The Hindu Business Line : Wednesday, December 07, 2005

SAIL to pump in Rs 348 cr to modernise Rourkela Steel
THE Steel Authority of India Ltd announced, on Tuesday, plans for modernising its Rourkela Steel Plant (RSP) in Orissa with an investment of Rs 348 crore. This is part of the company's corporate plan to achieve 20 million tonnes capacity by ... More

ANNOUNCEMENTS

Nestle India to pay second interim of Rs 18 per share
THE board of directors of Nestle India declared the second interim dividend of Rs 18 per equity share for the current year, which would be paid to the shareholders from December 22. With this, the total dividend payment during 2005, including the ... More

Maruti to recall 2,200 Versas
MARUTI Udyog Ltd said that it would recall as many as 2,217 Versa vans to fix a possible fault in the exhaust system. Maruti has asked owners to bring in their cars, as during a quality audit at the factory, some aberrations were noticed in ... More

Suzlon bags China, Korea orders
MUMBAI: Suzlon Energy Ltd, a major player in the wind energy sector, has secured contracts worth Rs 228 crore for wind turbine generators from China-based Guohua Inner Mongolia Huitengliang Wind Farm Project and Jeju Wind Farm project, ... More

Ramky group bags orders for industrial parks in several States
RAMKY group, the Hyderabad-based infrastructure company, has won orders to develop industrial parks in several States on a build, operate and transfer model. It has signed a memorandum of understanding with the Haldia Development Authority ... More

Carraro group to start production at Turbo Gears
"Infrastructure development is happening in a big way here and this could possibly see us bringing in our construction equipment components at some point." More

MSC Power to set up solar-wind plant near Pune
SINGAPORE-based MSC Power Corporation (BVI) Ltd is setting up a `P4' solar-wind power plant at Alandi near Pune. The Union Agriculture Minister, Mr Sharad Pawar, will lay the foundation stone of this power plant on December 12.MSC Power is ... More

Nagarjuna Construction bags National Games contract
NAGARJUNA Construction Company Ltd has announced that it has bagged the `National Games Housing Complex Project' at Ranchi from the Government of Jharkand for the National Games in 2007. The project is worth around Rs 276 crore, the company ... More

OVERSEAS BORROWINGS

36 firms sought RBI nod in Oct to raise overseas funds
IDBI Ltd, Amtek India, and Reliance Industries were among the 36 companies that had sought permission from the Reserve Bank of India in October 2005 to raise overseas funds, according to the RBI Web site. These companies proposed to raise funds ... More

AWARDS & HONOURS

ABB India bags Helen Keller Award
ABB India has been awarded the prestigious Helen Keller Award for its efforts in facilitating gainful employment for people with disabilities. The award, instituted by the National Centre for the Promotion of Employment for Disabled People, was ... More

NFCL bags FAI award
HYDERABAD: Nagarjuna Fertilizers and Chemicals Ltd (NFCL) has won the FAI (Fertiliser Association of India) Environment Protection Award in the nitrogenous fertiliser plants category for the year 2004-05. It had earlier won the same award ... More

TAXATION

Corporates under watch for tax evasion
THE Revenue Department is on the prowl to check tax evasion by service providers. The corporates under watch by the Revenue department include Wipro GE Medical, IBM Global Services, TNT India, Air India, Jet Airways, Indian Airlines, ONGC Videsh ... More

CORPORATE BONDS

FCI bond issue opens today
THE Food Corporation of India (FCI) plans to raise up to Rs 5,000 crore through issue of bonds to restructure its debt. The basic bond issue of Rs 1,000 crore with a greenshoe option will open on Wednesday. If FCI raises the entire Rs 5,000 ... More

MERGERS & ACQUISITIONS

Matrix Labs to pick majority stake in Concord Biotech
IN YET another consolidation move, Matrix Laboratories Ltd has decided to acquire controlling stake in Concord Biotech Ltd, an Ahmedabad-based closely held biotechnology company. Concord has fermentation and bio-catalytic technology ... More

NEW PROJECTS

Marriott's business hotel to open in Chennai
A NEW property slated to open in Chennai next month will signal the entry of Courtyard, the business-class brand of Marriott International Hotel, into India. The hospitality major is operating four brands spanning its super luxury JW Marriott, ... More

Jindal Stainless plans to enter CRGO segment
JINDAL Stainless Ltd (JSL) plans to take up manufacture of cold-rolled grain-oriented (CRGO) silicon steel in India. Pohang Iron and Steel Company Ltd (Posco) too would be looking at this segment once their proposed plant in Orissa gets ... More

Metso Minerals plans expansion
BANGALORE: Rock and mineral processor Metso Minerals plans to double its manufacturing capacity and increase its foundry capacity in India. The Mesto Minerals President for India, Mr Sudhir Srivastava, told Business Line that the ... More

ALLIANCES & JOINT VENTURES

BV Bio, BAIF in pact for livestock management
MUMBAI: BV Biologicals, a group company of Venkateshwara Hatcheries specialising in livestock management and healthcare, has announced that it has entered into a joint venture with Bhartiya Agro Industries Foundation (BAIF) to bring ... More

Shell yet to find partner for Hazira LNG terminal
NEW DELHI: Mr Vikram Singh Mehta, Chairman, Shell Group of Companies in India, indicated that players in the industry have shown keen interest for acquiring stake in its Hazira liquefied natural gas (LNG) terminal in Gujarat. ... More

INTERVIEW

Mukand to reduce debt-equity ratio after land sale
MUKAND has sold 25 acres of its Kurla land for Rs 221 crore. The proceeds from this sale will be used for repayment of debts and expansion. The Managing Director, Mr Niraj Bajaj, said that the land deal would see interest-cost savings of Rs ... More

RENDEZVOUS
`Quick decisions and quick action made LG a top brand'
`LIFE'S Good', the LG Electronics promotional slogan, could well be the personal statement of Mr Kwang-Ro Kim, Managing Director and President, South West Asia as he bows out of the Indian office of LG Electronics by the end of the month after ... More

DIVERSIFICATION

Reliance plans underground coal gasification projects
RIL has urged the Government to change the Coal Mines (Nationalisation) Act of 1973, to create new provisions for allocation of captive coal blocks to a private sector entity More

Punj Lloyd plans to expand engg services — To foray into hydel power, ports, airports
PUNJ Lloyd Ltd has firmed up plans to expand its engineering services footprint to new sectors such as hydel power, light rail transport, ports, and airports. So far, the engineering and construction services major offered its engineering ... More

PEOPLE

NMDC Director dead

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