Business Bytes

UltraTech to set up Rs 2,600-cr plant in Madhya Pradesh

UltraTech Cement plans to invest Rs 2,600 crore in setting up a 3.5 million tonne per annum integrated cement plant at Dhar, Madhya Pradesh. Commercial production of the new plant is expected to start in the fourth quarter of FY19. This plant will help in reduction of lead distance and cater to the markets of south-west Madhya Pradesh, where the Company is not a significant player. With this expansion and the acquisition of the cement plants of Jaiprakash Associates Ltd, the Company’s cement capacity will stand augmented to 95 mtpa including its overseas operations.
The company has reported a 5 per cent increase in its net profit for the October-December quarter to Rs 594 crore (compared to Rs 567 crore in the corresponding quarter last year) despite a fall in sales.


Green clearance for building port at Tadadi

An expert panel of the Union Environment Ministry has recommended environment and coastal clearance for building a multi-purpose all-weather port at Tadadi in Karnataka. The Rs 3,813-crore project of the Karnataka State Industrial & Infrastructure Development Corporation Ltd was given the go-ahead by the Environment Ministry’s Expert Appraisal Committee (EAC). The panel recommended environment and coastal regulation zone (CRZ) clearance to the project with 27 specific conditions in addition to the regular conditions to ensure environmental protection.


Kudankulam’s second unit ready for power generation

The second unit of the Kudankulam Nuclear Power Project (KNPP) in Tamil Nadu has attained its generation capacity of 1,000 MWe and will soon start commercial power generation. The unit is India’s 22nd nuclear power reactor and among the largest in the country. The second reactor attained criticality in July 2016 and was connected to the power grid in August. The construction for units 3 and 4 began in April 2016. Two more units are planned at the site. Once all six units are commissioned the project will have 6,000 MW capacity.


Two new railways industrial projects planned in Odisha

The Centre has sanctioned two new railways industrial projects and allocated Rs 5,102 crore for rail infrastructure development in Odisha, as per reports. As per sources, an Electric Loco Periodical Overhauling Workshop will be set up in Kalahandi with an investment of Rs 186 crore. A Freight Train Maintenance Facilities with Routine Overhauling Facilities for Freight Wagons at Maneswar near Sambalpur has also been sanction at a cost of Rs 49.16 crore, add reports. Among the major projects, the budget has made allocation of Rs 700 crore for the Khurda-Bolangir railway project followed by Rs 275 crore for Jeypore-Nabrangpur rail project. While Rs 250 crore has been allocated for Talcher- Bimalagarh rail project, the Haridaspur-Paradip rail project has got Rs 200 crore.
For construction of railway over bridge, railway underpass and subways, the budget has made allocation of Rs 671 crore of which the state government's share will be Rs 363.72 crore. The Centre has also sanctioned three new surveys for construction of a new line between Bhawanipatna-Kesinga via Utkela (35 km), Sambalpur-Jharapada (3rd line) and Jharsuguda-Sambalpur (3rd and 4th line).


Road Ministry seeks Rs 90,904 cr for 2017-18

The Road Ministry has requested the Finance Ministry to allocate Rs 90,904 crore to help complete ongoing highway projects in time and compensate for the toll revenue losses following demonetisation. The Ministry of Road Transport and Highways (MoRTH) said it needs higher allocation to carry forward the ongoing work and also to compensate concessionaires who lost revenue because of withdrawal of tolling following the demonetization, as per reports. The Road Ministry conveyed it to the Finance Ministry that "as against our proposal of Rs 90,904 crore for Budget Estimate (BE) 2017-18, the indicated outlay for BE 2017-18 is only Rs 58,362 crore. The proposed reduction in allocation of national highways (NH) sector would cause a major setback in the progress of ongoing projects and in the achievement of targets.


ToR norms cleared for Rs16,0000 crore Delhi airport project

Clearing the way for environmental impact assessment (EIA) studies mandatory before a planned Rs16,000 crore expansion of Delhi’s airport, an expert panel of the Union environment ministry has cleared Terms of Reference (ToR) for it. ToRs are guidelines for conducting EIA studies of projects, based on which the environment ministry grants or rejects green clearance to a project. Delhi International Airport Pvt. Ltd, which handles the administration of Delhi airport, has proposed the expansion of the Indira Gandhi International Airport in New Delhi. The total area of the airport at present is 5,106 acre. For expansion, no additional land will be acquired.


United Technologies opens New Hyderabad Research & Design Center

United Technologies Corp. has announced the opening of a new Hyderabad Research & Design Center, which has been expanded to enhance the company’s cutting-edge engineering innovation capabilities. With engineering expertise in heating, ventilating and air conditioning systems (HVAC), fire and security solutions, and elevators, the new R&D center will also facilitate the localization of products, supporting the government’s “Make in India” initiative.
The research center will house engineers supporting R&D efforts for United Technologies business units including UTC Climate, Controls & Security and Otis. In the next few years, the 151,000-square foot R&D center is expected to add additional talent, further enhancing its position as the biggest center supporting R&D initiatives for UTC Climate, Controls & Security globally.
KT Rama Rao, Minister of IT, Government of Telangana, inaugurated the new office and Dr. J. Michael McQuade, Senior Vice President, Science & Technology, United Technologies, commemorated the grand opening ceremony. Jayesh Ranjan, IT Secretary, Government of Telangana, was also on hand for the ceremony as well as Dr. John Galbraith, Vice President, Global Engineering, UTC Climate, Controls & Security, and Dr. Thierry Jomard, Vice President, Global Engineering, Otis.


Skipper Pipes bags “Emerging Brand of the Year” award

Skipper Pipes has bagged the ‘Emerging Brand of the Year, 2016’ award by World Consulting Research Corporation (WCRC). Siddharth Bansal, Director, Skipper Ltd, said, ‘I am humbled, honored, and at the same time excited for our Brand “Skipper Pipes” being selected as The Emerging Brand of The Year in the Polymer Pipes & Fittings category. I believe that few qualities which brought me here tonight were gained when we first kick started the project approximately 5 years back. These qualities include professionalism, the demonstration of potential and capacity to grow under corresponding circumstances. I also believe this is a result of the Skippers who contributed their best and selflessly achieved goals without waiting for any reward.”