Visakhapatnam Steel Plant (VSP) produced 3.81 million tonne (mn t) of hot metal and 3.4 mn t of iron & steel in 2012-13. It is learnt that the company achieved a cumulative sales of Rs 13,650 crore in 2012-13 and its sales was the highest in the month of March 2013 at Rs 2,136 crore. Exports at Rs 601 crore registered a growth of 45 p
Tag: investment
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Govt resolves issues with RIL on CAG audit
Union Petroleum Secretary Vivek Rae informed reporters that the government resolved the audit issue pertaining to the operation of Reliance Industries (RIL)in the Krishna Godavari (KG) D6 basin. Speaking at the sidelines of a CII Annual General Meeting (AGM), Rae said RIL agreed to a Comptroller and Auditor General (CAG) audit on its operation in KG-D6 fi
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Govt identifies 12 coal projects for speedy clearance
Union Cabinet Secretary Ajit Seth informed that the government identified 12 coal mining projects with an annual coal production of 36.9 million tonne (mn t) for expeditious clearance within a month. These projects involve an investment of Rs 1,347 crore. Meanwhile, it may be noted that the Cabinet Committee on Investment (CCI) streamlined the proc
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PM's address at the CII National Conference and Annual General Meeting
I am delighted to be here today to inaugurate the CII annual meeting for 2013. I have always believed that both government and business have to be partners in writing the story of development of this ancient land of ours, and CII has been a greatly valued partner over the past many years.
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Finance Minister welcomes investment from foreign firms
Finance Minister P Chidambaram welcomed investment from foreign insurance, banking and asset management companies in India. During his visit to Tokyo, Japan, he said these companies have shown keen interest to investment in India and they were welcome. Insurance companies, large asset management com
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REC plans to mop up around Rs 350 bn in FY14
In 2013-14, Rural Electrification Corporation (REC)
plans to raise about Rs 35,000-37,000 crore from domestic as well as foreign sources. It may be recalled that the leading state-run infrastructure finance company in the power sector mopped up Rs 31,000 crore in 2012-13. Of the Rs 35,000-37,000 crore that the firm plans to raise in 2013-14, about Rs 5,000 crore may be raise
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2012-13 sees Rs 60 bn worth of IPOs
During 2012-13, a total of 10 companies raised a cumulative Rs 6,059 crore through initial public offerings (IPOs), data available with the stock exchanges show. This is a marginal rise of 4 per cent from the previous year, when 33 companies had together mopped-up Rs 5,808 crore. This is a far cry from a total of Rs 33,183 crore raised through IPOs in 2010-11 by 52 fir
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Infrastructure sector faces funding constraints
Industry players complain that most sources of funding like private equity, capital market, bond issue, bank credit for infrastructure companies have dried up because of high risk perception in the sector. According to Suneet Maheshwari, MD & CEO, L&T Infrastructure Finance, private equity has been scarce and the capital market does not favour infrastructure comp
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Govt may auction 68 blocks under NELP X
Media reports indicate that around 68 oil and gas blocks may be auctioned by the government during the the 10th round of New Exploration Licensing Policy (NELP) in 2013-14. Union petroleum ministry and the Directorate General of Hydrocarbons (DGH) are in the process of securing various clearances for offering the
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NHB issues Rs 6.4 bn worth tax-free bonds
RV Verma, Chairman and Managing Director of National Housing Bank (NHB) issued tax-free bonds worth Rs 644 crore NHB was authorized to raise Rs 5,000 crore through tax free bonds during 2012-13. It had room to mobilise upto Rs 3,750 crore through the recently concluded public issue. Verma informed that the company could have mopped up more funds through this route had it not been