West Bengal power firm plans Rs.5,000 crore investments

October 8th, 2009 KOLKATA - JSW Steel, part of the Sajjan Jindal-owned JSW Group, aims to raise Rs.6,600 crore through debt for financing its Rs.11,000-crore steel project in West Bengal's Salboni, a senior official said here Thursday. "Sixty to 65 percent of the total project cost will be funded through debt.

September 23rd, 2009 KOLKATA - West Bengal is lagging behind in implementing the projects sanctioned under the Jawaharlal Nehru Urban Renewal Mission (JNURM) scheme, Union Minister of State for Urban Development Saugata Roy said here Wednesday. "West Bengal and Delhi are lagging behind in (utilising) the fund sanctioned under the schemes of JNURM.

September 3rd, 2009 KOLKATA - Kolkata-based tyre manufacturer Dunlop India will resume production at its Sahaganj factory in West Bengal around the Durga Puja festival in late September, a top company official said here in a statement Thursday. "The Sahaganj plant will resume production either just before the Puja, or right after the Puja.

September 1st, 2009 KOLKATA - TATA Group chairman Ratan Tata on Tuesday told a press conference here that the failed NANO plant at Singur had cost him about 500 crore rupees, and he was willing to return the land if the State Government compensated Tata Motors. "We do not want to sit on the land.

August 24th, 2009 SHIMLA - Himachal Pradesh-based knitting and weaving products firm Winsome Textile has outlined a Rs.143-crore expansion programme after banks approved its debt restructuring plan, a top company official has said. "After getting clearance from banks for debt restructuring, we have plans to invest Rs.143 crore in three divisions -- spinning, dyeing and power," managing director Ashish Bagrodia told IANS.

July 31st, 2009 CHENNAI - Bicycle and engineering product manufacturer Tube Investments (TI) is looking at various options, including tying up with a new company, to save its loss-making Chinese unit. The Chennai-based company, part of the $3-billion Murugappa group, said the Chinese unit, which manufactures steel tubes, posted a net loss of around Rs.8 crore in 2008.

July 27th, 2009 NEW DELHI - State-run gas transmission and marketing company GAIL India has approved pipeline projects worth more than Rs.8,000 crore (Rs.80 billion/$1.6 billion) to transport hydrocarbons, including an over-2,000 km line from Uttar Pradesh to West Bengal. U.D. Choubey, the outgoing chairman of GAIL, formerly Gas Authority of India, told reporters Monday that the company's board has approved the outlay to enhance the current pipeline network of 7,100 km to ferry 155 million metric standard cubic metres of gas per day.

July 25th, 2009 CHENNAI - City-based engineering and infrastructure firm BGR Energy Systems has posted a net profit of Rs.20.23 crore for the quarter ended June 30 as against Rs.17.23 crore reported in the like period last year, a growth of 17 percent. The company's turnover during the period stood at Rs.311 crore as compared to Rs.306 crore in the April-June quarter last fiscal, BGR said in a statement.

July 25th, 2009 KOLKATA - Tyre maker Dunlop India may suspend operations at its Sahaganj factory in West Bengal if electricity connection is not restored within 15 days, a top official said here Saturday. "Electricity problem is holding back production.

July 16th, 2009 KOLKATA - Singapore's Changi Airports International (CAI) will spend $20 million (Rs.100 crore) on the Durgapur aerotropolis project, an airport city in West Bengal housing aviation-intensive businesses, a top company official said here Thursday. "We have picked up a 26-percent stake in the company (Bengal Aerotropolis Projects) and have decided to invest $20 million in the Durgapur project," said CAI chief executive Wong Woon Liong at a press conference.

June 15th, 2009 KOLKATA - Villagers in the remote islands of the Sundarbans can now avail of a new variety of solar lanterns that can be charged directly under sunlight. Their solar power panels in the mangrove forests, the only source of electricity in the area, were damaged by the Cyclone Aila earlier last month.

June 5th, 2009 KOLKATA - Cyclone Aila that devastated parts of West Bengal last month damaged solar power panels worth Rs.50 crore (Rs.500 million) in the Sundarbans, an official said here Friday. "We've estimated that a huge bulk of solar panel devices worth Rs.50 crore was completely damaged due to cyclone Aila last week in Sundarbans," the managing director of West Bengal Green Energy Development Corporation Ltd, S.P Gon Chowdhury told reporters on the sidelines of a enviromental conference.

May 29th, 2009 SHIMLA - Himachal Pradesh Friday entered into an agreement with Kolkata-based Eastern Mineral and Trading Agency (EMTA) for setting up a 500-MW thermal power plant in West Bengal, from where the electricity generated will be transmitted back home. The plant will be established at Raniganj.

May 27th, 2009 NEW DELHI - Rajasthan attracted investments worth Rs.69,052 crore, the highest among northern states, during 2008-09, a business chamber report released here Wednesday said. The report, 'Investment Prospects in Indian Economy 2008-09' by the Associated Chambers of Commerce and Industry (Assocham), said Haryana, which attracted investments worth Rs.52,852 crore, came second, followed by Uttarakhand with Rs.36,059 crore.

April 8th, 2009 NEW DELHI - State-run power generation firm NTPC Ltd Wednesday reported 5.6 percent increase in its provisional net profit for 2008-09. NTPC, formerly known as National Thermal Power Corp, posted Rs.7,827.4 crore ($1.5 billion) as profit for 2008-09, compared to Rs.7,414.8 crore the year before, the company said in a statement.