle furnace, resulting in capacity augmentation from 2.85 to 3.35 MTPA.
Trident to invest Rs 3,600 cr in M.P. facility
New Delhi: Trident Group has announced setting up an integrated textile complex and expanding its yarn facilities at Budni, Madhya Pradesh. This will entail an investment of Rs 3,600 crore.
Mr Rajinder Gupta, Chairman, Trident Group, said, “The new facilities will be engaged in the manufacturing of terry towels, sheeting, value-added yarns and captive power plant. This expansion is expected to be completed by third quarter of 2013.” It will be one of the largest integrated home textile manufacturing facilities in the world.
Trident Group will also inaugurate its yarn projects at Budni comprising of 1.25 lakh spindles. The expansion project of the yarn spinning facilities is being implemented with an investment of Rs 1,200 crore. Subsequent to the commissioning of this yarn spinning unit, the total yarn spinning capacity has increased to 3.66 lakh spindles and 3,584 rotors.
Mr Rajinder Gupta, Chairman, Trident Group, said, “The new facilities will be engaged in the manufacturing of terry towels, sheeting, value-added yarns and captive power plant. This expansion is expected to be completed by third quarter of 2013.” It will be one of the largest integrated home textile manufacturing facilities in the world.
Trident Group will also inaugurate its yarn projects at Budni comprising of 1.25 lakh spindles. The expansion project of the yarn spinning facilities is being implemented with an investment of Rs 1,200 crore. Subsequent to the commissioning of this yarn spinning unit, the total yarn spinning capacity has increased to 3.66 lakh spindles and 3,584 rotors.
Oxford University opens gate to CBSE, ISC students
Kolkata: CBSE and ISC students scoring 90% and above can now seek admission in undergraduate courses at Oxford University. The students will, however, have to appear for admission tests and interviews for securing a seat in this highly prestigious academic institution.
Speaking at Calcutta University on Saturday, Oxford VC Andrew Hamilton detailed out the admission plans of the institution. "We have thrown our gates open to ISC and CBSE students who can seek admission in our undergraduate courses. They will have to score 90%. This is, however, only the application criteria.
The students will have to take tests in particular subjects and appear for an interview. We will test the intellectual capability of students and grant them admissions. However, no quota will exist in undergraduate courses for Indian students. Admissions will open from September 2013. The course fee will be 15,000 pounds a year," said Hamilton.
Addressing brilliant students from financially weak families, he assured, "A few scholarships are available for undergraduate studies. We are holding talks with several individuals and organizations, including Indian industrial houses, to draw more funds to offer scholarships."
Speaking at Calcutta University on Saturday, Oxford VC Andrew Hamilton detailed out the admission plans of the institution. "We have thrown our gates open to ISC and CBSE students who can seek admission in our undergraduate courses. They will have to score 90%. This is, however, only the application criteria.
The students will have to take tests in particular subjects and appear for an interview. We will test the intellectual capability of students and grant them admissions. However, no quota will exist in undergraduate courses for Indian students. Admissions will open from September 2013. The course fee will be 15,000 pounds a year," said Hamilton.
Addressing brilliant students from financially weak families, he assured, "A few scholarships are available for undergraduate studies. We are holding talks with several individuals and organizations, including Indian industrial houses, to draw more funds to offer scholarships."
Exim Bank extends credit to Central African Republic
Mumbai: Export-Import Bank of India has extended two lines of credit (LOCs) of $20 million and $39.69 million to the Government of the Central African Republic (CAR).
Lines of Credit
The LOCs, extended by the bank at the behest of the Government of India, are for development of a mining project ($20 million) and for two hydro-electric projects ($39.69 million) in the CAR, said an Exim Bank statement.
The LOC agreements were signed in New Delhi at the CII-EXIM Bank Conclave on India-Africa Project Partnership recently.
Cement Plant
Previously, Exim Bank had extended a line of credit to the African Republic of $29.50 million for setting up of a modern dry process cement plant and for supply of 100 buses for internal transport.
Lines of Credit
The LOCs, extended by the bank at the behest of the Government of India, are for development of a mining project ($20 million) and for two hydro-electric projects ($39.69 million) in the CAR, said an Exim Bank statement.
The LOC agreements were signed in New Delhi at the CII-EXIM Bank Conclave on India-Africa Project Partnership recently.
Cement Plant
Previously, Exim Bank had extended a line of credit to the African Republic of $29.50 million for setting up of a modern dry process cement plant and for supply of 100 buses for internal transport.
India, South Korea to double bilateral trade by 2015
New Delhi: India and South Korea have decided to expand their political and security cooperation besides improving the already thriving business ties to achieve the bilateral trade target of US$ 40 billion by 2015.
Dr Manmohan Singh, the Indian Prime Minister, noted that bilateral trade had risen 65 per cent over the past two years since the two countries implemented the Comprehensive Economic Partnership Agreement (CEPA).Since the implementation of CEPA from January 1, 2010, bilateral trade crossed US$ 20 billion mark in 2011.
“We have therefore set a new target of $40 billion by 2015. We also agreed to accelerate work in progress to upgrade the agreement and make it more ambitious,” added Dr Manmohan Singh after wide-ranging talks with Lee Myung-bak, President of South Korea.
Responding to Lee Myung-bak’s call, Dr Singh agreed to expand the political and security cooperation between the two countries.
“With this objective in mind, I informed President Lee of India’s decision to position a Defence Attache at our Embassy here in Seoul before the end of the year,” according to Dr Manmohan Singh.
“India has also offered to launch Korean satellites on Indian space launch vehicles,” as per Dr Manmohan Singh.
Dr Manmohan Singh, the Indian Prime Minister, noted that bilateral trade had risen 65 per cent over the past two years since the two countries implemented the Comprehensive Economic Partnership Agreement (CEPA).Since the implementation of CEPA from January 1, 2010, bilateral trade crossed US$ 20 billion mark in 2011.
“We have therefore set a new target of $40 billion by 2015. We also agreed to accelerate work in progress to upgrade the agreement and make it more ambitious,” added Dr Manmohan Singh after wide-ranging talks with Lee Myung-bak, President of South Korea.
Responding to Lee Myung-bak’s call, Dr Singh agreed to expand the political and security cooperation between the two countries.
“With this objective in mind, I informed President Lee of India’s decision to position a Defence Attache at our Embassy here in Seoul before the end of the year,” according to Dr Manmohan Singh.
“India has also offered to launch Korean satellites on Indian space launch vehicles,” as per Dr Manmohan Singh.
Friday, March 23, 2012
Caterpillar, Steelcast in tie-up
Mumbai: The Gujarat-based Steelcast, a castings manufacturer, has entered into an agreement with global major Caterpillar Inc. Under the agreement, Steelcast will set up a dedicated manufacturing facility to make castings conforming to Caterpillar's specifications.
Caterpillar will give an interest free loan of $5 million (Rs 25 crore) to Steelcast. The loan is to be repaid over four years. Caterpillar is a global leader in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Revenues for 2011 total $60 billion.
Mr Chetan Tamboli, Chairman, Steelcast, said, “Through this agreement, we expect sales to Caterpillar to grow multi-fold from around Rs 40 crore in 2010-11 to about Rs 150 crore in 2015.”
Mr Tamboli said that in February a team from the American Association of Rail Road, audited the company's manufacturing facility at Bhavnagar, Gujarat. The team is expected to certify the production facility to enable Steelcast to export castings to the US Railways from June.
Steelcast expects to clock revenues of over Rs 225 crore in 2011-12, with about exports mainly to Germany and the US accounting for about 45 per cent.
Caterpillar will give an interest free loan of $5 million (Rs 25 crore) to Steelcast. The loan is to be repaid over four years. Caterpillar is a global leader in the manufacture of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Revenues for 2011 total $60 billion.
Mr Chetan Tamboli, Chairman, Steelcast, said, “Through this agreement, we expect sales to Caterpillar to grow multi-fold from around Rs 40 crore in 2010-11 to about Rs 150 crore in 2015.”
Mr Tamboli said that in February a team from the American Association of Rail Road, audited the company's manufacturing facility at Bhavnagar, Gujarat. The team is expected to certify the production facility to enable Steelcast to export castings to the US Railways from June.
Steelcast expects to clock revenues of over Rs 225 crore in 2011-12, with about exports mainly to Germany and the US accounting for about 45 per cent.
Indofil forms joint venture with Chinese chemicals co
Gandhinagar: The Rs 5,000-crore K.K. Modi Group company Indofil Industries Ltd on Thursday announced formation of a joint venture with Shanghai Baijin Chemical Group of China. The venture will set up a carbon di-sulphide (CS {-2}) plant at Dahej in Gujarat with an investment of $40 million (nearly Rs 200 crore).
The plant, to be set up by the 51:49 ventre, will be known as Indo Baijin Chemicals Pvt Ltd. It will have an annual capacity to manufacture 50,000 tons of CS {-2} with an eco-friendly green technology, Mr K.K. Modi, Chairman, said here.
It will be the first of its kind plant in India, which currently imports 80 per cent of its CS {-2} requirements as raw material for various industries. Mr Modi told Business Line that his Group has signed agreement with Chinese partners to set up five to six specialty chemicals plants at Dahej in the next few years, as patents of various products start expiring in different countries. The CS {-2} plant is the first of these proposed plants, to be set up with an estimated investment of nearly Rs 5,000 crore.
The zero-waste plant, using natural gas as raw material, will be entitled to 25,000 tonnes of carbon credit a year and save 50,000 tonnes of wood (58 sq km of forests) annually, Mr Modi pointed out.
Indofil has also acquired two more sites at Dahej for a 6,000-tonne agro-chemical synthesis plant and a specialty chemicals plant with an investment of nearly Rs 600 crore.
Indofil had bought out trademarks and businesses of Dow Agrocide in Europe a couple of years ago. The company has set up a Rs 500-crore facility to manufacture these trademarked products at Dahej, which will start production in October.
The plant, to be set up by the 51:49 ventre, will be known as Indo Baijin Chemicals Pvt Ltd. It will have an annual capacity to manufacture 50,000 tons of CS {-2} with an eco-friendly green technology, Mr K.K. Modi, Chairman, said here.
It will be the first of its kind plant in India, which currently imports 80 per cent of its CS {-2} requirements as raw material for various industries. Mr Modi told Business Line that his Group has signed agreement with Chinese partners to set up five to six specialty chemicals plants at Dahej in the next few years, as patents of various products start expiring in different countries. The CS {-2} plant is the first of these proposed plants, to be set up with an estimated investment of nearly Rs 5,000 crore.
The zero-waste plant, using natural gas as raw material, will be entitled to 25,000 tonnes of carbon credit a year and save 50,000 tonnes of wood (58 sq km of forests) annually, Mr Modi pointed out.
Indofil has also acquired two more sites at Dahej for a 6,000-tonne agro-chemical synthesis plant and a specialty chemicals plant with an investment of nearly Rs 600 crore.
Indofil had bought out trademarks and businesses of Dow Agrocide in Europe a couple of years ago. The company has set up a Rs 500-crore facility to manufacture these trademarked products at Dahej, which will start production in October.
Ford lays foundation for $1-billion unit at Sanand
Sanand (Gujarat): Ford India on Thursday said it will commence production of four-wheelers at the new facility in 2014 for manufacturing engines and vehicles at Sanand.
The unit is being set up with an investment of $1 billion (nearly Rs 5,000 crore).
The company is setting up the new plant in 460 acres.
It will have an initial installed capacity to manufacture 2.70 lakh engines and 2.40 lakh vehicles a year, said Mr Michael Boneham, President and Managing Director, Ford India, after laying the foundation stone to mark inauguration of construction work.
The Gujarat Government has allotted another 150 acres to Ford India for suppliers. The company has attracted 19 world-class supplier manufacturers to date, he said.
The Sanand plant, when completed, will generate about 5,000 direct jobs, and indirect employment for many more people.
Figo to 50 nations
Mr Boneham said the company has until now committed investments of $2 billion (Rs 10,000 crore) at the Chennai and Sanand facilities.
Ford India will bring eight new vehicles to India by mid-decade, the first one being the all-new Fiesta, launched in July 2011. The Figo is being currently shipped to more than 33 countries and will eventually be exported to 50 international markets, he added.
Sharing vendors
Ford India will also consider synergies with common vendors supplying to neighbours like Tata Motors and Peugeot at Sanand to bring down the costs.
About the Chennai plant, he said the expansion of the powertrain facility to support sales and exports will be completed in mid-2012.
With this, the engine plant's annual production capacity will increase from 2.50 lakh to 3.40 lakh a year.
The unit is being set up with an investment of $1 billion (nearly Rs 5,000 crore).
The company is setting up the new plant in 460 acres.
It will have an initial installed capacity to manufacture 2.70 lakh engines and 2.40 lakh vehicles a year, said Mr Michael Boneham, President and Managing Director, Ford India, after laying the foundation stone to mark inauguration of construction work.
The Gujarat Government has allotted another 150 acres to Ford India for suppliers. The company has attracted 19 world-class supplier manufacturers to date, he said.
The Sanand plant, when completed, will generate about 5,000 direct jobs, and indirect employment for many more people.
Figo to 50 nations
Mr Boneham said the company has until now committed investments of $2 billion (Rs 10,000 crore) at the Chennai and Sanand facilities.
Ford India will bring eight new vehicles to India by mid-decade, the first one being the all-new Fiesta, launched in July 2011. The Figo is being currently shipped to more than 33 countries and will eventually be exported to 50 international markets, he added.
Sharing vendors
Ford India will also consider synergies with common vendors supplying to neighbours like Tata Motors and Peugeot at Sanand to bring down the costs.
About the Chennai plant, he said the expansion of the powertrain facility to support sales and exports will be completed in mid-2012.
With this, the engine plant's annual production capacity will increase from 2.50 lakh to 3.40 lakh a year.
VRL Logistics among 16 FDI proposals approved
New Delhi: The Government has cleared 16 proposals for foreign direct investment (FDI) worth about Rs 232.67 crore. These include proposals by VRL Logistics, CIIE Initiatives and Softgel Healthcare, Chennai.
The largest FDI proposal (Rs 175 crore) of Karnataka-based VRL Logistics is for transportation of goods and passengers, courier services other than postal services, aircraft charter services, and wind power generation, involving the installation and sale of electricity produced by wind power generators.
The approvals were based on the recommendations of Foreign Investment Promotion Board's meeting held on March 2, a Finance Ministry release said here on Thursday.
A total of 21 proposals were deferred. Among these are Mahindra and Mahindra's proposal to set up a joint venture to develop, manufacture and provide service support for radar systems and various kinds of defence electronic systems.
Another deferred proposal is from HSBC Insurance Services Holdings Ltd, London, for infusion of foreign investment into an Indian company that does not have any operations or downstream investments.
The deferred proposals also include Network 18 Media & Investment, YourNest Angel Fund Trust, Domino Printing Sciences Plc, UK, Advent Business Credit Development Company, Pune and Reed Elsevier India Pvt. Ltd.
Among the five proposals that were rejected was Bharti Shipyard's application to undertake additional defence production activity.
The next meeting of the FIPB is scheduled for March 30.
The largest FDI proposal (Rs 175 crore) of Karnataka-based VRL Logistics is for transportation of goods and passengers, courier services other than postal services, aircraft charter services, and wind power generation, involving the installation and sale of electricity produced by wind power generators.
The approvals were based on the recommendations of Foreign Investment Promotion Board's meeting held on March 2, a Finance Ministry release said here on Thursday.
A total of 21 proposals were deferred. Among these are Mahindra and Mahindra's proposal to set up a joint venture to develop, manufacture and provide service support for radar systems and various kinds of defence electronic systems.
Another deferred proposal is from HSBC Insurance Services Holdings Ltd, London, for infusion of foreign investment into an Indian company that does not have any operations or downstream investments.
The deferred proposals also include Network 18 Media & Investment, YourNest Angel Fund Trust, Domino Printing Sciences Plc, UK, Advent Business Credit Development Company, Pune and Reed Elsevier India Pvt. Ltd.
Among the five proposals that were rejected was Bharti Shipyard's application to undertake additional defence production activity.
The next meeting of the FIPB is scheduled for March 30.
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