Upcoming Projects in India

7026 Homegrown utility vehicle major Mahindra & Mahindra plans to invest Rs. 8,000 crore on its automotive plants in Maharashtra over the next seven years as part of its expansion plans. “The company plans to make an investment of Rs. 8,000 crore at the automotive plants in Maharashtra as part of its expansion plans,” Mahindra & Mahindra (M&M) today said in a regulatory filing. The investment will be made over a period of seven years and utilised towards infrastructure development, product development and capacity expansion for vehicles, it added. A Memorandum of Understanding (MoU) in this regard was signed between the company and the state government. Maharashtra Principal Secretary (Industries) Apurva Chandra and M&M Executive Director Pawan Goenka signed the deal in the presence state Chief Minister Devendra Fadnavis. M&M, which sells various popular vehicles in the country including Bolero, Scorpio and XUV500, currently has four automotive plants in Maharashtra at Chakan (Pune), Nashik, Kandivali and Igatpuri. Besides, it has two other automotive plants outside Maharashtra at Zaheerabad (Telangana) and Haridwar (Uttarakhand).

7025 Industrial realty and logistics parks developer, IndoSpace is planning to invest $1 billion in India over the next five years to take its total investment in the county to $1.75 billion. The company has already invested $750 million over the last seven years. The additional investment will increase its development pipeline from 20 million sq ft to 50 million sq ft, the company said in a release. "In addition to growth in consumption and e-commerce, we see India's great manufacturing potential being unlocked by the government's Make In India program. This requires world-class industrial and logistics real estate, and as pioneers and leaders in this asset class we will continue to invest aggressively," said Rajesh Jaggi, Managing Partner - Everstone Real Estate, and Co-CEO of IndoSpace.

7024 Realty firm TDI Infracorp Ltd has raised Rs 100 crore from L&T Finance to fund its ongoing township project at Panipat. TDI Infracorp had last month gave an exit to Kotak Realty Fund from its housing project in Sonepat by repaying a debt of Rs 110 crore. The company is building five townships, spread over an area of 2,480 acres, at Kundli, Panipat, Mohali, and Moradabad. "We have entered into financial partnership with leading NBFC player L&T Finance," TDI Infracorp Mananging Director Kamal Taneja

7023 Tyre maker Ceat will invest Rs 300 crore to set up a manufacturing facility in Maharashtra to primarily serve export market for off-road radial tyres. The company, which today reported 27.03 per cent increase in consolidated net profit at Rs 113.39 crore for the third quarter ended December 31, has already transfered its land in Ambernath, Maharashtra to its wholly-owned subsidiary Ceat Specialty Tyres Ltd (CSTL) to set up the plant. Besides, Ceat has made an equity investment of Rs 25 crore to CSTL.

7022 Diversified group ITC is looking to invest Rs. 800 crore in Odisha over the next few years to set up a hotel property and a food processing park in the state, a top official said today. “We are planning to invest Rs. 800 crore in Odisha for a hotel and a food processing park industry,” ITC Chairman and Managing Director Y C Deveshwar told PTI on the sidelines of the Make in India Week here. He said the hotel property will come up in Bhubaneshwar, while the food processing park details are being worked out. Nearly, Rs. 630 crore will be invested in the food processing park and the rest of the money will be invested in the hotel,

7021 Tata Steel SEZ today said it plans to invest about Rs. 2,000-2,500 crore for development of infrastructure at Gopalpur in Odisha in the near term. “We have already spent Rs. 1,000 crore to set up a 55,000 TPA high carbon ferro chrome plant and development of infrastructure. Going forward we will invest Rs. 2,000-2,500 crore for the development of further infrastructure in the SEZ,” Tata Steel Managing director T V Narendran told reporters on the sidelines of Make in India conference here. The SEZ, which is a 100 per cent subsidiary of Tata Steel, has received clearance from Odisha government for setting up an industrial park. “We got nearly 3,000 acres of land and Tata Steel is already (an) investor in the said unit by setting up ferro chrome plant, which is expected to be commissioned in the near future,

7020 Ashok Leyland is setting up truck and bus assembling units in Africa. The commercial vehicle manufacturer is in the process of setting up 2-3 units, one of them in Kenya. This is a part of its plan to strengthen its export markets. Gopal Mahadevan, CFO of Ashok Leyland, said it will spend about Rs30 crore on each of the assembling units. The truck and bus manufacturer is also looking at South-East Asia and South America for exports. The objective is to triple exports over the next 3-5 years from the present 10 per cent, he said. Ashok Leyland’s third quarter net profit was Rs.198 crore, about six times that of the comparable quarter in the previous year. This was possible due to a combination of efficiency increases, focus on customer satisfaction, and a mix of products – particularly in the medium and heavy commercial vehicle segments, he said.

7019 The Highway Ministry has approved 13 projects worth Rs.10,300 crore, for building 672 km of national highways. The projects will be awarded by March-end. The approval came at a meeting chaired by Sanjay Mitra, Secretary, Road Transport and Highways Ministry. The projects approved include part of the Kishangarh-Udaipur-Ahmedabad highway development project, which was awarded to GMR Infrastructure on a high premium and subsequently terminated. In this stretch, three will be awarded on a build-operate-transfer (Toll) basis, while one will be awarded on a hybrid annuity model. These would not require any further approvals from the public-private-partnership appraisal committee. Of the total projects, three are on build-operate-transfer-(toll) basis, three on hybrid annuity model and the remaining on engineering procurement contract. Till January 31, 7.000 km of highways were awarded and 4,600 km of highways were constructed. In a related move, the National Highways Authority of India Chairman Raghav Chandra, while inaugurating the NHAI day, said that the Authority is readying to implement electronic toll collection, which will offer a discount of about 10 per cent in the first year, 7 per cent in second and 5 per cent in the third year onwards, to the users.

7018 Vedanta Group's owner Anil Agarwal is setting up the country's first LCD panel manufacturing plant in Maharashtra with an investment of $10 billion ( Rs 68,000 crore). The investment is through a new company called Twinstar Display Technologies, which is promoted by holding company Volcano Investments, chairman Agarwal said in an exclusive interview with ET. The metals tycoon is set to sign a memorandum of understanding with Maharashtra government on the first day of 'Make in India' week.

7017 Abu Dhabi wants to take a $5-billion bet on India, specifically its national highways. The Abu Dhabi Investment Authority (ADIA), a sovereign wealth fund of the emirate, has expressed interest in taking up 50 highway projects on a toll-operate-transfer (TOT) basis in what will be the first investment of its kind if it happens. A rough calculation by roads ministry pegs the value of total investment at Rs 35,000 crore ($5 billion). Under the TOT model, roads already built by the National Highways Authority of India ( NHAI) are awarded to the private sector in lieu of an upfront fee. The private party operates the national highway stretch and collects tolls on it for a long-term period.

7016 Indian Institute of Technology (IIT) Ropar has received a grant of Rs 5 crore to set up a technology business incubator in Punjab. The incubator will provide mentoring, physical office space, library and equipment to young entrepreneurs, while the institute will provide networking and marketing support to incubatees apart from support to angel funding, IIT Ropar said in release. It said the grant amount would be utilised to contribute towards the Centre's Start-Up India programme over five years.

7015 Reliance Group Chairman Anil Ambani today announced setting up of a centre for research, development and innovation in aerospace technology. Speaking at the 'Invest Karnataka 2016' meet here, Ambani said the proposed centre, to be set up under Reliance Defence, will generate more than 1,500 highly skilled jobs and support government's plan for indigenous design, development and manufacturing of defence equipments. Reliance Group, he said has so far invested nearly Rs 5,000 crore in Karnataka across a wide array of sectors, from telecom to energy to entertainment to financial services and now defence, and created nearly 5,000 jobs. "But we are ready for much more. And I am here today to make a big commitment in that direction by announcing Dhirubhai Ambani Centre for Innovation and Research in Aerospace," he said. "We are proposing to set up a Global Centre of Aerospace Excellence here in Whitefield, Bengaluru." Stating that Fifth Generation Fighter Aircraft and Sixth Generation technologies are already finding applications, he said the centre, the first-ever of its kind in the private sector in India, will be a world class facility for research, development and innovation in aerospace technology.

7014 Mother Dairy Fruit & Vegetable Pvt., a major supplier of dairy products in the National Capital Region, will invest Rs 75.65 crore to set up its first integrated processing plant in eastern India. The 25,000 metric tonne per year plant will come up in Ranchi, Jharkhand. The first phase consisting of the freezing line is expected to be ready by December, while the pulp and concentrate processing line will be operational a year later. "Jharkhand has immense potential for processing of various fruits and vegetables," said S Nagarajan, managing director of Mother Dairy. "Through this state-of-the-art facility, we will strive to explore better opportunities for almost 50,000 farmers and their produce."

7013 Karmaveer Shankarrao Kale is planning to set up a 16 MW co-generation at its sugar mill in Ahmadnagar district of Maharashtra. As of February 2016, waiting for environment clearance.

7012 Gujarat Industries Power Company Ltd has informed BSE that the Company has issued Letter of intent (Lol) dtd. December 31, 2015 to Inox Wind Ltd., Noida, U.P. State, For installation of 26 MW Wind Energy Farm Project at Rojmal Site, Dist: Amreli, Gujarat, on EPC basis, with Operation & Maintenance Contract for twenty years. The said Wind Energy Farm Project is scheduled to be completed by December, 2016.

7011 Camex Limited expands its business by setting up a New Plastic Chemicals Plants at GIDC Ankleshwar. The New Plan have initial manufacturing capacity of 5000 MT P.A. The company already earmarked an investment of 100 million rupee for New Venture. The first phase would be operational from March 2016. The expansion will take advantages of the synergies of its existing skills in chemical Manufacturing, Distributing & marketing and contribute positively to the company's future earnings, In long term the company hopes to become one of the leading players in textile and plastic chemical.

7010 The Bihar government on Tuesday approved a Rs.16,960 crore metro rail project for capital Patna, joining a list of states looking to fix commuting woes with rapid mass transit solutions. The metro will initially run from Saguna More to Patna Junction, covering 27 stations in the first phase. Planned as a public-private partnership, (PPP) the project will have three phases. In the first phase, it will complete North-South and East-West corridors.

7009 Neyveli Lignite Corporation (NLC) has invited bids from international firms for setting up solar power projects having total capacity of 260 MW in Tamil Nadu and Rajasthan. "Bids...Are invited by NLC, Neyveli for setting up of four blocks of Grid Interactive Solar PV Power Project of 65 MW AC capacity each (2 blocks in Neyveli, Tamil Nadu and 2 blocks in Barsingsar, Rajasthan)," the company said. The scope of work for each block includes design, engineering, manufacture, operation and maintenance for five years including one year warranty period, it said. According to the company's website, it is setting up a 25 MW Barsingsar Solar PV Project at a cost of Rs 167.29 crore.

7008 he Airport Authority of India will generate 100 megawatt power from solar energy to light up the under-construction Ajmer airport at Kishangarh. In this regard, the AAI's technical team recently earmarked an area to install the solar cell plates recently. "The solar electricity generated will be given to the Ajmer Vidyut Vitran Nigam Limited which in turn will provide it to the Ajmer airport," said BK Tailang, airport director, Jaipur, who is incharge of the Ajmer airport. he electricity produced here would be sufficient to run the airport initially. A technical team has inspected the area and found it suitable to install a solar plant. Meanwhile, considering the scarcity of water in Kishangarh area, the AAI is building a water harvesting system. TNN "The new airport will witness some 'experiments' to ensure that it produces its own resources," said Tailang. The authorities have roped in IIT-Bombay for developing a modern sewage treatment plant for re-use of water.

7007 Sembcorp Green Infra Ltd. will set up a 1,000 MW wind energy plant in western Madhya Pradesh under a memorandum of understanding (MoU) with the state government, Chief Minister Shivraj Singh Chauhan said on Friday. Sembcorp Green Infra, a subsidiary of Singapore-based Sembcorp Industries Ltd., is a result of parent company's acquisition of renewable energy firm Green Infra Ltd. in February 2015. The company has over 1,000 MW in solar and wind energy generation capacity. The MoU was signed between Sembcorp and the Madhya Pradesh government's renewable energy department during Chauhan's visit to Singapore from January 12 to 15.

7006 Britannia Industries is gearing up for a full-fledged play in the estimated Rs 85,000-crore Indian dairy market as part of its overall strategy to be a total food company. The company will seek board approval within a couple of months for its expansion in the dairy segment, which could entail a minimum investment of Rs 300 crore in the initial phase. "We want to be a total food company and to do so, we can't ignore the large dairy segment. The dairy segment in India is almost Rs 85,000 crore," Britannia Industries Managing Director Varun Berry said. Elaborating on why it made sense to be a full-fledged player in the dairy segment, he said: "We sell dairy products worth Rs 400 crore and for our bakery business we buy dairy products worth Rs 300 crore. Overall, the consumption and sales is almost Rs 700 crore, which is a fairly large number."

7005 Cigarettes to consumer goods major ITC Ltd on Wednesday unveiled three major projects in West Bengal, where it is headquartered, which could mean an investment of nearly Rs 3,000 crore. These projects involve two integrated consumer goods manufacturing facilities in Uluberia (400,000 sq ft) and Panchla (800,000 sq ft) and an information technology (IT) facility (2.7 million sq ft) in Rajarhat, near the state’s capital. Earlier, while appreciating West Bengal chief minister Mamata Banerjee’s endeavour to attract investment, ITC chairman Y C Deveshwar had planned a total investment of Rs 4,500 crore, which included developing a 500-room hotel here. Production of agricultural commodities from its plant in Uluberia is poised to start from May, while the other agro-processing unit in Panchla will commence operations by March 2017. The IT park, which includes a 140-key hotel and residential accommodation, will be completed in phases beginning 2018.

7003 The Centre will build a 900 km road for the four Himalayan shrines of Uttarakhand also known as chardham, Union Minister Road Transport, Highways and Shipping Minister Nitin Gadkari today said. Making the announcement after laying the foundation stone of the 93-km Rampur-Rudrapur-Kathgodam four lane highway here Gadkari said Prime Minister Narendra Modi will himself visit the state to lay the foundation stone of the ambitious project which will make the route to the famed Himalayan shrines of Kedarnath, Badrinath, Gangotri and Yamunotri far more convenient Announcing that the Rampur-Rudrapur-Kathgodam four lane highway will be built on expressway pattern, Gadkari said farmers whose land will be acquired for the project will be paid a compensation four times higher than the prevailing circle rate. Expressing concern at the spurt in road accidents in Uttarakhand, the Union Minister said there will be fewer mishaps with better roads and the Centre is working in that direction. Gadkari said the Centre also has plans to make a 100-km road in the Gunji zone in Pithoragarh district to make the Mansarovar Yatra more smooth.

7002 Switzerland-headquartered Ferring Pharma has proposed to invest between $100 and $250 million in setting up a facility in the upcoming Pharma City on the outskirts of Hyderabad. In their meeting with the Telangana State Chief Minister, K Chandrasekhara Rao today, its CMD, Frederik Paulsen and India Head, Ashok Alate said they are a research and development company and would like to concentrate in Telangana. The €1.5 billion turnover Ferring Pharma has 9 plants worldwide in countries like Argentina, china, Czech Republic, Denmark, Germany, Israel, Mexico, Scotland and Switzerland besides 9 more R&D Units in other countries. They have two plants in Maharashtra. During the discussions, they assured `Zero discharge’ with complete treatment facilities within the premises. No toxic chemicals would be used in their unit and theirs would be the safest drugs and are useful as life saving medicines in super speciality Hospitals. The CM said that the Government proposes to establish a Pharma University in addition to the Pharma City. A study was being done as to how pharma production is managed in Scandinavia, European countries and United States to adopt the best practices. CM also mentioned that the proposed pharma city will have separate townships and common treatment plant.

7001 To strengthen the aviation sector in Gujarat, the state government has planned to set up the country's first-ever Aviation Park here having a slew of facilities including an airstrip, training school, helipad and space for setting up small manufacturing units among others. According to officials of government-owned Gujarat State Aviation Infrastructure Company Ltd (GUJSAIL), this integrated park aims to raise the awareness about the potential of the aviation sector among students, professionals, policy makers and business entities.

7000 Cognizant Technologies Services Pvt Ltd has sought government approval to set up a special economic zone (SEZ) in Telangana. The Board of Approval (BoA), headed by Commerce Secretary Rita Teaotia, will consider the application at its meeting on February 23. Cognizant has proposed to set up in Ranga Reddy district of Telangana, an IT/ITeS SEZ over an area of 2.51 hectares.

6999 In a bid to strengthen its position in the e-commerce market, India Post has proposed to invest Rs 322 crore till 2019-20 to augment parcel handling capacity through which it projects to earn a revenue of Rs 1,608 crore. An official in the Department of Post told PTI that with the current pace of growth in e-commerce segment, India Post would be handling 40 lakh parcels per month in the near future and the capacity needs to be augmented accordingly. "The Department is proposing to invest Rs 322 crore in the period from 2015-2016 to 2019-20 to augment and develop parcel handling capacities," the official said. He said India Post centres would be equipped with modern handling devices, conveyor belt and security systems to ensure faster and safe processing. He added volumetric measurement system will also be introduced to ensure revenue based on volume of the consignment having lesser weight but occupying larger space in tran-shipment. "With the proposed investments, the revenue projections from e-commerce in all segments is Rs 1,608 crore in five years," he said. "With the proposed investments, the revenue projections from e-commerce in all segments is Rs 1,608 crore in five years.

6998 Ikea, the world’s largest furniture retailer, plans to purchase land to build four stores in Karnataka, entailing a total investment of Rs.2,000 crore. The four stores will be opened in Bengaluru, the state capital, and each will cost Rs.500 crore, said Juvencio Maeztu, chief executive officer of Ikea India. K. Ratna Prabha, the additional secretary with the state’s industries department, confirmed on the sidelines of the Karnataka Investor Summit under way in Bengaluru that the Swedish retailer had expressed interest in buying land. Each Ikea store in Bengaluru will generate 500 local jobs and the company will reserve 50% of them for women, said Maeztu. An Ikea store requires seven to eight acres and takes about 12-18 months to build from scratch. Each store will also provide indirect employment to 1,500 people, taking the total number of job opportunities to 2,000.

6997 Electro Steel Castings is planning installation of 1x6 MVA & 1x9MVA submerged arc furnaces at Haldia, dist. East Midnapore,West Bengal. Consultant is appointed. The project is waiting forenvironmental clearance. According to MoEF sources, theestimated cost of the project is Rs. 500 million. The unit will produce 38,156 TPA ferro manganese or 27,109 TPA silico manganese or 10,421 TPA ferro silicon entailing installation ofsubmerged arc furnaces and material handling facility. Theplant is located adjacent to the existing site of the coke ovenplant at Haldia. The power requirement is 12.5 MW, which will be sourced partly from the captive power plant of the cokeoven plant of the company, operating in the adjacent land and partly from the supply system of WBSEDCL.

6996 The project is in primary stage of manufacturing of duplex board unit in Udhamsingh nagar Uttrakhand . This will be a new product line in the existing plant. Naini Tissues is a part of Naini group.

6995 Wonderla Holidays has signed an MoU with the Karnataka Government at the Invest Karnataka 2016 – global investors meet. The company has announced an investment of Rs. 150 crore in the next two years in Karnataka. An MoU to this effect was signed with Chairman of Karnataka Tourism Vision Group TV Mohandas Pai as part of project expansion and the company is planning to Invest Rs. 150 crore. The proposed year of commencement is said to be April 1, 2016, and is expected to generate 200 jobs by the time of completion in March 31, 2018.

6994 Aiana Hotels and Resorts, the new hospitality venture of Leela Hotels scion, Amruda Nair, has signed an MoU with Ferns Estates and Developers to manage and operate four, five-star luxury resorts in Karnataka for a duration of 10 years. The resorts will be developed by Ferns at an investment of Rs.400 crore excluding the cost of land, through internal accruals, over the next five years. Construction of the first full-service 100-keys resort located amidst 50 acres of coffee plantation in Sakleshpur district will begin in October and be completed in 2019. “We are following a hybrid business model for the resort, targeted at young leisure travellers from Bengaluru. The resort will comprise hundred 1/2/3 bedroom cottages, including 50 resort cottages and 50 branded residences. The residences will be sold under a fractional ownership model with single or multiple owners for each cottage and will serve as holiday homes for those interested in investing in an asset,” Amruda Nair, Joint Managing Director & CEO, Aiana Hotels & Resorts, told BusinessLine. Aiana Hotels is a joint venture company between Nair and Sheikh Faisal Bin Qassim Al Thani, Chairman of Qatar-headquartered diversified industry group, Al Faisal Holding.

6993 DataWind Innovations, the Indian arm of Toronto Stock Exchange-listed low-cost mobile devices maker, DataWind Inc, is in the process of setting up a manufacturing facility in Hyderabad. The investment would be to the tune of Rs 100 crore. A memorandum of understanding (MoU) to this effect was signed between the Telangana IT, electronics and communications department and DataWind today. The company proposes to use Rs 100 crore of the $27.41 million that it had raised via an initial public offering (IPO) on the Toronto Stock Exchange in June 2014, to invest in the Hyderabad facility. “The Hyderabad facility is expected to start production within 90 days, and will generate 500 direct jobs,” Suneet Singh Tuli, president and chief executive officer of DataWind,

6992 Smart School Tutor, which is an eLearning package containing curriculum mapped k-12 digital content supported by robust assessment software Examguru, is looking forward to opening 10,000 franchise operated stores in each and every state of India. Smart School Tutor, which is an eLearning package containing curriculum mapped k-12 digital content supported by robust assessment software Examguru, is looking forward to opening 10,000 franchise operated stores in each and every state of India. The brand also wants to set up 1000 company operated counters in Big Bazaar, Vishal Mega mart and other retail malls in every state. It intends to set up 1000 company-operated and 10,000 franchise stores within the next 24 months across each and every city of India.

6991 Tamil Nadu Chief Minister J Jayalalithaa has laid the foundation stone for a new 800 MW power project to be set up near here. In a statement issued here, the government said Jayalalithaa laid the foundation stone for the Rs.6,376 crore project on January 29. She also handed over Rs.2,759 crore order to power equipment giant Bharat Heavy ElectricalsLtd. to supply boiler, turbine, generator and also owards engineering, procurement and construction of the proposed power plant. The proposed power project will come up within the existing complex of the North Chennai Thermal Power Project where two power units are already functional.

6990 Khemka Containers Limited (KCL), a leading Paper Printing and Packaging company will set up a Rs. 100 crore unit in Sri City, Andhra Pradesh. The plant, to produce corrugated boxes, mono cartons and printed display items will come up on a 10 acres plot. It is expected to be completed by October and provide employment opportunity for about 200. KCL has four production units through which its serves almost the entire packaging requirements of MNCs and large Indian Companies in -- Food, Consumer Durables, Home Appliances, FMCG Products, Engineering Goods, Automotive Components, etc. Among its prominent clients are Cadbury, Pepsico, Tata, Godrej, Whirlpool etc. The Directors of the company Rajeev Khemka, Sanjay Khemka and Ashish Khemka performed the foundation stone laying ceremony on Sunday. Ravindranath Sannareddy, Managing Director, Sri City in a statement welcomed the latest industry to set base.

6989 Adani Group is all set to invest Rs. 21,000 crore in energy, ports and renewable energy sectors in Karnataka. Gautam Adani, founder chairman of Adani Group, speaking at the Invest Karnataka 2016 - global investors meet, said that the investment climate in the state has been very conducive across the sectors where the company has presence. Adani said: “We are investing Rs. 11,500 crore for increasing the capacity of Udupi Power Company from 1,200 MW to 1,600 MW. When this expansion happens, it will cater to 20 million households from current 9 million hourseholds.” The group is also commiting Rs. 500 crore for expanding its coal handling facilities in the state. “To give a thrust to our renerwable energy sector, we are also planning to enter solar power generation and we plan to invest Rs. 7,000 crore to set up a 1,000 MW of solar plant in Karnataka,” Adani said.

6988 Toshiba Transmission and Distribution (India) Pvt Ltd (TTDI) has lined up Rs. 200-crore investment at its global manufacturing facility here for expansion. It has just completed $30-million investment in the new production lines. Announcing this at a press conference here today, its Chairman and Managing Director, Katsutoshi Toda, said the new production lines were ready for full-scale operation. The production capacity of transformers was up by 50 per cent and the new production lines for new technology products will allow the company to meet the growing demand in India and globally. "TTDI will seek to expand its business through full-scale operations," Toda said.

6987 The Karnataka government has cleared Intel Technology India’s Rs. 1,100-crore proposal to set up ‘Computer Software Development/R&D/Hardware Design services’ facility in Bengaluru. The company's proposal was cleared by The State High Level Clearance Committee (SHLCC) chaired by the Chief Minister, Siddaramaiah, on Monday night. Intel’s project site is to come up at Devarabeesanahalli Outer Ring Road, Varthur Hobli, Bangalore South Taluk in Bangalore district. The company is planning to construct a new building in eight acres of KIADB allotted land. Currently, it is engaged in research, development, hardware design, testing/validation of computer hardware and software products for the next generation of information technology ecosystem. Intel is operating under 100 per cent export oriented unit (EOU) scheme registered with STPI. It has made significant investment in Karnataka in building the R&D labs

6986 TVS Srichakra Ltd is all set to expand its tyre manufacturing capacity at two of its plants — Madurai in Tamil Nadu and Pantnagar in Uttarakhand. The two and three-wheeler tyre major, which currently churns out 2.3 million units per month across both its plants, is functioning at full capacity and gearing up to ramp up and cater to the growing demand both from the original equipment manufacturers and after-market demand. “A decision on the expansion of both the plants along with the investments required will be finalised by February end. The company had increased its manufacturing capacity from 1.7 million tyres per month in 2012-13 to 2 mtpm in 2013-14 and again from 2 mtpm to 2.3 mtpm with the addition of 3,00,000 units per month in October last,” said P Vijayaraghavan, Director. In an interaction with BusinessLine, the industry veteran said: “TVS Tyres has become the largest supplier of tyres for two and three-wheelers in the country for the OEMs. With the company having over 3,000 strong dealer network, we are training attention on the after-market, where we are amongst the top three in the country. By augmenting fresh capacities, we would be able to further expand our presence in the after-market segment.” Apart from its supplies to OEMs and meeting the requirement in the after-market segment, the TVS Group company and part of the $8-billion (about Rs.50,000-crore company), also produces tyres for some marquee brands such as Michelin from a dedicated plant for the latter’s supplies. In addition, the company, which closed last financial year with a turnover of Rs.1,896 crore, is in the process of consolidating its exports.

6985 Carnival Group, which owns and operates Carnival multiplexes, said it will be investing Rs.300 crore to set up over 80 multiplexes in tier II and III cities. The company said it is focusing on the second rung cities to tap the latent demand for multi-screens in such cities. Shrikant Bhasi, Chairman, Carnival Group, told BusinessLine, “There is a dearth of quality entertainment in tier II and III cities. We are looking to add screens in cities which have little or no access to entertainment avenues.” “We have seen that in smaller cities in Madhya Pradesh people travel to Bhopal during the weekend to watch movies, shop and eat out. We are looking at such cities where there is a compelling need for quality entertainment. Our aim is replicate the city multiplex experience at a lower cost,” he added. He said the company will be adding new screens in cities with an average population of four-five lakh. Carnival Cinemas has presence in Kerala, Karnataka, Tamil Nadu, Maharashtra, Madhya Pradesh, Uttar Pradesh and West Bengal. The company runs about 460 multiplexes in 112 centres. Recently, it had acquired a mixed-use development project from engineering major Larsen & Toubro’s for a whopping Rs.1,785 crore. The Group had previously also bought out the Big Cinemas multiplex business of Anil Ambani’s Reliance Group for Rs.700 crore and Glitz Cinemas. It had also acquired Leela Infopark (Kochi) and Leela Technopark (Thiruvananthapuram) for Rs.142 crore. Earlier, it had acquired HDIL’s multiplexes business for Rs.110 crore. Bhasi said pricing will be a key to its expansion strategy. “We will be delivering a multiplex experience in the price of single screen. Our ticket prices will stand between Rs.65 and Rs.70.”

6984 City-based realtor Unimark Group has started work on its Rs. 320-crore and 135-apartment luxury residential project at one of the Kolkata’s most premium locations. Harsh Patodia, the Group Chairman, said on Tuesday that the project would be ready in the first quarter of 2019. “The project is located at the happening and covenant place in terms of connectivity of the metropolis,” he said. On a two-acre land on the Eastern Metropolitan Bypass, between ITC Sonar and JW Marriot, the project would have a built-up space of 4-lakh square feet. “It would have two-block single-tower structure of 38 levels. It would have three and four BHK apartments. The size of the apartments would range between 2,200 and 3, 500 sq ft. The price range would vary between Rs. 2.5 crore and Rs. 4 crore,”. Meant for the discerning rich, the project would have a separate banquet hall, spa, indoor game facilities, including squash court, swimming pools, private theatre, party lounge, discotheque, and rooftop gardens.

6983 ndian mining giant Adani's plan to build one of the world's largest coal mines in Australia moved closer to realisation today after the Queensland state gave environmental approval to the 16.5 billion dollars controversy-hit project but with about 140 conditions. Queensland state's Department of Environment and Heritage Protection (EHP) said it has issued a final environmental authority (EA) for Adani's Carmichael Mine project in the Galilee Basin. The project is located near the fragile Great Barrier Reef. The department said the conditions include nine provisions relating to the black-throated finch, an endangered species, as required by a court. In a relief to the Adani Group, an Australian court in December rejected a bid to stall the project by Conservation group Coast and Country, saying the firm can go ahead if it agrees to some environmental measures. The environmental group had contended that the mine would affect groundwater, climate change and biodiversity, including black-throated finches.

6982 Vatika Group, a diversified group with interests in real estate and hospitality, is looking to invest Rs 100 crore to open around 200 quick service restaurants (QSR) under the 'Nukkadwala' brand across the country by the end of 2019. Quoting Gaurav Bhalla, Group Managing Director of the Group, Press Trust of India (PTI), reported that the new brand will serve street food from all corners of the country reflecting regional diversity. "We plan to invest Rs 100 crore to open around 200 Nukkadwala restaurants in India by the end of 2019," said Bhalla. The brand is being launched first in Gurgaon to be followed by four locations in the National Capital Region, he added. "Deployment of state of the art technology at these restaurants would aim to enhance the guest experience, aid the operations and drive down the costs," Bhalla said. When asked how the company plans to raise the funds for investment in these outlets, Bhalla said: "It will be through internal accruals.

6981 Chief Minister Siddaramaiah on Monday said his government was planning to build a new road to the international airport at Devanahalli from Nagawara on the outer ring road. "This is going to be a dedicated road to the airport," he told a group of journalists. The government decision follows reports about the increased congestion on the existing expressway connecting the city with the airport. The government feels the time is ripe for the project. he Chief Minister also added that the airport will be connected with the metro network under the Namma Metro third phase. "The airport road project from Nagawara is also my pet project. It will also reduce the distance and travel time from city to airport," Chief Secretary Arvind Jadhav told ET. An exclusive metro link was not happening due to viability issues, he added. The government, however, is yet to give its nod to Nagawara-airport road project. It did not start work on this project earlier as the govern ment did not want the toll-road operator to object to another road being built. Now, with a substantial rise in traffic, the government feels the time has come to launch the project. he BDA, meanwhile, will open the tender for the seven-km six-lane elevated flyover project between Basaveshwara circle and Hebbal junction in about 10 days. The project is meant to facilitate seamless connectivity to airport from the city. "We have three lanes to airport, and two lanes from the airport. We will make the road from airport into four lanes," said PN Nayak, Engineer Member, BDA. The project will cost about Rs 1,350 crore and Siddaramaiah is keen to implement the project.

6980 Telecom services company Manana Innovations plans to invest Rs 500 crore to build its mobile services business in India and abroad over the next five years. "We are looking at international roaming business. In India, this market is estimated to be around Rs 18,000 crore. We are looking to capture five per cent of it i.e Rs 900 crore in two years and ten per cent in three years," Manana Innovations Founder and Director Chandan Ghosh told PTI. He said that the company sells SIM cards and provides mobile applications for voice calling. "We are going to apply for International Long Distance licence and internet service provider C class licence in India. This will enable us to integrate our global network with India. We will also go for other permits, if required, for operations," Ghosh said. The company is also planning to acquire a mobile virtual network operator in Europe within couple of months.

6979 The Lubrizol Corporation on Thursday opened a chlorinated polyvinyl chloride ( CPVC)compounding plant in Dahej, Gujarat, representing its global expansion of FlowGuard, BlazeMaster and Corzan compound manufacturing sites. The Rs 325 crore plant has a capacity to produce approximately 55,000 metric tons of compounds annually. The plant will serve the growing Indian market and support the emerging growth of its FlowGuard, BlazeMaster and Corzan businesses in South Asia, the Middle East and East Africa. "With construction projects in non-metro cities expected to continue to increase in India, and with the Central government aiming to build more smart cities, the demand for trustworthy piping systems is expected to rise," said Manoj Dhar, head of TempRite Engineered Polymers in South Asia.

6978 State-run Neyveli Lignite Corporation (NLC) has proposed setting up a 50 MW solar power plant at an estimated cost of about Rs 370.60 crore in Andaman and Nicobar Islands. "We propose to sign an MoU with the administration of Andaman and Nicobar Islands. The proposal is still under scrutiny," NLC Chief Engineer (Thermal) S Balasubramani Territory, the NLC has also proposed to install solar power plants in Tamil Nadu, Karnataka, Rajasthan, Kerala, Andhra Pradesh and Telangana with a total capacity of 4,000 MW

6977 BSE-listed hotel company EIH will spend Rs 325 crore over the next two years to completely renovate its 51-year iconic property, Oberoi Hotel, in New Delhi. The hotel will be closed for a two-year period beginning April 1, 2016 for renovation. It was the first hotel to be built by M S Oberoi, founder of The Oberoi Group. The 283-room hotel on Delhi's Dr Zakir Hussain Marg contributed Rs 187 crore or 14 per cent to the company's annual revenue of Rs 1,341 crore in the year ended March 31, 2015. The company posted a net profit of Rs 96.63 crore during the year. "The Oberoi, New Delhi, has a gross operating profit of approximately Rs 65 crore. To this extent, EIH's profitability will be impacted during the renovation. We will make every effort to open the hotel before April 1, 2018. We are confident the hotel will be far more profitable when it reopens driven by both a higher average room rate and occupancy," said a company spokesperson in response to queries.

6976 Grasim Industries is engaged in manufacturing of Viscose Staple Fibre (VSF) -- used in apparels - and cement, which account for over 90 percent of its revenues. The firm clocked a turnover of around Rs 32,838 crore in the 2014-15 fiscal. Aditya Birla Group firm Grasim Industries will spend more than Rs 4,000 crore on capacity expansion of its various businesses - cement, chemicals and VSF - in the coming financial year. Grasim Industries is engaged in manufacturing of Viscose Staple Fibre (VSF) -- used in apparels - and cement, which account for over 90 percent of its revenues. The firm clocked a turnover of around Rs 32,838 crore in the 2014-15 fiscal. While the company will invest Rs 3,800 crore on capex in the 2016-17 fiscal on its subsidiary, cement maker Ultratech, it will pour in Rs 255 crore in its VSF and chemicals business during the same period. The company had earmarked Rs 2,140 crore for Ultratech in this fiscal, of which Rs 1,630 crore was spent during the April-December period on capacity expansion, logistic infrastructure, modernisation, upgradation and its ready mixed concrete business. On the VSF and chemicals business, the firm had earmarked Rs 450 crore for 2015-16 fiscal, of which it spent Rs 310 crore in the first nine months of the financial year, it said in a regulatory filing. The firm said it will spend a total of Rs 4,055 crore on capex in fiscal 2016-17 onward against 2,590 crore in 2015-16 and Rs 6,645 crore till March 2015