Upcoming Projects in India

5244 The AdityaBirlaNuvo Ltd plans to have around 16 luxury lifestyle outlets, The Collectives, in around two years time. The company will come up with stores in Hyderabad, Kolkata, National Capital Region and one more in Mumbai. The store vends apparel - formal, semi-formal, casual and denim - brands like Armani Collezioni, Versace Collection, Hugo Boss, True Religion, Vivienne Westwood, Lagerfeld and Richard James and more. Each store would involve an investment of around Rs.7 crore (Rs.5 crore for capital expenditure and Rs.2 crore for working capital).

5243 Under the Jawaharlal Nehru National Solar Mission (JNNSM), out of a total of 159 grid-connected projects with 1,152 mw, 132 projects of 627 mw capacity have been commissioned within their scheduled commissioning date (SCOD). Installation of five projects with 32 MW Solar pv projects and 6 projects with 420 mw thermal projects have been delayed beyond initially specified time limit with payment of penalties

5242 The Jaipur Development Authority (JDA) will start repair work of damaged city roads from mid-September. The JDA has identified 124 important roads that will be repaired in phase -I. work order of Rs 500 crore has also been issued to contractors. The JDA had established a maintenance cell and funds for swift redressed of public grievances, including road repairing, have been released.

5241 The third phase of land acquisition process for the proposed International airport has begun. In the third phase, a total of 783 acres of land needed be to be acquired and for these Rs 310 crore was required. All steps had been taken to avail loan at a lesser interest for acquiring the land. Government wants to complete all process with regard to the airport before September 30 and begin the runway construction work in October.

5240 The government has approved a raft of infrastructure projects worth Rs 1.83 lakh crore. The Cabinet Committee on Investment (CCI) cleared hurdles faced by 18 power projects, and a similar number of projects in road, railways and petroleum. The projects which will get coal include Adani Group's Maharashtra plant, GMR's 1,400 MW Kamalanga unit in Dhenkanal district of Odisha, Lanco's Badandh power plant in Odisha and Talwani Power of Punjab. Projects like Reliance Power's 4,000 MW ultra mega power project at Sasan in Madhya Pradesh, L&T's Metro Rail project in Hyderabad, Hindalco Industries project and Essar Power's Jharkhand project also get clearance. All the necessary approvals for the L&T Metro Rail project have been granted. The matter of Essar Power Jharkhand's 1,800 MW thermal plant is likely to be resolved

5239 Hardcastle Restaurants, plans to invest up to Rs 300 crore to add at least 75 outlets of the American fast food chain by FY15. Hardcastle Restaurants vice-chairman Amit Jatia said, we invest Rs 2.5-3 crore in a restaurant. We are building 75 to 100 restaurants so that is anywhere between 250 to 300 crore, just on capex alone. So we are thinking of investing Rs 300 crore over the next two years”. Hardcastle Restaurants is the master franchisee for west and south India operations of McDonald's Restaurants and is a direct subsidiary of Westlife Development

5238 Apollo Hospital entered into partnership pact with New York based University of Rochester Medical Centre, envisaging patient care and academic association. Under the agreement the two institutions Apollo Hospital’s under-graduate medical college and Rochester University will have faculty and student exchange programme. The University of Rochester will provide its expertise in designing special curriculum, which will be taught in addition to the syllabus prescribed by the Medical Council of India.

5237 Prabhat Dairy Pvt Ltd will raise Rs 140 crore from India Agribusiness Fund, a private equity fund sponsored by Rabobank and France's Proparco. The dairy company supplies dairy-based food ingredients to multinationals and leading Indian food and beverage companies will use the proceeds to set up a new manufacturing facility in the Mumbai suburbs.

5236 Apollo Hospitals eyeing on expansion plans for overseas markets and considering setting up hospitals in Indonesia, Rwanda and Sri Lanka soon. Before setting up these hospitals, it will start tele-medicine centres and clinics in these countries. The group already runs hospitals in Dhaka and Mauritius and a super speciality hospital will be commencing operations in Tanzania in four months.

5235 Reliance Capital Is Investing Rs 100 Crore In A Wind Energy Joint Venture In The Country, Partnering With China’s Ming Yang Wind Power Group. Ming Yang Entered Into An Agreement With Reliance Capital Last Year To Establish A Joint Venture By Subscribing To A Significant Stake In The Share Capital Of Global Wind Power Ltd (GWPL). Ming Yang Had Also Signed A Memorandum Of Understanding (Mou) With Reliance Power To Co-Develop A Large Portfolio Of Clean Energy Projects In India. The Chinese Firm, Ming Yang Wind Power Group Limited Is One Of The Wind Turbine Manufacturers Worldwide. Reliance Capital Limited Is A Financial Services Company And Part Of A Reliance Anil Dhirubhai Ambani Group

5234 The Government Of India Has Formulated A Perspective Plan For Development Of The Maritime Sector, Namely, “The Maritime Agenda 2010-2020”. This Plan Has Estimated The Traffic Projections And Capacity Additions At The Ports Up To The Year 2020. The Government Has Decided To Develop Two New Major Ports With Private Participation Under The Public Private Partnership (PPP) Mode, One At Dugarajapatnam In Andhra Pradesh And The Other At Sagar Island In West Bengal. In The Year 2013-14, Rs.1.00 Crore Has Been Allocated At Budget Estimate Stage For Research And Development Study Of Major Ports. The Process Of Development Of These New Ports Has Been Initiated.

5233 Empee Distilleries Ltd. Has Entered Into An Agreement With Bangalore Based United Spirits Ltd For Manufacture Of Indian Made Foreign Liquor (IMFL) For Distribution In Karnataka. The Agreement Entered With United Spirits Ltd Will Initially Be For A Period Of Three Years. The Manufacturing Will Be Undertaken At Its Unit In Arabhikothanur Village, Kolar District, Karnataka And Will Improve The Top Line And Bottom Line Growth Of The Company.

5232 Five Central Public Sector Undertakings (Cpsus) Are Planning To Set Up A Solar Power Project At Sambhar In Rajasthan. These Five Companies Are, BHEL, Power Grid Corporation, Satluj Jal Vidyut Nigam, Solar Energy Corporation, And Hindustan Salts - Will Set Up The Plant With A Total Capacity Of 4,000 MW, On Land Belonging To Hindustan Salt In The State. The Operation And Management Contract For This Project Is To Be Awarded To Rajasthan Electronics And Instruments. The Project Is Expected To Be Commissioned In Three Years. The Cpsus Will Shortly Seek An Approval From Union Cabinet To Set Up A Special Purpose Vehicle For The Development Of The Project.

5231 Food Services Firm Jubilant Foodworks Ltd. Plans Open Up To 100 Outlets Of Dunkin’ Donut Outlets In The Next Four Years To Grow The Brand In India. For Dunkin’ Donuts, The Company Would Start Opening Outlets In The Western Region. At Present, All Of Its Outlets Are Concentrated In The North India. The Company Plans To Open 125 Dominos Outlets And 18 Dunkin’ Donut Outlets With An Estimated Investment Of Rs 250 Crore In The Current Fiscal. Jubilant Foodworks Ltd. Is A Part Of The Jubilant Bhartia Group, Which Holds The Master Franchise For Domino's Pizza In India, Nepal, Sri Lanka And Bangladesh, And Also For Dunkin' Donuts In India.

5230 Daikin India Will Invest Rs 330 Crore In The Current Financial Year To Double Its Production Capacity For Room Air Conditioners In The Country. The Company Has A Manufacturing Capacity Of Half Million Units Per Annum Of Room Air Conditioners At Its Plant In Neemrana In Rajasthan. The Company, Which Recently Started Exporting To Nepal And Sri Lanka, Is Looking At Expanding Its Export Base And Establishing India As An Export Hub For Daikin. The Company Will Enhance Its Distribution Network By Adding 46 More Standalone Stores And 400 More Dealers To Its Distribution Network. Daikin Industries, Ltd. Is A Japanese Multinational Air Conditioner Manufacturing Company Headquartered In Osaka

5229 Human Resource Development Ministry Has Sanctioned Setting Up Of 24 New Engineering Colleges In Tamil Nadu For The Current Academic Year. The Process For Grant Of Approval For 2014-15 Has Not Been Started Yet. All The Engineering Colleges Are Affiliated To Universities In The State.

5228 Amidst Higher Unemployment And A Contracting Labour Force In The Financial Services Industry In The US And UK, CFA Institute, The Global Association Of Investment Professionals, Is Betting Big On Emerging Markets Like India For Its CFA And Claritas Programmes. The Institute Is Looking At Launching Its Operations In India To Engage And Build Awareness With The Government, Policy Makers And Key Decision Makers. CFA Expects India To Lead The Adoption Of Claritas, Its Global Examination Programme Launched In May This Year.

5227 Major Power Projects Are Likely To Be Set Up In Kerala To Boost The Gas-Based Power Production Of The State. The Kerala State Electricity Board (KSEB), Will Set Up A 400 MW LNG-Based Power Plant At Brahmapuram Near Kochi With A Total Investment Of Rs 3,200 Crore. KSEB Is Likely To Refloat Bids For Selecting A Consultant To Perform Environmental Impact Assessment (EIA) For The Project. Apart Of This, The State Government Is Planning To Set Up A Gas-Based Power Project At Cheemeni In The Northern Kasargod District With Private Participation To Generate 1,100-1,200 MW Of Electricity. The State Has Identified 200 Acre In Cheemeni Village For The Project

5226 Bharat Sanchar Nigam Limited (BSNL) and the Universal Services Obligation Fund (USOF) are to sign a MoU by the end of this month for setting up mobile towers in states affected by naxal violence. The USOF was created under the National Telecom Policy, 1999, for providing access of telecom services to people in rural areas at affordable prices. The telecom authority has already floated a notice inviting tender for setting up 1,315 sites of 2G GSM network in left-wing extremist areas of Bihar, Jharkhand, Orissa and West Bengal for five years, which is extendable by two year. The first phase towers would be installed in proximity with security force establishments

5225 The Noida Authority has sent an estimate of Rs 115 crore for a proposed underpass at the crossroads of the highway to IIT-Delhi for vetting. The approval from IIT-Delhi is expected to come through by September 15, after which the tender proceedings for the underpass will be initiated. The authority's Technical and Audit Cell (TAC) has already conducted a detailed study of the proposed project and its estimated cost. Construction is expected to commence in November after a developer is selected through e-tendering. The proposed underpass and the cloverleaves will streamline traffic movement from Noida to NH-24 via Sector-62 and between Delhi and Ghaziabad. As per the plan, the left and right turns at the T-point of the road connecting Sectors-62 and 63 with the NH-24 will be widened to three lanes instead of two.

5224 Maruti Suzuki will set up its Research & Development Centre at Rohtak, Haryana. The facility is spread over an area of 600 acres. Maruti Suzuki is expected to invest in the range of Rs 2,000 crore to Rs 2,400 crore to set up this world class R&D facility. The R&D centre at Rohtak will be equipped with latest R&D infrastructure and world class test tracks. The company is planning to set up various facilities, including testing for emission and safety at the Rohtak centre. Last month, MSI had announced an additional investment of Rs 900 crore at the Rohtak R&D facility by 2014 over and above the Rs 1,500 crore that has been invested on setting up of a test track.

5223 Tata Group firm Indian Hotels will open 19 new properties under 'The Gateway Hotels and Resorts' brand in four years as part of its expansion plans. The new hotels will come up at Kolkata, Raipur, Pune, Hyderabad, NCR, Corbett Park, Bangaluru and Gondia in Maharashtra, among others. The investment plan for new hotels is undisclosed. The Gateway Hotels and Resorts are upscale full service hotels and resorts and are five star properties. The Indian Hotels Company (IHCL) and its subsidiaries, collectively known as Taj Hotels Resorts and Palaces, is one of Asia's largest and finest group of hotels.

5222 The Indian Oil Corporation (IOC) has signed a memorandum of understanding (MoU) with the State Infrastructure and Industrial Development Corporation of Uttarakhand Ltd (SIDCUL) and the Uttarakhand government for the development of natural gas infrastructure and makes joint bids for gas distribution. Under the MoU, IndianOil and Uttarakhand government will jointly prepare an action plan on expanding natural gas and renewable energy infrastructure in Uttarakhand.

5221 United Bank of India plans to open 1,000 ATMs and about 250 branches in the current fiscal. United Bank of India Chairperson and Managing Director Archana Bhargava said in a press release, "We intend to open 1,000 ATMs and 270 branches during the financial year,". The Bank did not disclose amount which has been sought from the government.

5220 In a bid to promote oil palm cultivation, Ruchi Soya, leading FMCG firm planning to set up a processing plant in Odisha at a cost of Rs 30 crore. Under a tripartite agreement with Odisha government and farmers, Ruchi Soya has exclusive rights to procure Fresh Fruit Bunches (FFB) of oil palm from farmers. The company will initially set up 10 tonnes per hour FFB processing mill. Ruchi Soya is India's largest manufacturer of edible oil.

5219 Tanishq aims to expand its footprint in eastern India, comprising Odisha, West Bengal, northeastern states and Jharkhand with opening of more number of outlets. Tanishq has 153 exclusive boutiques in 86 cities across the country, making it India's first and largest jewellery retail showroom chain. Recently the company has opened its fifth showroom in the state and 24 in the eastern region at Berhampur in south Odisha. Tanishq Is A Prominent Jewellery Brand Of India. It Is A Division Of Titan Industries Limited, A Company Promoted By The Tata Group.

5218 Fitness First will invest up to Rs 160 crore over five years to open 30 health clubs in India. The fitness company is looking at Delhi, Mumbai and Bangalore to open the new ones. The company will continue to focus on three cities for the next three years. It will look at expanding the footprint to other parts of the country later. The company will open five clubs by the end of October 2014, with an investment of Rs 40 crore. First Fitness India is a fully owned subsidiary of the UK parent. All Fitness First health clubs are company-owned and operated.

5217 In an attempt to accelerate big-ticket investment in the infrastructure sector, a ministerial panel is expected to clear bottlenecks in installation of 28 power projects involving investment of around Rs 174,000 crore. The projects include 18 power plants worth around Rs 82,000 crore which are stuck owing to lack of Fuel Supply Agreements (FSAs). The Cabinet Committee on Investment (CCI) is expected to direct the coal ministry to commit that FSAs for these power plants would be signed by August 31. The ministerial panel will also take up another 10 power projects, in which investments worth Rs 92,000 crore has been stuck for various reasons including pending coal linkages and environment clearances.

5216 The domestic scheduled commercial banks plan to open 2,361 brick and mortar branches in Odisha during 2013-15. General permission has been granted to domestic scheduled commercial banks (other than regional rural banks) to open branches, in tier-2 to tier-6 centers which include rural centers and tribal areas, and rural, semi urban and urban centers of the northeastern states and Sikkim. The highest numbers of 408 branches of different banks were functioning in Khurda district while Malkanagiri came at the bottom of the list with only 28 branches. In Ganjam district, 290 branches are functioning, while the figure for Cuttack district is 263

5215 Mumbai citizens are going to avail five main transport facilities soon. These five transport projects includes, the Mumbai metro, Mumbai Monorail , Eastern Freeway, Santacruz -Chembur Link road, and the Sahar Elevated access road will be develop soon. These projects are taken up by the Mumbai Metropolitan Region Development Authority (MMRDA). Mumbai Metro project is handled by Anil Dhirubhai Ambani Group’s Reliance Infrastructure along with MMRDA. Project will be divided into 8 rail lines which will cover a total length of approx. 146 k.m. The Mumbai Metro will be built in three phases, and the total cost involved is Rs.36000 crore. The metro project is expected to be complete in 2021, the first line starting its operations in October 2013. The monorail project will cost around Rs. 202 billion, the complete network of 135 km and 8 lines, built in different phases. The Eastern Freeway project, highly beneficial infrastructure project is slated to be made at a cost of around Rs. 8.88 billion. The Santacruz - Chembur Link Road, is under the World Bank-funded Mumbai Urban Transport Project (MUTP) and is being constructed at a cost of Rs. 435 crore. And the Sahar Elevated Access Road will cost Rs. 570 crore and will be funded by the Central Government, the government of Maharashtra, the MMRDA and Mumbai International Airport Limited. The work on Sahar Elevated Road has been delayed by a year is now expected to open to the public by the end of 2013.

5214 The commissioning of the 210 MW capacity Tuivai hydro-electric project in Mizoram, would begin soon as the union finance ministry has approved funds for it. The biggest ever power project in Mizoram would be set up at a cost of Rs.1,750.60 crore on the banks of Tuivai river in Champhai district in the eastern part of the state. The project would be executed on the public-private partnership (PPP) mode. The Mizoram government, the Tuivai project, conceptualised in 1995, will have a 155-metre dam across the Tuivai River to generate power. The power project will be commissioned within the next five years, would be the first of any projects in Mizoram requiring no compensation for takeover of land. The Mizoram government is also setting up another 60 MW-capacity Tuirial hydro-electric project at Bilkhawtlir village in Kolosib district, at a cost of Rs.900 crore

5213 Yes Bank has entered into partnership with South Asias premier express air and integrated transportation and Distribution Company. Blue Dart in order to revolutionize door step payments which is the first of its kind in India. Yes Bank - MPOS is a first of its kind is payment mechanism that uses mobile device based GPRS connectivity to facilitate debit/credit card payments. The bank has simplified the e-Commerce, Cash on Delivery platform through its Mobile Point of Sales (MPOS) mechanism.

5212 HDFC Bank plans to open 500 mini branches, manned by one to three people, on a pan-India basis by the end of this financial year. A mini branch comprising of one, two or three persons, offer the entire range of products and services including savings and current accounts, fixed deposits, recurring deposits, credit card, instant debit card and also ATM facility. The approximate size of such a branch is 250-350 square feet and each unit is set up at an investment of Rs 7.5 - 8 lakh.

5211 National Aluminium Company Limited (NALCO), has signed a long term fuel supply agreement with Mahanadi Coalfield Limited (MCL). Under the agreement MCL will supply 47.16 lakh tonne of coal to NALCOs captive power plant at Angul and 8,73,324 tonne of coal for its steam cum power generation plant, at Damanjodi. It’s a five year agreement.

5210 Delhi Jal Board decided to carry out a number of infrastructure development projects across the city. These development projects include, laying of new water distribution lines, construction of underground water reservoirs and replacement of old pipelines. The projects are being taken up to ensure equitable distribution of water and improve operational efficiency of the DJB. The board meeting approved several projects for laying sewer network in 60 unauthorised colonies. The board approved construction of a 6 million litre capacity underground reservoir at Mahipalpur at an estimated cost of Rs 18.01 crore. The board also gave approvals to Construction of 12.04 million litre capacity underground reservoirs at Mayapuri along laying of pipelines at an approximate cost of Rs 32.46 crore and a project to improve water distribution network at Shastri Nagar and Patel Nagar at a total cost of Rs 16.56 crore. The 800 mm diametre Okhla Main pipeline will also be replaced from the Barapulla Nallah upto the Okhla Water Treatment Plant at a total estimated cost Rs 107.09 crore.

5209 Government plans to set up 4,000 mw of solar thermal power capacity in Rajasthan. This facility will be largest solar Thermal Park in the world. "It will be commissioned in phases. The first phase would be of 1,000 mw. This would be the first such solar thermal power park in the country. The only solar park in the country is based in Gujarat with a current capacity of 214 mw and is expected to generate 500 mw when fully commissioned in 2014. Rajasthan currently has 660 mw of solar power generation capacity and 2,700 mw of wind power.

5208 Public works department (PWD) has sent a proposal for the reconstruction of Kalpi Road (National Highway -25) in between JaribChauky and Vijay Nagar Crossing to its headquarter. The project will cover the construction of a six-lane road along with a divider, with cost Rs 8.56 crore. Historic Kalpi Road connects Kanpur to Jhansi and is a part of the National Highway -25. At present the condition of the road inside the city is very bad. According to project proposal, the construction of road would be finished by the end of this year.

5207 The Government of India has granted "in-principle" approval for setting up of a Greenfield airport at Kannur in Kerala. The project is to be implemented on Build Own and Operate (BOO) model. Ministry of Environment & Forest has granted necessary environment clearance to the project. The project is at Request for Proposal (RFP) stage for awarding the contract for airside works. As per the schedule of bidding process, the contract is to be awarded by the end of September, 2013

5206 Indian Oil Corporation is moving forward with its Rs 4,500 crore LNG terminal project in Tamil Nadu to supply piped gas in the southern region. The company would soon "float tenders" for it. The oil company has signed an agreement last year with Tamil Nadu Industrial Development Corporation to set up the Rs 4,500 crore liquefied natural gas terminal in Chennai. The project expected to be completed by 2016-17. IOC Chairman R.S. Butola said, “Whether we select a partner (LNG supplier) now or later, we are going ahead with the construction. Some of the bids are out. we will appoint the contractors for tanks and jetties etc.,”

5205 Welspun Energy has commissioned Asia's largest solar project, with a generation capacity of 55 mw in the Jodhpur district of Rajasthan. The project can 2.5 lakh homes and can reduce carbon emissions by 83,220 tonne annually. The project located near Phalodi in Jodhpur district, has been developed in three phases of 15, 15 and 20 mw. The company has not manifested the cost of the project. The project is also the largest solar PV power plant in the country apart from being the largest in Asia in terms in a single location. The power generated from project will be sold to NTPC Vidyut Vyapar Nigam. Beside, The company also aimed to invest Rs 15,000 crore to set up 1,750 mw of renewable energy projects in the next three years, also aimed at developing 300 mw of wind power capacity in Rajasthan. The company also plans to construct 850 mw of wind power and 550 mw of solar in Karnataka.

5204 Indian Oil Corporation will invest about Rs. 8,000 crore to expand capacity at its Koyali oil refinery in Gujarat to 18 million tonnes per annum by 2016-17. Gujarat refinery is IOC’s second biggest refinery behind its Panipat unit which has a capacity of 15 million tonnes. The company owns 9 refineries with a total capacity of 54.2 million tonnes per annum. It also owns Chennai Petroleum Corp Ltd (CPCL) which has an 11.50 million tonne unit near Chennai. IOC is also looking at expanding its Haldia refinery capacity to 8 million tonnes from 7.5 million tonnes currently.

5203 Apollo Tyres has entered into a three-year partnership with Britain’s leading Premier League football club Manchester United. Under the agreement, the tyre manufacturer and distributor would become the club’s official tyre partner in India and the UK and create football-based play zones for local communities in both countries, using recycled rubber. The first of these pitches will be built within the grounds of Old Trafford. Apollo Tyres Ltd is the world's 7th biggest tyre manufacturer.

5202 Mahindra Lifespace, is planning to set up its second integrated city in Chennai. The investment of this township is around Rs 4,000 crore, including from the tenants who would occupy space inside the city. The company is looking for land in the north part of Chennai for the proposed facility, which will have a domestic tariff area rather than a special economic zone. Mahindra Lifespace has discovered the concept of integrated business city through Mahindra World City development in Chennai and Jaipur.

5201 Canara Bank ties up with United India Insurance for cross promotion of each other's products. A memorandum of understanding (MoU) signed between both Canara Bank and United India Insurance. According to MoU, Canara Bank has announced a retail loan package created exclusively for the employees of United India Insurance. The insurance firm would also utilise the services of the bank's network of BCs to provide micro insurance products to the rural population.

5200 US multinational DuPont expanded its knowledge centre here by opening an Application Development Centre focused on integrating advanced material science with other scientific disciplines for the automotive industry. The centre would enable solutions for light-weighting, engine performance, comfort and safety. The new Application Development Centre at the DuPont Knowledge Centre (DKC) houses thermoplastic and elastomer processing and testing equipment and leverages existing analytic equipment shared with several DuPont science disciplines. It complements the manufacturing facilities in Savli, Gujarat, and the DuPont India Innovation Centre in Pune. The company had then announced that it so far invested over $50 million in DKC.

5199 The State Bank of India has chalked out plans to merge all its subsidiaries with itself in the next 10 years. The bank will merge one subsidiary every two years. Chairman of SBI, Pratip Chaudhuri said, “It will take two years to digest a merger, as we have to work on branch rationalisation and various issues,”. In the next 10 years, all the five subsidiaries - State Bank of Hyderabad, State Bank of Mysore, State Bank of Travancore, State Bank of Bikaner and Jaipur and State Bank of Patiala - will be merged with SBI.

5198 The government has cleared 28 big-ticket investment projects worth Rs 1.1 lakh cr, which have been stuck for years for want of numerous government clearances. The clearances would come as a relief for investors in 18 power projects with a generation capacity of 15,500 mw, four highway projects worth Rs 4,400 crore, and a Rs 1,200-crore steel plant in Odisha. The coal ministry has agreed to sign fuel supply agreements for all these projects by August 31. Three critical railway lines in poorly connected states such as Chhattisgarh, Mizoram and Assam, with an investment outlay of over Rs 7,100 crore, have secured the requisite clearances to finish construction. Petroleum distillation units worth Rs 1,419 crore, being set up by Bharat Petroleum, have also got the go-ahead. Finance Minister P Chidambaram. Though the government had set up a Cabinet Committee on Investments (CCI) led by the prime minister to fast-track clearances for projects over Rs 1,000 crore, some of which have been delayed for decades, industry had pointed out the committee met just once a month and didn't have the bandwidth to resolve ground-level issues holding up private sector investments.

5197 Venus Pharma GmbH has got marketing authorisation (MA) approval from France for meropenem, a generic broad spectrum antibiotic injectable. The company has also signed a non-exclusive marketing rights deal with generic drug maker Mylan to sell meropenem in France. Meropenem is an off-patented generic broad spectrum anti- bacterial agent of carbapenem family, which fights diseases with a broad range of serious infections caused by single or multiple susceptible bacteria in both adults and children. Venus Pharma GmbH is rapidly making strides in the international market. Venus Pharma GmbH, a subsidiary of Venus Remedies.

5196 National Mineral Development Corporation (NMDC) will set up a 500MW power plant at Gonda district of Uttar Pradesh. The company would invest about Rs 3,016 crore on the project and has roped in IL&FS Energy Development Company (IEDCL) as a partner for the project, giving it a 74 per cent stake. Both the companies would sign a memorandum of understanding (MoU) for the project. The power plant will consist of two units of 250 MW and about 300-350 MW electricity will be used at NMDC's upcoming 3 million tonnes steel mill in Chhattisgarh's Nagarnar, which is more than 1,100 km away from Gonda. The company is waiting for statutory clearances. For the project, NMDC is planning to source E/F grade coal from Northern Coalfields Ltd, a subsidiary of Coal India. It may also supply C grade coal, which contains higher calorific value, from its Shahpur East and West coal blocks in Madhya Pradesh.

5195 Canara Bank is planning to open a branch at Johannesburg in South Africa and Frankfurt in Germany by end of this fiscal. The bank has received approval from Reserve Bank of India (RBI) and Central Bank of South Africa to open its first branch in South Africa by December this year. The bank is awaiting regulatory approvals from Germany's government for opening a branch in Frankfurt, which is supposed to happen by March 2014. At present, Canara Bank has five overseas branches. The Bank also has a joint venture with State Bank of India in Moscow for commercial banking operations. In addition to South Africa and Germany, the bank plans to open branches at 12 other overseas centres - DIFC (Dubai), Sao Paulo (Brazil), Dar-es-Salaam (Tanzania), Tokyo (Japan), Abuja (Nigeria), Jeddah (Saudi Arabia), Qatar Financial Centre (Qatar), New York (USA), Sydney (Australia), Ontario (Canada), Wellington (New Zealand) and Singapore by March 2015. The Bank has received approval from the Reserve Bank of India for opening a branch in Dubai. The bank is also plans to open new branch networks in the northern, eastern and western parts of the country, they have taken approval from RBI to expand the network.