Business News

UltraTech to spend Rs 11,000 cr on new buys, Raipur, Chhattisgarh

Aditya Birla group company UltraTech Cement said on Friday that it would spend Rs 11,000 crore over three years to enhance various manufacturing facilities and was also looking for acquisitions under an expansion plan. "These (new projects) include clinkerisation plants through brownfield

expansion at Chhattisgarh and Karnataka together with additional grinding units, installing waste-heat recovery systems and instituting bulk packaging terminals and setting up of ready-mix concrete plants," company chairman Kumar Mangalam Birla said at the firm's annual general meeting.

ADB approves $500 million loan to Indian Railways news, Raipur, Chhattisgarh

The Asian Development Bank (ADB) is extending loans of up to $500 million to help India improve rail services along some of its busiest freight and passenger transport routes.

The ADB Board of directors late last week approved a multitranche financing facility for the Railway Sector Investment Program. It will finance additional lines and the electrification of hundreds of kilometers of existing track, along with installing new signaling. ADB will also support accounting reforms to improve operational efficiency at Indian Railways.

Niche metal firms like Adhunik Metaliks, Monnet Ispat, Ess Dee Aluminium and others forge path to profit, Raipur, Chhattisgarh

KOLKATA: It's all about 'striking whilst the iron is hot'. A new breed of entrepreneurs has crossed over to the big league by reposing faith in iron and steel at a time when the spotlight was on other sectors.

About a decade and a half ago, when the country was witnessing big investments in telecom, IT and consumer goods, these young, first-generation industrialists, mostly based in the mineral-rich eastern states, started rolling out niche products for which competitors were few and the returns high.

Department of Information Technology expects 11 states to adopt e-payment gateway by March, 2012, Raipur, Chhattisgarh

NEW DELHI: The government will throw open a single payment gateway for e-governance services in 11 states by March, 2012, which will facilitate collection of fees for licences and other chargeable services over the internet.

"We are done with proof of concept with Maharashtra and are ready with standard guidelines to replicate the whole process throughout the country. NSDL has been selected for this service," Department of Information Technology Additional Secretary Shankar Aggarwal told PTI.

Puducherry seeks Centre's help, Raipur, Chhattisgarh

PUDUCHERRY: Puducherry's fight for statehood has gathered momentum with its state association urging the Centre to give it affiliation to BCCI.

Currently, Bihar, Chhattisgarh, Uttaranchal, Arunachal Pradesh, Sikkim, Mizoram, Manipur, Meghalaya and Nagaland - and five union territories - Puducherry, Diu and Daman, Chandigarh, Andaman and Nicobar Islands and Lakshadweep Islands are not affiliated to the BCCI.

Mineral rich states are top choice for investors: DIPP, Raipur, Chhattisgarh


New Delhi: Mineral-rich states Chhattisgarh, Orissa and Madhya Pradesh have caught the fancy of investors, attracting proposals worth Rs 8.06 lakh crore last year from India Inc's nation-wide investment plans of Rs 17.40 lakh crore.

Orissa was the top choice of investors and attracted Rs 3.16 lakh crore, followed by Chhattisgarh - Rs 2.86 crore and Madhya Pradesh, Rs 2.04 lakh crore, as per the data compiled by the Department of Industrial Policy and Promotion (DIPP).

In a power deficit country, electrical equipment emerged as the number one choice of investors.

Chhattisgarh Tourism Board partners with Kuoni Academy, Raipur, Chhattisgarh

Chhattisgarh Tourism Board, the governing body of one on the fastest growing tourism destinations in India, has entered into an agreement with Kouni Academy to train and educate travel agents in India about the tourist attractions in Chhattisgarh aimed at promoting and encouraging tourism in the State. This initiative aims to sensitize and bring about the awareness about the state’s tourist destinations among the key stakeholders.

Mining biggest threat for Jharkhand jumbos, Raipur, Chhattisgarh

The Environment and Forest Minister Jairam Ramesh stated that the rapid growth of mining activities in some Indian States has caused loss of corridors for elephants, resulting in isolation of their population.

Ramesh has also raised concern over the issue, blaming illegal and unplanned mining as the main cause of elephant habitat destruction. According to Secretary to Ramesh, R Vineel Krishna, Ramesh has identified coal mining and iron ore mining as the two “single biggest threats” to elephant corridors in central India.

Coal ministry considering proposal to hike royalty rates on coal and lignite blocks, Raipur, Chhattisgarh

NEW DELHI: The government is considering a proposal to hike royalty rates on coal and lignite blocks. States governments of Jharkhand, Orissa, Chhattisgarh and Madhya Pradesh have asked for revision of rates, coal minister Sriprakash Jaiswal said in Lok Sabha on Wednesday.

The proposal is under consideration of a study group that has collected views of concerned stakeholders. The study group is analysing suggestions received in this regard.

"The new royalty rates would be notified by the government after examining recommendations of the said study group," Jaiswal said.

NMDC announced its Q1 Financial Results for the year 2011-12


The un-audited financial results of the 1st quarter of 2011-12 approved by the Board of Directors of the Company in its meeting held on 28.07.2011 reveal substantial improvement in performance of the Company. The Company’s production and sales of iron ore during the 1st quarter touched 61.62 lakh tonnes and 68.67 lakh tonnes respectively which represent about 7% improvement in both production and sales over that of the corresponding quarter of previous year.

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