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The Dollar Business Bureau From Budget 2017, CII demands privatisation of 100 public sector units along with construction of 50 railway stations via public-private partnership (PPP) by the end of 2017. In order to boost the shrinking private investment, CII President Naushad Forbes wants all disputes involving public-private partnerships to be resolved. Resolution of these long pending disputes will, according to him, bring back positivity in investor sentiment. "By December 2017 we should do three things -- we should privatise 100 firms, we should ensure all pending disputes of PPPs are resolved using the Kelkar Committee recommendations and we should have 50 train stations developed by public- private partnership (PPP) mode," he said. The Kelkar Committee, headed by former finance secretary Viijay Kelkar, in December 2015, had looked into some fundamental issues which were clogging the PPP ...

The Dollar Business Bureau  In order to keep its commitment to speed up the implementation of new proposals for investment, Odisha’s Single Window Clearance Authority (SLSWCLA) cleared projects worth around Rs.3,000 crore, in many sectors including steel, petrochemicals, hospitality and food processing that would help in generating employment opportunities for around 22,000 people.  The SLSWCLA headed by the State’s Chief Secretary A P Padhi recommended a proposal by navratna PSU, NLC India Ltd, for setting up a power plant to the high-level clearance authority chaired by Chief Minister Naveen Patnaik. NLC has submitted an investment proposal of Rs.11,783 crore for establishing a power plant in the Jharsuguda district.  “Most of the projects were committed by companies in the recently concluded ‘Make in Odisha’ conclave while two ...

The Dollar Business Bureau The board of NTPC, India's biggest energy conglomerate, has cleared Rs.323.35 crore investment in the public sector unit’s (PSU) first wind power project of 50 MW in Rojmal, Gujarat. In its BSE filing, the company said, “The Board of Directors of NTPC in its meeting held on November 30, 2016 has accorded investment approval for Rojmal Wind Energy Project (50 MW) in Gujarat at an appraised estimated cost of Rs.323.35 crore subject to signing of Power Project Agreement.” This will be NTPC’s first wind energy project, the statement said. The state-run power company has drafted its business strategy of adding capacity through renewable resources to about 1,000 MW by 2017. To achieve this endeavour, the PSU has so far ...

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 ...

PTI Saddled with rising bad loans, five public sector banks, including Bank of India, Dena Bank, and Central Bank of India, on Friday posted a combined loss of Rs 2,564 crore for the first quarter ended June. Meanwhile, the country's largest lender SBI witnessed a 78 per cent drop in consolidated profit to Rs 1,046 crore against Rs 4,714 crore profit in the same quarter a year ago. Oriental Bank of Commerce (OBC) too reported 61 per cent decline in net profit at Rs 100.69 crore as against Rs 257.84 crore in the corresponding April-June quarter of 2015-16. Leading the pack, Bank of India reported a loss of Rs 741.3 crore as provisions for bad loans nearly doubled. Provisions and contingencies ...

Chhattisgarh Chief Minister met Union Finance Minister Arun Jaitley and sought a package of Rs. 4,000 crore for the state in the upcoming Budget The Dollar Business Bureau Union Railways Minister Suresh Prabhakar Prabhu and the Chhattisgarh CM Raman Singh at the signing ceremony of a MoU for formation of JV Company, in New Delhi on Tuesday   Chhattisgarh Chief Minister Raman Singh hailed the Centres decision to impose the minimum import price (MIP) on steel and suggested that an increase in export duty on iron ore will also encourage the use of mineral in in-house manufacturing and reduce the countrys dependency on imported metal products. On Tuesday, Chhattisgarh Chief Minister met Union Finance Minister Arun Jaitley and sought a package of Rs. 4,000 ...