HAL signs MoU with MoD; targets Rs.17,900 cr revenue in FY18
The Dollar Business Bureau Targeting a highest ever revenue at Rs.17,900 crore for current financial year, state-owned aerospace and defence firm, Hindustan Aeronautics Limited (HAL) on Wednesday signed a Memorandum of Understanding (MoU) with the Ministry of Defence (MoD). HAL has also put special emphasis on modernisation, capacity building and solar power plants, with the aim to attain a capital expenditure (capex) of Rs.1,300 crore, the company said in a statement. The MoU has charted out the targets on several performance parameters for the current fiscal. The MoU was signed by Ashok Kumar Gupta, Secretary in the Department of Defence Production, on behalf of Defence Ministry and T Suvarna Raju, CMD, on behalf of HAL. “The company’s thrust is on ‘Make in India’ projects such as Hindustan Turboprop ...
Building trust in technology is crucial: Microsoft's Nadella
PTI Microsoft's India-born chief Satya Nadella on Wednesday attempted to allay concerns over the increasing use of technology in public life and said building trust was crucial to its utilisation as a tool to "empower" people. Nadella, the chief executive officer of Microsoft, also urged software developers to use technology to bring in "more and more people" within the global technological network. "Building trust in technology is crucial... Ensure that there is more trust in technology each day. We have to capture the essence of the timeless value," Nadella told the annual Microsoft developer's conference 'Build 2017' here. His remarks gain significance amid concerns raised about the use of technology both in the United States and India. The ...
RINL to invest Rs.38,500 cr on expansion of projects in Vizag
The Dollar Business Bureau Rashtiya Ispat Nigam Ltd (RINL), the corporate entity of Visakhapatnam Steel Plant, has signed an agreement with the Andhra Pradesh government to take up various projects with an investment of around Rs.38,500 crore. The agreement, signed during the ‘Sunrise AP Investment Meet’ being held in Visakhapatnam, aims at creating employment for around 3,000 people. The investments include expansion of RINL to 7.3 million tonnes per annum (MPTA) and modernization with an investment of Rs.3, 600 crore and further expansion to 11.5 - 12 MTPA at an estimated cost of Rs.25, 000 crore. The MoU also ensures construction of Coke Oven Battery-5 and other projects at an investment of Rs.3,400 crore, besides establishment of a slurry pipeline ...
