Search Result for : Haryana

The Dollar Business Bureau Grasim Industries Ltd, a company of Aditya Birla Group, will sell its fully-owned arm Grasim Bhiwani Textiles Ltd (GBTL) to Donear Group’s Rajendra Synthetics. However, the amount of the deal has not been disclosed. “We are divesting our 100% holding of Grasim Bhiwani Textiles Ltd (GBTL), a wholly owned subsidiary, to Donear group,” the company said in a statement. The move is part of our time-to-time business portfolio review exercise and our strategy to consolidate the focus on our core business, it said. The company’s board, in a meeting held on Monday, cleared the agreement for transferring 100% stake in GBTL to Donear Group. “The company has entered into a definitive agreement for divesting the company's total investment in GBTL to Rajendra ...

The Dollar Business Bureau Buoyed by increasing cotton prices, Indian farmers have started sowing cotton in a larger area. Sowing has begun on a stronger note in Haryana, Punjab, Karnataka for the 2017-18 season. India is the world’s biggest producer of cotton and a higher output in the country could enrich the cotton farmers who have been under distress due to prolonged drought, adverse market conditions, non-payment of bank loans  and climatic aberrations. India’s current cotton crop for the season ending this September is expected to be 170 kgs or 34.1 million bales. According to M.M.Chockalingam, Chairman of the State run Cotton Corporation of India, “this year farmers received higher prices, so they are going to raise the area under cotton. We are ...

PTI State-owned oil company Indian Oil Corporation will set up a Rs 600-crore plant to produce second generation ethanol at Panipat in Haryana. The state government has accepted the investment proposal, which was approved by the empowered executive committee at its meeting held here today, an official spokesperson said. "The plant will use plant waste, stubble, husk and straw to produce 100 KL of ethanol every day. The state government has agreed to provide land either on nominal lease or free of cost. Billed to be the largest such plant in the country, it is expected to generate hundreds of jobs," the spokesperson added. The plant, which would help reduce stubble burning drastically, is likely to be commissioned ...

PTI Gionee mobile phones would now be manufactured in Haryana as the company today signed an MoU with the state government to set up its phone manufacturing hub with an initial investment of Rs 500 crore which, later on, would be increased to Rs 1,500 crore. The Memorandum of Understanding (MoU) was signed in the presence of Chief Minister Manohar Lal Khattar and state industries minister Vipul Goel by Chairman, Gionee Mobiles, Liu Lirong and Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) here. Goel said that the Mobile Manufacturing Hub would be set up over an area of 40-50 acres in Faridabad and would provide employment to 28,000 people in next three years. This, he said, would be a major ...

The Dollar Business Bureau  The cab aggregator, Ola, on Tuesday said that it has signed a Memorandum of Understanding (MoU) with the Haryana government for investing Rs.350 crore in the state over the next 5 years and to create more than 10,000 entrepreneurs. The online transportation network firm has partnered with the state government to utilise its technology aggregation model to make the public transport easily accessible to the people of Haryana. "We will make an investment of Rs.350 crore in Haryana in the coming 5 years to create opportunities for entrepreneurship all over the state," said Pranay Jivrajka, Chief Operating Officer (COO), Ola. "We will work in tandem with the Haryana government for training and providing the required skills to thousands of ...

The Dollar Business Bureau A delegation of China Fortune Land Development Co. Ltd (CFLD) on Wednesday held a meeting with Capt. Abhimanyu Singh Sindhu, Industries and Commerce Minister of Haryana to discuss opportunities for investment and set up a joint venture in the state.    According to official sources after the Chinese conglomerate Wanda Group, CFLD is yet another company that has shown interest to set up a joint venture in Haryana. Headed by Xingchuan Liu, Chief Financial Officer (CFO) of CFLD, a five-member delegation, met the Industries and Commerce Minister in Chandigarh, the source said. "The delegation had discussions on investment opportunities in the areas of automobile, aerospace, electronics and food processing in the state," it said. Xingchuan Liu, mentioned during ...

PTI Haryana's Annual Credit Plan for this fiscal has been enhanced by 17.1 per cent to Rs 1,03,953 crore, a senior official said today. Haryana Additional Chief Secretary, Finance and Planning, Sanjeev Kaushal said the credit plan of the previous fiscal stood at Rs 88,786 crore. Kaushal was addressing the 136th meeting of State Level Bankers Committee here. He urged the bankers to achieve 100 per cent target for the Annual Credit Plan 2016-17, up from the previous fiscal's score of 94 per cent. He also urged the banks to open maximum number of branches in rural areas and ensure timely distribution of various social security pensions. Under the Pradhan Mantri Jan-Dhan Yojana (PMJDY), Kaushal asked ...

Source: PTI Wheat arrival in Haryana reached 20,45,856 tonnes in the ongoing rabi marketing season. Out of total arrival, 20,45,665 tonnes of wheat has been purchased by the government procurement agencies at Minimum Support Price, said a spokesman of the Food and Supplies Department. Giving details of the wheat procured by government agencies, he said 5,97,847 tonnes of wheat has been procured by Food and Supplies Department, whereas HAFED has procured 6,14,379 tonnes of wheat. He said Food Corporation of India has purchased 2,39,290 tones of wheat, Haryana Agro Industries Corporation 1,71,299 tonnes and 4,22,850 tonnes of wheat has been procured by Haryana Warehousing Corporation. He said that apart from this, 191 tonnes of wheat has been procured by traders.