News Snippets

SAIL forms a JV company with Jaiprakash Associates to set up a 2.1mn ton cement plant in Bokaro, with an investment of Rs4.1bn.(BL)
- NHAI awards five projects worth Rs109bn for six-laning of highways under NHDP-V to infrastructure developers, including L&T, IRB among others.(DNA)
- BPCL, HPCL and IOC will jointly invest Rs24bn to buy/lease plantations to produce ethanol in Brazil. (TOI)
- BHEL and Nuclear Power Corporation of India are planning to float a JV to take up construction activities for nuclear power plant. (DNA)
- Shree Cement upcoming Rs20bn cement project in MP is getting delayed due to land procurement hassles. (DNA)
- Nalco’s 1.5mn ton aluminum refinery and a 257,000 ton smelter gets approval from Andhra Pradesh government.(BS)
- Deccan Aviation plans to raise Rs16bn by way of domestic or overseas offerings to institutional investors.(BL)
- National Aviation Company to invite bids for the country’s largest aviation insurance policy with a cover of US$7bn.(Mint)
- Hindustan Aeronautics in talks with Honeywell International to manufacture 1,000 small plane engines locally for global market.(Mint)
- Sakthi Sugars European subsidiary has bought a Swedish auto –part maker. (TOI)
- Ambuja Cements to buy three cargo ships for investment of Rs1.5bn, taking total fleet size to ten ships.(BS)
- Reliance Energy has approached the Haryana government for an extension of deadline for commissioning a 600-MW power project. (DNA)
- Asset Reconstruction Company India plans to acquire Rs20bn worth of bad loans by March.(BL)
- Kalyani group plans to set up a 1mn ton steel plant and a 500MW power plant at an investment of Rs65bn in WB. (ET)
- State run fertilizer firm RCF to form a JV for phosphoric acid and granulation unit, in collaboration with Industrial Development Corporation of South Africa and Foskor.(FE)
- ICSA India secures order worth Rs 440mn from Northern Power Distribution Company of AP Ltd, Warangal.(DNA)
- Renault and Nissan to invest Rs45bn for their 50:50 JV planned near Chennai; first car expected to roll out in 2010.(BL)