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Monday, 28 Jan 2013
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FDI News

IKEA gets FIPB Nod
The Foreign Investment Promotion Board (FIPB) approved Swedish home furnishing retailer IKEA’s revised Rs 10,500 crore investment proposal to set up 25 retail stores in India. Ikea has also been permitted to run its signature restaurants and cafes in its proposed furniture marts.

DP World to invest in JNPT berth
DP World of Dubai plans to bring in Rs 440 crore as equity for the development of container terminal project at Jawaharlal Nehru Port. The JNPT berth project was awarded to DP World’s Indian subsidiary Hindustan Ports recently.

The development cost of the 330 meter berth is expected in the range of Rs 900 crore. On completion, the berth will have an annual capacity to handle 8 lakh TEUs.

Manufacturing News

VE Commercial unveils investment plans
VE Commercial Vehicles, a joint venture between Sweden’s Volvo group and Eicher Motors has drawn up Rs 1200 crore expansion plans at its Pithampur plant in Madhya Pradesh. VE Commercial intends to raise the trucks and buses production capacity from 5,500 units a month to 6,500 units a month by March 2014. VE Commercial also plans to introduce new models during the year.

NV Group plans capacity expansion
NV Group, a Delhi-based distiller, plans to invest Rs 500 crore to increase its capacity and to set up two new distilleries - in Assam and Andhra Pradesh.

Bhushan Steel to set up CRNGO complex
Bhushan Steel got approval from its Board of Directors for setting up of a 0.35 million tpa Cold Rolling cum Electrical Steel (CRNGO) complex in Orissa. The CRNGO complex is coming up with an investment of Rs 1, 560 crore.

Infrastructure News

CIDCO invites RfPs for Navi Mumbai Metro
The City & Industrial Development Corporation (CIDCO) of Maharashtra has invited RfPs for Belapur-Pendhar metro rail project at Navi Mumbai. Scope of the tender - execution of the Navi Mumbai

Metro Line 1 and rail systems maintenance on turnkey basis for three years.

The Belapur-Pendhar metro rail project is estimated to cost Rs 1,020 crore. The last date for submission of RfPs is 22 April 2013.

KIAL invites RfQs for Kannur airport
Kannur International Airport (KIAL) has invited RfQs to develop Kannur airport through PPP mode in Kerala. The Kannur airport project is estimated to cost Rs 700 crore and to be completed within 30 months. The last date for submission of RfQs is 14 February 2013.

Versova-Bandra Sea Link gets CRZ nod
On 24 January 2013 the MoEF expert appraisal committee on Coastal Regulation Zone (CRZ) approved the Rs 4,045 crore Versova-Bandra Sea link project in Mumbai. The Maharashtra State Road Development Corporation (MSRDC) will implement the 10 km Versova-Bandra sea link project. The Versova-Bandra Sea Link will have 4+4 lanes on both the sides with 900 mtrs into sea, 390 mtrs slit road with no cut, cover and reclamation and traffic dispersal at Joggers Park and Juhu Koliwada.

NBCC takes up re-development in Delhi
The National Buildings Construction Corporation (NBCC) has invited bids on behalf of Ministry of Urban Development for re-development work at Netaji Nagar, Delhi. The project is estimated at Rs 3,282 crore and expected completion within 60 months. The last date for submission of bids is 12 February 2013.


Tata JV secures freight corridor contract
Tata-Aldesa JV between Tata Projects India and Aldesa of Spain, was awarded a Rs 3,300 crore freight corridor contract by the Dedicated Freight Corridor Corporation of India (DFCC) for constructing a 343-km double track line between Bhaupur (Kanpur) and Khurja in Uttar Pradesh.

Energy News

JSPL bags transmission tower order
Jindal Steel Power (JSPL) has bagged Rs 500 crore order to supply 80,000 tonne of steel, which will be used in setting up two transmission towers in Southern India. JSPL will be supplying rolled back angle sections for tower packages associated with 765 KV d/c current Vamgiri-Khammam-Hyderabad transmission line and 765 KV d/c Nagapattinam-Salem-Madhugiri transmission line.

Mining News

Sandur Manganese get SC go ahead
On 24 January 2013, the Supreme Court’s monitoring committee gave permission to Sandur Manganese and Iron Ores to resume mining immediately in Karnataka. However, Sandur Manganese’s production capacity has been restricted to 0.74 million tpa for iron ore and 0.1874 million tpa for manganese ore to meet the apex court fixed upper ceiling of 30 million tpa production from Karnataka. On 29 July 2011, the Supreme Court had suspended all mining operations in Bellary district of Karnataka (including Sandur Manganese’s mining operations) due to environmental degradation of the areas.

State @ Glance

Tamil Nadu Highway Policy
Tamil Nadu Government on 23 January 2013 decided to introduce a five—year ‘Performance Based Maintenance Contract’ for road projects in Tamil Nadu. Under the scheme, road maintenance activity will be taken up under a single contract for five years. In phase-I , the ‘Performance Based Maintenance’ scheme will be implemented on a pilot basis on 191 km of highway roads and 185.98 km of main roads in Coimbatore district.

Project Speed breakers:

Hero MotoCorp Plant delayed
Hero MotoCorp is forced to postpone the commissioning of its upcoming plant in Gujarat due to delay in land acquisition to the second quarter of 2014-15. Out of the total 250 acres of land only 130 acres has been acquired so far, with a capacity of 1.2 million units a year.
Quote of the week:
Projex Weekly - Anand_Sharma - ProjectsToday

"I admit that last year was a difficult year. It was because of perception, which was based on some misgivings and those that were based on some discourse that took place...But now I can see a turning taking place, I see a renewed interest, I see a hope that 2013 will be a better year."- Anand Sharma, Minister of Commerce and Industry


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