In order to finance its global business expansion, Canara Bank would issue bonds worth $1 billion from the international market. The company would start the process of the bond issue by holding roadshows in Singapore, Hong Kong and London between May 27 and May 31. The state-run bank would use the fund for growth of its overseas business, which is presently spread across Lond
Tag: expansion
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Minister not satisfied with SAIL’s performance
Union steel Minister Beni Prasad Verma was not satisfied with the performance of Steel Authority of India (SAIL) on the whole and advised the company to take corrective measures immediately. Verma said this after reviewing the March 2013 quarter and the financial year 2012-13 performance of the firm. He expressed his concern on the progress of modernisation and expansion and directed the PSU to bring
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SAIL takes steps to complete modernisation project early
Steel Authority of India (SAIL) is taking steps to ensure that the modernisation work at its IISCO Steel Plant is completed at the earliest. As part of this, CS Verma, Chairman of the firm assigned
separate jobs to different teams formed for this purpose. The company formed different teams and broke all critic
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Coking coal import of SAIL set to rise
The current expansion projects, once completed, would result in a 30 per cent growth in the import of coking coal by Steel Authority of India (SAIL) to feed its increased production capacity. In the past two fiscal years, the firm's coking coal shipments remained largely unchanged at around 10 million tonne. The steelmaker imports three-quarters of its coking coal
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AAI set to get land for two airport expansion projects
According to media reports, the Tamil Nadu government is set to handover land for the expansion of Madurai and Tuticorin airports to the Airports Authority of India (AAI). For the Madurai airport project, the state government is set to issue acquisition notification, while for the Tuticorin project, the process of issuing acquisition notification would be completed soon, reports indic
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Paradip port focuses on mechanising berths
SS Misra, Chairman of Paradip Port Trust (PPT) informed that the port management has given top priority to berth mechanisation and acquisition of two mobile harbour cranes. He said this while explaining the cargo volume handled by the port in April 2013. During the month, the port handled 5.65 million tonne (mn t) of traffic, thus posting 4.24 per cent growth over the same period
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Odisha govt rethinks leasing land for port project
Odisha government reportedly considers whether to postpone the handing over of land for the Rs 10,000-crore expansion of Dhamra port following reports of the promoters reducing their holding in the port venture. Earlier there were reports that Larsen and Toubro (L&T) and Tata Steel , which own 50 per cent each in Dhamra Port Co (DPCL), were planning to sell their entire stak
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SAIL’s expansion project faces delay
The Parliamentary Standing Committee on Coal and Steel expressed concern about the lack of progress in the production performance of the Steel Authority of India (SAIL). During each of the last four years, the firm's production remained stagnant around 14.5 mn t of hot metal, 13.6 mn t of crude steel, 12.8 mn t of saleable stee
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SAIL undertakes expansion project
The Minister of Steel, Beni Prasad Verma informed that the Steel Authority of India Limited (SAIL) has undertaken modernisation and expansion plan at its five integrated steel plants Bhilai Steel Plant (BSP) at Bhilai, Bokaro Steel Plant (BSL) at Bokaro, Rourkela Steel Plant (RSP) at Rourkela, Durgapur Steel Plant (DSP) at Durgapur and IISCO Steel Plant (ISP) at Burnpur and Spe
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Mega port projects up for bidding in 2013-14
During the year 2013-14, mega port projects like the setting up of the fourth container terminal at JN Port, mega container terminal in Chennai and expansion of container terminal in Visakhapatnam may come up for bidding. Union government is said to be taking steps to expedite award of key infrastructure projects, including port projects