Posts Tagged ‘Thermax’

News Round Up – India

Hello Friends here we come up with the Latest News round up from Indian Economy and various industrial Sectors of the country.

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News Round Up

Economy

 

路聽 Wholesale price of food items rose 14.55% for the week ended November 7 from a year earlier due to dearer cereals, dairy items as well as mutton and eggs.

However, wholesale prices of fuel-related products dipped 1.51% in the week under consideration, compared to the corresponding period of the previous year.

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Oil & Gas

Cairn India and its joint venture partners have decided to take up 4 dimensional (4D) seismic survey of Ravva field in the Krishna-Godavari Basin to further explore oil and gas reserves.

路 Liquefied gas importer, Petronet LNG Ltd (PLL), is keen to acquire up to 10 per cent stake in ONGC Petro-additions Ltd (OPaL), which is setting up a cracker complex in Gujarat.

OPaL is, a Rs 12,440-crore petrochemicals project, being set up by ONGC at Dahej in Gujarat.

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Infrastructure

The Adani group-promoted Mundra Port and Special Economic Zone (MPSEZ) is all set to develop a non-LNG port at Hazira.

Hazira Port, which is a joint venture of Shell Gas BV and Total Gaz Electricite Holdings France, issued a letter of intent to the Adani group for developing the port in the booming southern Gujarat industrial belt.

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Capital Goods

路 State-run Bharat Heavy Electrical (BHEL) has set up a new transformer manufacturing facility at Bhopal in Madhya Pradesh.

This new facility would enable BHEL to produce an additional 12,000 MVA (mega volt ampere) of transformers per annum.

路 Pollution control equipment maker Thermax bagged an order worth Rs 477.77 crore from an Orissa-based company for construction of a captive power plant.

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Aviation

路 The Vijay Mallya-led Kingfisher Airlines led the chart of the loss-making carriers by reporting a massive Rs 1,602 crore in losses in 2008-09, followed by Jet Airways with a loss of Rs 1,032 crore.

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Oil Drilling

Jindal Drilling & Industries has bagged an order worth Rs 635 crore from Oil and Natural Gas Corporation (ONGC) for hiring a drilling unit for five years.

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Metal

Tata Steel, the world’s sixth largest steel maker, is raising its annual iron ore production by 55 per cent to 17 million tonnes in India over the next two years.

The expansion is expected to cost about Rs 1,100 crore.

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Information Technology

路聽 Satyam Computer Services (rebranded Mahindra Satyam) has received legal notices from 37 companies claiming a refund of $265 million (approximately Rs 1,230 crore), allegedly given as temporary advance.

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Automobile

Mahindra & Mahindra, India’s largest manufacturer of sports utility vehicles, is believed to be in advanced talks with the Tamil Nadu government for establishing an integrated auto facility in the state.

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Forging

路聽 The Kalyani Group’s flagship company Bharat Forge is planning to make a big foray into the power sector with an investment of up to Rs 50,000 crore and a targeted generation capacity of up to 10,000 Mw, over the next 10 years.

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