Hindustan Copper seeks Centres nod for copper plant
The Dollar Business Bureau State-owned Hindustan Copper Ltd (HCL) said on Monday that the location for its copper concentrate project in Chhattisgarh worth Rs.2,200 crore has been finalised and it will seek the approval of Centre for the same. “We have approved the hydrometallurgy plant in Chhattisgarh, which is near Malanjkhand. The project cost will be Rs.2,000-2,200 crore and we will need the Cabinet’s approval for the project,” K D Dewan, Chairman and MD, HCL said. The PSU has shortlisted two foreign firms, from Finland and Israel, for the new green technology that would for the first time be used for extracting metal via chemical process, in place of heat. HCL has set aside Rs.6,000 crore as total capital expenditure (capex) for the next 5 ...
Jindal Brothers on the verge of closing a deal, JSW expects to increase its power generation capacity
Jindal Steel & Power company has a total net debt of 460 billion rupees at the end of December last year, which is almost eight times the companys current market capitalization. The company has been in frequent discussions with the lenders to postpone repayments due to the cash flow mismatches. The Dollar Business Bureau Ravi Uppal, the Chief Executive of Jindal Steel said that they are negotiating a deal, but refused to give more details about it JSW energys Sajjan Jindal is on the verge of closing a deal of about $782 million to buy a coal-fired power plant of 1,000 megawatt(MW) from Jindal Steel & Power, owned by his brother. An announcement is expected about the deal on Wednesday. However, a delay ...
Adani group to invest Rs.25k cr to set up power, edible oil plants in Chhattisgarh
The Dollar Business Bureau Adani Group has entered into an agreement with Chhattisgarh government to invest Rs.25,000 crore for the setting up of a power project and a rice bran oil extraction plant in the state. The MoUs were signed in the presence of Raman Singh, Chief Minister, Chhattisgarh, Amar Agrawal, Minister of Industry and Rajesh Adani, Managing Director, Adani Enterprises Ltd, the Chhattisgarh government said in a statement. The two projects— Coal to Polygeneration (CTP) Project and a Rice Bran Solvent Extraction Plant & Refinery project, worth around Rs.25, 200 crore — are expected to leverage state’s core strengths i.e. coal and rice. “This is one of the biggest and strategic investments in the state which would ensure value addition in ...
Railway restructuring should be linked to economic clusters
The Dollar Business Bureau “Railways should prioritise linking economic clusters through high-speed passenger and freight network,” said CUTS (Consumer Unity & Trust Society) International as part of its comments on the Bibek Debroy Panel report on Restructuring Railways. The non-profit went on to add that, in fact, a detailed exercise of mapping current and future economic clusters must precede the efforts of railway liberalisation. This will ensure enhanced participation of private players. For example, focus on railway investments on the feeder routes from the coal and iron ore mines located mostly in the tristate area of Chhattisgarh, Orissa and Jharkhand will help achieve greater efficiency. In addition to the above, an urgent action is required to ensure that India’s transport ...
