Delhi realtor to invest Rs.1,200 crore in integrated townships

October 13th, 2009 RAIPUR - India's largest private sector steel maker, Tata Steel, will invest Rs.2,000 crore on environment conservation at its Rs.19,500-crore plant coming up in Chhattisgarh's militancy-hit Bastar district. "Tata Steel officials made a presentation at a public hearing on Monday for environmental clearance and committed to invest Rs.2,000 crore on environment conservation," Bastar district collector M.S.

September 9th, 2009 MUMBAI - Realty firm Entertainment World Developers will invest Rs.2,000 crore for setting up 20 malls across India under its rent-free revenue sharing concept for emerging brands. "We will invest Rs.2,000 crore for setting up 20 malls spread across one million square feet in 11 states and 20 cities by 2011," said company chairman and managing director Manish Kalani.

July 25th, 2009 MUMBAI - State-run gas utility company GAIL India Saturday reported a 26.8 percent dip in its net profit at Rs.655.8 crore ($135.5 million) for the quarter ended June 30, compared to Rs.896.8 crore in the same period last fiscal. However, the total income increased 4.3 percent to Rs.6,101.3 crore from Rs.5,845.5 crore, the company said in a regulatory statement.

July 20th, 2009 GANDHINAGAR - The Gujarat government has sought a Rs.705-crore ($146-million) aid package from the World Bank to upgrade urban infrastructure in 10 townships, a senior government official said Monday. The official at the department of urban development said the amount, if sanctioned, would be used to upgrade infrastructure in the towns like Bhavnagar, Jamnagar, Junagadh and Veraval so that these areas could attract more industrial investments.

July 16th, 2009 NEW DELHI - The state-owned Bharat Heavy Electricals Ltd (BHEL) will invest Rs.5,803 crore to double its power plant equipment manufacturing capacity by the end of 2011, the government said Thursday. "BHEL had augmented its manufacturing capacity for power plant equipment from 6,000 MW to 10,000 MW annually by December 2007," said Arun Yadav, Minister of State for Heavy Industries and Public Enterprises, in the Lok Sabha.

July 1st, 2009 NEW DELHI - The government Wednesday approved 21 foreign investment proposals amounting to Rs.84.9 crore ($17.78 million). Prominent among the proposals approved by the Foreign Investment Promotion Board (FIPB) is one by Germany's BASF, which plans to invest Rs.63 crore to manufacture speciality chemicals and trade in commoditised products.

June 26th, 2009 NEW DELHI - State-run gas major GAIL India will invest Rs.7,500 crore ($1.5 billion) to develop two major pipelines in southern India, the company said Friday. Of this investment, Rs.4,500 crore would be spent on the 1,389-km Dabhol-Bangalore pipeline, which would have a capacity of 16 million standard cubic metres a day (mmscmd), a company statement said.

June 24th, 2009 NEW DELHI - Life Insurance Corporation of India (LIC) on Wednesday announced that it would invest about 50,000 crore rupees in the equity market during this financial year. Addressing media persons in the national capital, Life Insurance Corporation of India's Managing Director Thomas Mathew said: "We expect to invest nearly Rs 50,000 crore in equities this year against Rs 40,800 crore last year." The largest life insurer in the country has invested about Rs 8,000 crore in the equities so far in this fiscal.

June 24th, 2009 NEW DELHI - The government will spend Rs.1,100 crore (Rs.11 billion) annually till 2012 to provide subsidies and upgrade technology to the textile sector, Textiles Minister Dayanidhi Maran said here Wednesday. The Technology Upgradation Fund Scheme (TUFS), which was launched to improve competitiveness and overall long term viability of the industry, has been extended till March 31, 2012.

June 15th, 2009 NEW DELHI - Taking a cue from the other realty companies like Unitech and DLF, Ansal Properties and Infrastructure, part of the Ansal API group, will raise up to Rs.1,500 crore by way of qualified institutional placement (QIP), the company said Monday. "The board of directors at its meeting held on Monday has decided to seek the approval of shareholders to issue equity shares, to resident and non-resident qualified institutional buyers by way of QIP for raising a sum of up to Rs.1,500 crore," the company said in a statement.

June 11th, 2009 NEW DELHI - Private equity fund Red Fort Capital will invest Rs.90 crore in a luxury residential project in the capital being developed by realty major Parsvnath, the realtor said Thursday. According to an agreement reached between the two firms, Red Fort will pick up 18 percent equity interest in the project, expected to be completed in three years and generate revenues of about Rs.1,300 crore.

April 27th, 2009 NEW DELHI - The government has cleared 22 foreign investment proposals worth Rs.541 crore, including a Rs.237.2-crore project of Mumbai-based telecom company Tikona Digital Networks, the finance ministry said Monday. Kolkata-based water infrastructure company Electrosteel Castings and Anant Raj Industries are also among the companies whose projects got the government nod.

April 22nd, 2009 NEW DELHI - JSW Steel, one of the leading steel makers in the country, will invest Rs.3,000 crore in 2009-10 to expand its production capacity, a top official said here Wednesday. 'We are planning to invest Rs.3,000 crore in the current financial year to expand our production capacity,' Sajjan Jindal, vice-chairman and managing director of JSW Steel, told reporters on the sidelines of a business meet.

April 5th, 2009 GHAZIABAD - A realtor wanted in several cases of fraud was arrested here Sunday for carrying out an illegal construction, the police said. Moti Goel was wanted for illegal constructions in the Vasundhara, Vaishali, Surya Nagar, Chanden Nagar and Rampuri areas of Ghaziabad.

December 27th, 2008 CHANDIGARH - Haryana's industry promoter, the Haryana State Industrial and Infrastructure Development Corp (HSIIDC), is creating a land bank of 17,000 acres for industrial units, the corporation announced here Sunday. The new land bank will be earmarked for industrial belts and infrastructure projects being planned in the state, a HSIIDC spokesman said.