Repco Infra eyes Rs.100-crore projects in Tamil Nadu

October 4th, 2009 CHENNAI - City-based Repco Bank, a cooperative society floated 40 years ago to assist repatriates from Sri Lanka and Myanmar, is now looking at transforming itself into a commercial bank to tap the benefits of the sector, its officials say. "Our board has sought the permission of the Indian government to become a proper bank governed by RBI (Reserve Bank of India)," bank managing director M.

September 2nd, 2009 CHENNAI - Former Tamil Nadu chief minister and the current Leader of the Opposition J. Jayalalithaa has demanded regularisation of 1,600 casual workers at Tamil Nadu Newsprint and Papers Ltd (TNPL), the country's second largest paper maker.

August 31st, 2009 MUMBAI - Infrastructure company Maytas Infra posted a net loss of Rs.489.79 crore last fiscal compared to a profit of Rs.99.64 crore in the previous period, it said in a regulatory statement Monday. The Hyderabad-based company, promoted by the family of B.

August 20th, 2009 NEW DELHI - The government Thursday said it would convert loans taken by state-owned Tamil Nadu Telecommunications Ltd (TTL) to equity as part of efforts to revive the ailing company. TTL is a joint venture between Telecommunications Consultants India Ltd (TCIL), a public sector telecom consultancy and engineering company, and Tamil Nadu Industrial Development Corp.

July 29th, 2009 NEW DELHI - Reliance Power has posted a net profit of Rs.100.56 crore ($21 million) for the quarter ended June 30 as against Rs.59.7 crore reported in the like period last year. The total income has increased to Rs.144.24 crore from Rs.77.67 crore, the company said in a statement.

July 13th, 2009 CHENNAI - The Tamil Nadu government is developing country-specific industrial parks to attract investments from business units located in those countries. According to the Industries Department policy note submitted by Deputy Chief Minister M.K.

July 13th, 2009 CHENNAI - After attracting global automobile manufacturers to the state, Tamil Nadu is now planning a financial city, an aviation park and country-specific complexes to attract investment. Responding to the discussions in the assembly for the demands of grants for the industries department, Deputy Chief Minister M.K.

July 9th, 2009 CHENNAI - Telecom major Idea Cellular will invest Rs.1,000 crore ($205 million) over the next three years in Tamil Nadu to expand its network, a top company official said Thursday. "The company will invest Rs.1,000 crore to expand its cell sites to 2,400 by 2010 and presence to 1,200 towns in the state.

July 7th, 2009 MUMBAI - The Karnataka government has retained Maytas Infra, a company run by the family of former Satyam chairman B. Ramalinga Raju, as the developer for two greenfield airport projects at Gulbarga and Shimoga.

July 6th, 2009 NEW DELHI - The government will allocate Rs.100 crore for about 1,000 villages with higher population of scheduled castes and scheduled tribes, Finance Minister Pranab Mukherjee said while presenting the budget for 2009-10 in parliament Monday. The scheme, currently on a pilot basis, will be extended in the coming years, he said.

June 24th, 2009 CHENNAI - Tamil Nadu's seven state transport undertakings (STUs) will purchase 3,500 buses this fiscal with funding assistance from Tamil Nadu Transport Development Finance Corp and the central government. Some 1,600 buses will be bought under the central government's Jawaharlal Nehru National Urban Renewal Mission - an initiative to promote planned development of cities, according to a policy note of the state transport department submitted in the assembly by Transport Minister K.N.

June 22nd, 2009 CHENNAI - Energy-starved Tamil Nadu wants a higher share of power that will be generated by the joint venture it has set up with mining and power company Neyveli Lignite Corp (NLC). A similar demand had earlier been raised by Gujarat, where NLC proposes to set up a 1,000 MW plant at Valia, also in joint venture with that state's power board.

June 20th, 2009 CHENNAI - The Tamil Nadu government, planning to set up windmills to generate 1,000 MW, has sought financial assistance from the central government for the project, state Electricity Minister Arcot N. Veeraswami said here Saturday.

June 17th, 2009 CHENNAI - The restructuring of Tamil Nadu Electricity Board (TNEB) is aimed at getting central assistance for various power projects and not for selling its subsidiaries to private parties, state Electricity Minister Arcot N. Veeraswami said here wednesday.

May 31st, 2009 CHENNAI - The Tamil Nadu government Sunday announced huge increases in the salaries of its employees ranging between Rs.1,774 and Rs.7,300 per month. The pay hike is expected to shoot up the government's annual expenditure by Rs.5,155.79 crore, while the initial cost would be around Rs.11,093 crore, an official statement said.