Upcoming Projects in India

7076 Ahmedabad-based Gautam Adani, promoter of the $11-billion Adani Group, is betting big on mineral-rich Jharkhand with his group signing investment commitments of Rs 50,000 crore to start a 1,600 MW coal-based power plant and a methane fertilizer plant using ‘coal to gas’ technology. On Wednesday, the Adani Group signed an MoU with the Jharkhand government for a Rs 15,000-crore investment in a 1,600 MW thermal power plant for supply to the Bangladesh grid. The group has entered into an agreement with the Bangladesh Power Corporation to provide it energy. The proposed plants will be set up in Goda and Sahipench districts of the State. The remaining Rs 35,000 crore will be invested in a unit that will produce methane-based fertilizer. The MoU was signed by Jharkhand Chief Minister Ragubar Das and Rajesh Adani, managing director, Adani Group, during the Jharkhand Investors Summit at the Make in India Week, said a Jharkhand government statement on Wednesday.

7075 Tata Steel Ltd has received final environment clearance for its Rs 1,877 crore expansion project to be carried out at Jamshedpur Steel Works in Jharkhand. "The Environment Ministry has considered the application based on the recommendations of the Expert Appraisal Committee (Industry-I) and decided to grant environment clearance (EC) to the proposal for expansion of crude steel production at Tata Steel Works," a senior government official said. The EC, which was issued yesterday, has been given to the company subject to strict compliance to specific and general conditions, the official added.

7074 To meet the country's growing needs, the government plans to set up nuclear power plants in in Bihar, Haryana and Punjab, Lok Sabha was informed today. Government aims to increase nuclear power generation capacity by three times in ten years. If it is 4,780 MW today, the same would go up to 13,480 MW, Union Minister Jitendra Singh said during Question Hour in the Lok Sabha. He said new places are being explored for setting up plants to generate nuclear power which would be a big source for meeting the growing energy needs. With regard to nuclear power programme, Singh, the Minister of State in the Prime Minister's Office, said the government is considering setting up new plants in areas not covered before. A site has been identified for a nuclear plant in Razauli in Bihar's Nawada district in the last 18-19 months of the current government.

7073 In line with the Petroleum Ministry’s decision to open skill development institutes in different parts of the country, Bharat Petroleum Corporation Ltd will set up one such institute in Kerala. The company has signed an agreement with Kerala Government for setting up the institute at Ettumanoor for which the government had allotted 8 acres vacant land at the ITI campus. The Petroleum Ministry’s move to set up such institutes in various parts is to bring out the best of the youth and to enhance their employability in the oil and gas industry and other sectors. Accordingly, each major Oil & Gas PSU’s such as IOCL, ONGC, BPCL, HPCL, OIL and GAIL volunteered to set up one skill development institute and BPCL selected Kerala.

7072 Inox Wind Ltd has bagged a 20 MW wind power project, which would be set up at Mandsaur in Madhya Pradesh. The order has been placed by PTC Energy, a 100 per cent subsidiary of PTC India. It is the first order placed by PTC Energy with Inox Wind and the project is due to be commissioned by March 2016. At the project site Inox already has common infrastructure facilities, which are capable of evacuating 200 MW of electricity. Inox will be responsible for the entire project lifecycle. At the site, 10 units of its 2 MW DFIG 93.3 rotor diameter wind turbine generators would be set up.

7071 Rajasthan State Road Development And Construction Corporation is planning a medical college campus in dist. Bharatpur, Rajasthan. Tenders have been invited for construction of medical college campus for 100 MBBS admissions annually and up-gradation of District Hospital, Bharatpur into Teaching Hospital, Bharatpur. The estimated cost of the project is Rs. 1.16 billion. Documents can be downloaded till 1st March, 2016. The last date for online submission of bids is 1st March, 2016.

7070 Mumbai-based Homi Bhabha National Institute (HBNI) has been given approval by the HRD ministry to start an off-campus centre at Bhubaneswar in the name of National Institute of Science Education and Research (NISER) with prospective effect. The ministry, in a statement released on Wednesday, said it has issued a notification in this regard on the advice of the University Grants Commission (UGC).

7069 Delhi based crop-protection company, Safex Chemicals has raised Rs. 60 crore (USD 9 mn) in funding from BanyanTree Growth Capital II LLC, a private equity fund focussed on providing growth capital to SMEs in India. Safex Chemicals, promoted by S.K Chaudhary, Neeraj Jindal, Rajesh Jindal and Piyush Jindal is in the business of manufacturing and distribution of agrochemical formulations, having strong presence in Northern India. It has built a network of more than 6000 dealers across India, and has a leadership position in Punjab and Northern UP. Company has grown at a CAGR of more than 40% over the last 5 years.

7068 The Cabinet Committee of Econmic Affairs on February 17, 2016 approved construction of six railway lines and a railway bridge to cater to both increased passenger and freight needs in various areas of the country. The proposals will cost over Rs 10,700 crore and most part of the expenditure will be met through extra budgetary resources (institutional financing). Six approved projects include doubling of Hubli-Chickajur railway line; construction of Wardha (Sewagram)-Ballarshah third railway line; doubling of Ramna-Singrauli railway line; construction of third railway line between Anuppur-Katni; doubling of Katni-Singrauli railway line; and construction of additional bridge & doubling project of Rampur Dumra-Tal-Rajendrapul. Doubling of 190 km long Hubli-Chickajur broad gauge single railway line, with estimated expenditure of Rs 1294.13 crore, is likely to be completed in 4 years & 3 months years during 13th Plan period and will cover the areas of Chitradurga, Davangere, Haveri and Dharwad. This stretch is part of an important rail link of passenger trains between Mumbai and Bangalore and goods trains to the ports at Mangalore.

7067 Farmers, traders and exporters of seed spices in Gujarat would be a happy lot. The Spices Board India announced its intentions to set up Spice Park at Unjha with an objective to provide processing infrastructure to the small and medium players. Out of the three Spice Parks planned to be set up in the country, two will come up at Kota in Rajasthan and Rae Bareli in Uttar Pradesh in a year's time. However, the one planned near Unjha may take loner time and the Board is awaiting the state government's decision on land allocation for the same. It has asked for 20 acres of land from the state government to set up the Park. "We want to set up the Spice Park preferably closer to Unjha, which is the largest seed spices trading market. The Spice Park will have common facilities like cleaning, sorting and labelling etc that will benefit the small and medium spice traders from the region," said A Jayathilak, chairman, Spices Board India, on the sidelines of the 13th World Spice Congress 2016 here.

7066 My Home Group, with interests in real estate and cement business, has started Rs. 1,000-crore residential project at Puppalguda near the Gachibowli IT corridor. To be taken up in two phases, the 23-acre project would have 10 blocks, with a total of 2,800 flats. “We will construct five blocks in the first phase, with each block having ground plus 30 floors. The buildings will come up in 16 per cent of the area, with the remaining space being allocated for parks, swimming pools and other amenities,” J Shyam Rao, Executive Director of My Home Constructions Private Limited said. Addressing a press conference here on Sunday after the ground-breaking ceremony, he said the cost of flats would start from Rs. 65 lakhs with payment schedule spanning a period of three years. The firm completed 15 residential and commercial projects with a total built-up area of about 60 lakh sq ft in different parts of the city.

7065 PB Lifestyle Ltd, the master and exclusive licence holder in India for Playboy Enterprises Inc, USA, has launched what is billed as the world’s first Playboy beer garden in Pune. The garden is part of the company’s plans to roll out clubs, cafes, lounges and pubs, beer gardens, hotels, signature events and merchandise under the Playboy brand. “The first Playboy beer garden in the world, right here in Pune, encompasses a fusion of fine dining, entertainment, music and some freshly brewed beer,” Parag Sanghavi, Chairman, PB Lifestyle, said. The next such beer garden is scheduled to be opened in Bengaluru later this year. Other plans for 2016 include launch of a flagship club at Worli in Mumbai in April (Playboy clubs are present in Hyderabad and Goa), while cafes are scheduled to open in Gurgaon (NCR) followed by Hyderabad’s Jubilee Hills in the second quarter of 2016. Spread over 8000 sq ft, and offering both outdoor and indoor space, Playboy beer garden Pune also has special pet spots.

7064 Twinstar Display Technologies, promoted by Volcan Investments, today sign a Memorandum of Understanding (MoU) with the Government of Maharashtra, to set up a LCD manufacturing unit, known as Panel FAB. Under the agreement, Twinstar Display Technologies will invest $10 billion over 5 phases. The deal was signed at the inaugural day of Make In India Week in the presence of the Prime Minister Narendra Modi at the MMRDA grounds, Bandra Kurla Complex. "We have made good of the promise we made to the nation during the Digital India Summit in July 2015. We are happy to participate in two of the Government's key initiatives - the 'Make in India' campaign as well as 'Net Zero Electronics import by 2020'. We will endeavour to make India a significant export hub of display units with the setting up of Panel FAB," said Anil Agarwal, Chairman, Vedanta Group.

7063 Ramdev Chemical Industries is propose to Expanse Dyes project in Anklesvar, Bharuch District.Environment clearance for the project is under process

7062 Agro-chemical firm Rallis India has received green clearance for setting up of a Rs 200 crore manufacturing unit in Gujarat. The Union Environment Ministry has given the green signal based on the recommendations of the Expert Appraisal Committee (EAC). "The Ministry has given its final clearance to Rallis India for setting up of a agro-chemical manufacturing plant in Bharuch district, Gujarat. The environment clearance (EC) has been given subject to some conditions

7061 The Spices Board of India on Friday announced setting up of regional quality evaluation lab at Kandla Port in Kutch to create testing facilities to check pesticide residuals and microbiological contamination in spices. The lab, first in Gujarat and seventh in the country, is likely to be operational by March-end, informed A Jayathilak, Chairman of the Spices Board, ahead of the 13th edition of ‘World Spice Congress 2016’ being held in Ahmedabad between February 27 and 29. Currently, the Spices Board has six such regional quality evaluation labs each located in Mumbai, Guntur, Chennai, New Delhi, Kochi and Tuticorin. Gujarat assumes significance especially for the exports of spices such as cumin, coriander and fennel seeds. Setting up of a regional lab would make it easier and quicker to test various parameters like total plate count, yeast and mould count, coliforms, aflatoxin, moisture, colour value, volatile oil in the samples easier and quicker for exporters from the State.

7060 To augment road infrastructure in far-flung tough terrain, the border and coastal areas, the government proposes to spend Rs. 2.67 lakh crore under its ambitious Bharatmala project. The programme is targeted for completion by 2022. “Bharatmala is a proposed umbrella scheme at an estimated cost of Rs. 2,67,200 crore” the Economic Survey for 2015-16 tabled in Parliament by Finance Minister Arun Jaitley, said today. The survey said the government would spend Rs. 80,250 crore on development of 7,000 km of state roads along coastal areas or border areas, including connectivity of non-major ports. For backward areas, religious and tourist places connectivity it will spend Rs. 85,250 crore on augmenting another 7,000 km, it said. On “Setubhratam Pariyojana, which is for the construction of about 1,500 major bridges and 200 ROBs (road over bridges/ RUBs (road under bridges)”, it will spend Rs. 30,000 crore. Under the programme, the government intends to spend Rs. 60,000 crore on district headquarters connectivity for development of about 9,000 km of newly declared national highways, it said. With about 52.32 lakh km of road network comprising National Highways, State Highways and other roads, India has the second largest road network in the world. National Highways in the country cover a length of 1,00,475 km and carry about 40 per cent of the road traffic. Apart from Bharatmala, the government said it has approved a scheme for the development of about 1,177 km of NHs and 4,276 km of state roads in Left Wing Extremism (LWE)-affected areas as a Special Project with an estimated cost of about Rs. 7,300 crore. Under the Special Accelerated Road Development Programme for the North-Eastern region (SARDP-NE) under phase A the government will take up improvement of about 4,099 km of road length (2,933 km of NH and 1,166 km of state roads) by March 2017. The survey said Phase B, which will be taken up after Phase A is completed, will cover 3,723 km (1,285 km NHs and 2,438 km state roads) of road. The Arunachal Pradesh Package for Road and Highways involving development of about 2,319 km road length (2,205 km of NH and 114 km of state/general staff/strategic roads) has also been approved by the government, the Survey said. On the status of the National Highways Development Project (NHDP) it said a total length of 26,177 km road has been completed as on December 31.

7059 The Gurgaon-based Talbros Automotive Components Ltd, an integrated player in the automotive components industry, commenced operations at new dedicated heat shield line at its Faridabad (Haryana) plant on February 4, 2016. Heat shields are used to insulate heat, sound and vibration in automobile engines, electric generator engines and exhaust pipes. Even as heat shield products are used in the manufacture of heavy and medium commercial vehicles in India, they are not used in passenger cars (except for export-bound cars). As Indian automobile engines become increasingly compact and emission standards more demanding, the use of heat shield products is expected to become mandatory for Indian passenger cars as well. The new dedicated line will support in catering to larger orders in the coming financial year. The division has reputed clients such as Volvo Eitcher India and Volvo in US,” said Talbros in a press release. The company already supplies heat shields to prominent heavy commercial vehicle customers like Daimler, Tata Motors, VE Commercial Vehicles, Volvo and Ashok Leyland.

7058 Tata Housing will invest about Rs 400 crore over the next three years to develop a mid-income housing project in Goa as part of its strategy to tap the rising demand for second homes. This is the second project that the Tata group firm will be developing in that city. About 7-8 years ago, it had developed a luxury project comprising 65 villas. The company will develop about 650 housing units on a 7-acre land parcel in Goa. It is already developing housing projects in Kasauli (Himachal Pradesh), Lonavala (near Mumbai) and Talegaon (near Pune) targeting buyers looking for second home.

7057 North Eastern Electric Power Corporation (NEEPCO) is planning the 330 MW Kurung hydro electric project on River Kurung at Village Muiri, dist. Kurung Kumey, Arunachal Pradesh. The project is waiting for environmental clearance

7056 US-based pizza chain Marco's Pizza today forayed into Indian market by opening its first outlet in the city and plans to have 400 stores in the country in the next five years. Headquartered in Ohio, Marco's Pizza operates 650 stores in 36 states of the US, Puerto Rico and the Bahammas. "We will open 400 stores in India in a period of five years," Marco's Franchising President and Chief Operating Officer Bryon Stephens told reporters here. The company is entering India through the franchise route.

7055 Rajasthan State Warehousing Corporation Planning, Designing And Execution Of Modern Warehousing Facility With Pre Engineered Structures With A Minimum Capacity

7054 Japanese imaging solutions provider Ricoh Group is planning to invest Rs 300 crore in India over two years’ time which will primarily go into developing data centres and business zones. The company is also evaluating plan to set up its own manufacturing facility in India. Manoj Kumar, MD & CEO, Ricoh India, the listed Indian entity of the $23 billion Ricoh group told reporters here on Friday that the company’s third data centre will come up at Gandhinagar in Gujarat. The company already has two data centres in India — one in Kolkata and another in Delhi. The business zones will serve as a one-stop destination for other companies, as they will get support of Ricoh’s IT and communication infrastructure to run their operations. “Typically, it will cost somewhere between Rs 80 crore and Rs 100 crore to set up a data centre. We need to have our own data centres in order to get customers’ preference for our services.

7053 Rapid diversification strategy saw C.R.I. Pumps (P)Limited, a global force in the pump industry, entering into high value product of non-metallic plastic pipe segment early last year. Now, C.R.I. has opened its second Pipe manufacturing plant at Hosur, Tamilnadu. This new plant at Hosur offers top-of-the-line manufacturing facilities with state of the art machinery. This plant will ensure that the southern and eastern indian markets are catered to. The operations began with the manufacture of uPVC and CPVC pipes designed with higher durability to provide an efficient pumping and plumbing system at the state-of-the-art manufacturing facility at Gandhinagar, Gujarat. This unit presently caters to the western, northern and central Indian markets and the response so far has been overwhelming. Currently Gandhinagar, Gujarat plant is operating to full capacity.

7052 Hotel Motimahal is planning to construct a 5-star hotel at Village Penamburu, dist. Dakshina Kannada, Karnataka on 5.99 acres. The estimated cost of the project is Rs. 360 million. The hotel will comprise of G+10 floors with restaurants, banquet hall, coffee shop, health club & bar. The project is in planning stage and is planned for completion in 4-5 years from zero date.

7051 Specialty hospital chain Paras Healthcare aims to have around 2,000 beds in the next three years as it plans to expand operations in North India. The company, which has over 700 operational beds across five hospitals, eyes expansion mainly in tier II and tier III cities. "We aim to have around 1,800-2,000 beds in the next three years. There is a huge demand and supply gap for healthcare facilities in North India. So we would like to focus on this region for further expansion," Paras Healthcare Managing Director Dharminder Nagar said.

7050 Another state in India has approved construction of an ultra mega solar power project, boosting the Indian Government’s plan to set up 20 GW of large-scale solar power parks. The Ministry of New and Renewable Energy (MNRE) has approved a 500 MW solar power project in the northern state of Haryana. The ministry has asked the Haryana Energy Development Agency (HAREDA) to prepare a detailed project report following which the final formalities for the tendering and implementation will take place. India aims to have 100 GW of operational solar power capacity by March 2022, including 20 GW from large-scale solar power projects in various states. Under this programme, the state agencies will ensure availability of land and grid connectivity while the Solar Energy Corporation of India Limited (SECI) will oversee the tendering process for the individual projects that will make up the large-scale solar power parks.

7049 Skipper Limited, one of the renowned Power Transmission & Distribution and PVC Pipes manufacturing players in India, commenced trial production of its PVC plant in Sikandrabad. The company representatives also announced new orders worth approximately Rupees 500 crores in its Engineering & Infrastructure business segments. The new plant in Sikandarabad will have an installed capacity of manufacturing 6000 MTPA of Plumbing and Agri pipes. This takes the total capacity of Skipper’s PVC business to 35,000 MTPA. The unit will cater to demand in the Northern part of the country.

7048 The Environment Ministry has considered the application based on the recommendations of the Expert Appraisal Committee (industry-i) and hereby decides to grant environment clearance (EC) to the proposal of expansion of steel plant subject to compliance of some specific and general conditions," an EC letter marked to the company said. Uttam Value Steels Ltd (UVSL) has received final environment clearance to double its steel production capacity to two million tonnes per annum (MTPA) in Maharashtra, which will entail an investment of Rs 3,325 crore. "The Environment Ministry has considered the application based on the recommendations of the Expert Appraisal Committee (industry-i) and hereby decides to grant environment clearance (EC) to the proposal of expansion of steel plant subject to compliance of some specific and general conditions," an EC letter marked. As per the proposal, the company will expand the capacity of steel plant from one MTPA to two MTPA in Wardha district of Maharashtra. The total project cost of the expansion project is estimated at Rs 3,325 crore. The expansion facilities will be built within the existing premises for techno-commercial viability of entire steel complex.

7047 Jharkhand Chief Minister Raghubar Das today informed the state Assembly that Yoga Guru Ramdev has evinced interest to set up a herbal 'medicinal plant' in the state. Replying to a short notice question of Jai Bharat Samanta Party MLA Gita Koda, Das said Jharkhand is a treasure trove for herbal plants and the government would take all possible steps to develop it. Stating that Ayurveda has attracted the world, Das said Ramdev has offered to set up a 'medicinal plant' in the state.

7046 Yoga guru Baba Ramdev-promoted Patanjali Yogpeeth will set up four industrial units in Vidarbha region of east Maharashtra, including in the backward district of Gadchiroli. The units will come up in Multi-modal International Cargo Hub and Airport at Nagpur (Mihan), Amravati and Katol, besides in Gadchiroli. "Maharashtra government has decided to provide 347 acres of land in Mihan to Patanjali Yogpeeth for setting up a food processing unit. "Some 108 acres of this land will be in the special economic zone ( SEZ) and the remaining 239 acres outside it. The unit will generate employment for over 10,000 locals," Gadkari said after presiding over a meeting of the concerned officials recently.

7045 Air-conditioner maker Blue Star plans to invest ₹215 crore in the next three-four years to increase its overall production capacity to a million units per year. The company is in the process of setting up two major facilities, which would redesign and augment its manufacturing footprint, Blue Star said in a statement. The new units at Samba in Jammu and Sri City in Andhra Pradesh will primarily manufacture room ACs, deep freezers and water coolers.

7044 Modulex India, a modular building construction company incubated by Red Ribbon Advisory Services (RRAS), said it will invest Rs. 100 crore to set up a modular building construction factory in Pune. Poised to be the world’s largest and India’s first steel modular factory, Modulex expects to create approximately 1,000 jobs in India by 2017. The company, built on a 40 acre land, will start production in March 2017.

7043 Syngene International, the contract research arm of biotechnology major Biocon, is looking to invest $200 million (over Rs.1,370 crore) over the next two years to expand capacity and upgrade manufacturing facilities. “Capex of $200 million (is) envisaged over FY16 to FY18,” Syngene International said in a investor presentation. The capex would be used towards capacity expansions, capability additions and technology upgradation, it added. The investment areas for the capital expenditure are research centre, formulation centre, manufacturing facilities and expansion of new capabilities, Syngene International said. The company said it will tap a mixture of its own resources and debt to raise funds for future growth.

7042 Kapci India has already begun construction of its first unit in Karnataka Kapci Coatings, an Egyptian company making auto refinish products, is planning to invest around $50 million in five factories across India, according to Hatem Tageldin, Ambassador of the Arab Republic of Egypt to India. He said Kapci India already had considerable market share and hence decided to expand its operations in the country. It had already begun construction of its first unit in Karnataka. While other Egyptian companies were either planning or already investing in manufacturing facilities to tap the potential of theIndian market, companies in the country, too, were increasing their presence in the North African nation, according to the envoy.

7041 They will set up plants at Bhumi World Industrial Park on Mumbai-Nashik highway. mall and medium enterprises will invest more than Rs.84 crore in the upcoming industrial hub of Bhiwandi in Maharashtra with about 25 such firms signing a pact with the State government during the just concluded Make in India Week in Mumbai. The companies will set up facilities at Bhumi World Industrial Park at Bhiwandi on the Mumbai-Nashik highway. The park which is dotted with warehouses, logistic parks, industrial sheds, and industrial parks due to its close proximity to Mumbai. The committed investment range is as low as Rs.1 crore to Rs.8 crore over the next two years.

7040 The tie-up between Reliance World, an Anil Dhirubhai Ambani Group Company and Aryans, a US based BPO company has resulted in the unique concept of franchised BPO outlets. The tie-up between Reliance World, an Anil Dhirubhai Ambani Group Company and Aryans, a US based BPO company has resulted in the unique concept of franchised BPO outlets. In less than six months of launching this innovative franchisee model of BPO business in the metro cities, the companies are now looking at going into tier-II and III cities and other smaller towns. As per the agreement, Reliance will provide 5000 seats of its existing 240 outlets in 104 cities for the successful running of BPO companies. With this model Reliance and Aryans aim to bring about an exponential change in the BPO sector.

7039 Konkan Railway plans to launch the track-doubling work on the Roha-Veer section after the tendering process is completed in the next few months. The 49-km section will be doubled at an estimated cost of Rs.295 crore. Sanjay Gupta, Interim CMD and Director of Operations, KRCL, told a media conference in Navi Mumbai on Friday that track doubling would begin from the Roha end of KRCL as the work between Panvel and Roha is likely to be completed by Central Railway soon. Commencement from the Roha-end would ensure continuity, he added. According to Gupta, track doubling seeks to enhance capacity by 2.5 times and improve average speed besides enabling KRCL to handle freight traffic from port connectivity.

7038 A senior company official said that in the next three years, the company will increase its manufacturing capacity to 46 million metres annually from the current 21 million, through a new plant at Amravati and its existing plant at Kolhapur. The company is investing Rs 450 crore in a new textile unit at Nandgaon Peth in Amravati district in Vidarbha. The plant will have an annual capacity of 20 million metres of cotton fabric. "With the new plant at Amravati, we will ramp up our production capacity up to 46 million metres in the next three years. Our Kolhapur facility is looking to scale up its overall production to 26 million metres by 2018. We are upgrading our technology and machines at the Kolhapur plant," said S K Gupta, president (shirting business) and group CEO (UCO Denim), at Raymond.

7037 EDF Energies Nouvelles (EN) has entered into a joint venture with SITAC Group founded by Malvinder Singh with plans to install 142 MW of wind power capacity by the end of this year. The JV, SITAC Management & Development Pvt Ltd (SMDPL), is a 50-50 partnership between the SITAC Group and EDF EN. A pact for partnership was exchanged by Singh and Jean-Bernard Levy (Chief Executive Officer and Chairman of EDF Group) in the presence of French president Francois Hollande and Prime Minister Narendra Modi at the recently concluded India-France Business Summit at Chandigarh.

7036 Ostro Energy Private Limited, a renewable energy platform backed by PE firm Actis, plans to implement projects worth $425 million in Andhra Pradesh. The company will set up two wind farms with a total capacity of 197.4 megawatt (MW) through its two subsidiaries — Ostro Andhra Wind Private Limited and Ostro AP Wind Private Limited. The investment will also be backed by International Finance Corporation (IFC). The estimated cost of the project is likely to be around $246 million. The proposed IFC investment consists of an IFC 'A' Loan of up to Rs 400 crore (around $62 million) and mobilisation of up to Rs 800 crore (around $123 million), according to IFC's disclosure.

7035 State-run MOIL today said its board has approved an investment to the tune of Rs 61.83 crore for setting up a solar power project for captive use. "The Board of Directors of the company at its meeting held on February 10, 2016, has approved investment proposal for setting up 10.50 MW solar power project for captive use in the lease hold areas of company's mines situated in Madhya Pradesh and Maharashtra, with a total estimated cost of Rs 61.83 crore. The company had yesterday reported that its standalone net profit for the quarter ended December plunged 87.8 per cent to Rs 13.16 crore due to lower income. The company's income from operations declined 59.7 per cent to Rs 87.81 crore as against Rs 218.38 crore in the corresponding quarter a year ago.

7034 Cyient Limited, a Hyderabad-based IT engineering services company, is establishing a technology development centre at the Madikonda special economic zone in Warangal. Telangana chief minister K Chandrasekhara Rao will lay the foundation stone of the new facility on Friday. Set on a five-acre campus, the planned facility will cover an area of 70,000 sq ft. Initially, it will commence operations in April 2016, at the incubation centre of Telangana State Industrial Infrastructure Corporation. The centre will employ approximately 1,000 professionals over the next 18 to 24 months.

7033 Reliance Gas Pipeline Ltd (RGPL) has got the final environment clearance for its Rs 1,428 crore project to build a 486-km long pipeline through Gujarat and Maharashtra for transportation of liquid ethane. "Based on the recommendation of the Expert Appraisal Committee (EAC), the Union Environment Ministry has given environment clearance and coastal regulation zone ( CRZ) clearance to the Dahej Nagothane Ethane Pipeline Project of RGPL," he clearance to the project 'Dahej Nagothane Ethane Pipeline (DNEPL)' was given subject to certain conditions, the official said, adding that the clearance letter was issued to the company on February 15.

7032 Spread over 250 acres, the 1.2 million two-wheelers per annum capacity plant has come up with an investment of Rs 1,100 crore in just 13 months. Gujarat is now home to the world's largest scooter manufacturing site, as Japanese two-wheeler giant Honda Motorcycle and Scooter India (HMSI) started its fourth plant in India at Vithalapur, a scooters’-only facility, just 15 km from Suzuki Motor Corporation's upcoming facility in Gujarat. Spread over 250 acres, the facility has come up in just 13 months with an investment of nearly Rs 1,100 crore. Initially, the plant would produce around 600,000 scooters per annum which would be scaled up to 1.2 million scooters per annum by mid 2016. With the Gujarat plant commencing full production, HMSI's net installed capacity in India would be scaled up to 5.8 million units per annum in 2016 from 4.6 million units at present. Around 22 vendors of HMSI have set up shop in the vicinity of Vithalapur and in Sanand (about 40 km from here), and have cumulatively invested around Rs 1,100 crore in Gujarat.

7031 Industrial explosives manufacturer Solar IndustriesBSE 2.43 % India has signed a pact with the Maharashtra government to set up a facility in Nagpur with an investment of Rs 1,550 crore to manufacture ammunition for armed forces. The memorandum of understanding (MoU) was formalised by the company through its 100 per cent subsidiary Economic Explosives during the ongoing Make in India week here. The project will come up in Nagpur, a relatively industry deficit area of the Vidarbha region, and will generate more than 700 direct jobs.

7030 Britannia will invest Rs 900 crore in setting up fresh manufacturing and research and development facilities over the next two years, in what will be its biggest single tranche of investments in a two-year time frame. "There's momentum in the business now...we are selling a million tonnes of products and are looking to scale up," said Varun Berry, managing director at Britannia Industries, a Wadia Group company.

7029 Ahead of the Railway Budget, the Cabinet Committee on Economic Affairs on Wednesday approved construction of six railway lines and a bridge to cater to both increased passenger and freight needs, for an estimated cost of Rs. 10,700 crore. “It will be financed through extra-budgetary resources,” Railway Minister Suresh Prabhu said after the meeting. The projects will be constructed using the Rs.1.5-lakh crore invested by Life Insurance Corporation in the Railways. The projects include doubling of three railway lines — the 190-km Hubbali-Chickajur line for Rs.1,294.13 crore; the 160-km Ramna-Singrauli line for Rs.2,675.64 crore; and the 261-km Katni-Singarauli section for Rs.2,084.90 crore. The CCEA also approved construction of an additional bridge and doubling of the Rampur Dumra-Tal-Rajendrapul sector in Bihar for Rs.1,700.24 crore Two projects for the construction of a third line — in the 132-km Wardha (Sewagram)-Ballarshah section, costing Rs.1,443.32 crore, and the 165-km Anuppur-Katni section in Madhya Pradesh, for Rs.1,595.76 crore — were also approved.

7028 The Centre's green panel has given clearance to Tamil Nadu Generation and Distribution Corporation (TANGEDCO) for setting up of a 2x800 MW thermal power plant in Ramanathapuram district, entailing an investment of Rs 12,664 crore. An Expert Appraisal Committee (EAC) under Union Environment Ministry discussed TANGEDCO's proposal in its recent meeting and recommended grant of coastal regulation zone ( CRZ) clearance subject to some conditions. The ministry will soon take a final view on the proposal. As per the proposal, TANGEDCO will establish a 2x800 MW capacity of imported coal based thermal power plant with super critical technology at Uppur, Valamavoor and Thiruppalaikudi villages in Ramanathapuram district.

7027 Anil Agarwal group company Vedanta has signed an agreement with the Odisha government to set up an aluminium park adjacent to its aluminium smelter at Jhasarguda. The company has a 1.6 million tonnes production capacity at the smelter. The proposed park, to come up on 240 acres, has the potential to attract investment of Rs.1,000 crore and generate direct and indirect employment to about 17,000 people. Abhijit Pati, CEO-Aluminium, Vedanta, told BusinessLine that the company would be able to sell aluminium in molten form to manufactures within the park, rather than supplying it in ingots or sheets, thus saving huge costs for both Vedanta and the manufacturers. It would also make the production of aluminium products cost-efficient. Units within the park can start production at short notice and Vedanta, with adequate smelting capacity and 3,600 MW of power generation, can assure uninterrupted supply at very competitive prices, he said.