Media reports indicate that Krishnapatnam Port Company is holding discussion with some private equity funds to offload 6 percent stake and thereby mop up Rs 1,200 cr. The company wants to raise capital in order to expand the capacity of the port to 75 mn tonne from the current 50 mn tonne. It has plans to ramp up capacities to 100
Tag: expansion
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VPT faces delay in implementing key projects
Visakhapatnam Port Trust (VPT) may find it difficult to achieve its planned capacity increase to 150 million tonne by 2020 as several port projects are facing delay. The company planned to achieve this capacity expansion through an estimated investment of Rs 14,000 crore. The port authority is facing implementation delay for thre
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SAIL to take a hit from rupee depreciation
Agency reports indicate that Steel Authority of India (SAIL) would take a hit of roughly around Rs 125-130 crore on an annual basis for every one rupee depreciation. But the falling price of the coking coal, a key input in steel-making, may reduce the impact of rupee depreciation on the finances of the company. SAIL requires to import around 10 million tonne of coking coal
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Administration wants NHAI to spare land for airport project
In order to enable expansion of Mysore airport, the local administration asked National Highways Authority of India (NHAI) to spare a chunk of land while upgrading a stretch of NH-212 between Mysore and Nanjangud. The district administration asked NHAI to spare the stretch between Mysore and Kadkola and launch the upgradation works from Kadkola onwards, as it will help in airpo
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CSL mulls Rs 20 bn investment to raise capacity
Media reports indicate that Cochin Shipyard (CSL) would invest almost Rs 2,000 crore towards its capacity expansion plan in the coming years by raising funds through an initial public offering (IPO). The company would raise part of the funds needed for this investment through the proposed IPO. The capacity expansion plan of the firm is part of its ambition to become a leading international shipbuilding and repair yard.
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OIL plans Rs 120 bn investment in North East till FY17
Sunil Kumar Srivastava, Chairman and MD of Oil India (OIL) informed reporters that the firm earmarked Rs 12,000 crore investment for its projects in North East out of the Rs 19,000 crore capital expenditure planned in the 12th Five-Year Plan. The company planned to invest Rs 19,000 crore on expansion of exploration work and diversification of business during 2012-
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Steel output rises 6% for SAIL in June quarter
During Apr-Jun 2013, output of saleable steel rose 6 percent to 3.2 million tonne (mn t) from the year-ago period for Steel Authority of India (SAIL). Production of value added steel touched the best ever Q1 mark, at 1.28 mn t, a year-on-year growth of 4 percent. Across the company's various units, new projects worth around Rs 2,700 crore commenced operation betw
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Sanghi to invest Rs 1.5 bn on ships, jetties
Media reports suggest that Sanghi Cement would invest Rs 150 crore for buying ships and for setting up new jetties or terminals. The company would spend Rs 100 crore on its Mumbai jetty in the next three years. Sanghi Industries has a captive jetty near its cement plant in Abdasa, Kutch and a sea terminal at Navlakhi port of Gujarat Maritime Board (GMB) in Rajk
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Cabinet takes steps to expedite highway projects
In a move that may expedite implementation of highway projects in the country, the union cabinet waived environmental approval for highway projects up to 100 km in length. The government so far waives green nod for highway construction up to 30 km. This has led to huge delay in the implementation of several projects. Following the relaxation of norms, at least 70 percent of projects to be awarded this year under the engi
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India steel output rises 3% in 5 months to May
Data from the World Steel Association (WSA) shows that India's steel output rose 3 percent to 33.5 million tonne during the first five months of this year (Jan-May 2013). This is well above the world average growth rate of 2.1 percent at 658 million tonne. In May 2013, India's steel output expanded at a lower rate of 1.5 percent as against the global growth rate of 2.6 percent. During the month, India produced 6.73 million tonn