At a recent meeting of the high-level committee on manufacturing, Prime Minister Manmohan Singh cleared
a Rs 45,000 crore investment plan of the steel ministry. Singh approved the investment proposal for ultra mega steel plants (UMSP) considering that the expanding infrastructure sector would raise demand for steel in the country. However, Planning Commission and the ministries of coal and mines objected to the approval given by the Prim
Tag: manufacturing
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PM clears Rs 450 bn plan of steel ministry
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ONGC set to award vessel contract to Cochin Shipyard
Media reports indicate that ONGC is in the process of giving a contract to Cochin Shipyard for manufacturing a seismic ship. A seismic vessel carries equipment that sends down sound waves to the sea-bed and capture their reflections. Cables (called ‘streamers’) several kilometre long are laid is the water and an airgun is fired from the vessel. ‘Hydrophones’ on the cables, which lie at regular inter
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WPI inflation falls to 42-month low of 4.7%
Inflation as measured by the Wholesale Price Index (WPI) declined to a 42-month low of 4.7 per cent in May 2013 from 4.89 per cent in the previous month and 7.55 per cent in May 2012. The decline in the prices of manufactured items helped inflation to ease in May even as the price level of food articles rose. The prices of manufactured items declin
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Indian companies shall increasingly adopt LMS
Rahul Himatsingka, CEO, Essar Steel Logistics, explains to Sumantra Das how a robust logistics management system can help companies handle the complex supply chain system efficiently.
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Realty sector attracts $45 mn PE deals in April
Real estate sector attracted $45 million or 4 percent of the aggregate private equity (PE) deals in the country during April 2013. During the month under consideration, the economy witnessed $1.2 billion worth of PE deals through 48 transactions compared to $605 million in April
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CCI approves operation in 25 oil, gas blocks
The Cabinet Committee on Investment (CCI) approved 25 blocks for continued exploration of oil and gas in its latest meeting. These blocks involve a total of over $4.6 billion of investment. Of this, $2.71 billion of investment has already been made and further investment to the extent of $1.9 billion
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Factory output rises a tepid 0.6%
Factory output as measured by the Index of Industrial Production (IIP) grew a marginal 0.6 percent in February 2013 from the year-ago month. The cumulative growth for the period April-February 2012-13 over the corresponding period of the previous year stands at 0.9 percent
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CCI clears Rs 740 bn worth investment so far
Since the setting up of the Cabinet Committee on Investment (CCI) in January 2013, mega projects worth a total of Rs 74,000 crore, have been cleared by the body. These projects were stalled because of lack of statutory clearances. Many projects in the oil and gas sector, with a cumulative investment of $13.42 billion, were held up because of of objections raised by the Defe
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Goa govt prepares draft investment policy
Goa government prepared a draft investment-cum-industrial polic, which laid a special thrust on development of Special Investment Regions (SIRs). The SIRs will attract large investments, economies of scale and world class infrastructure arrangements. SIRs involves special areas demarcated for development with their own industrial, social and urban infras
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Indian steel sector holds strong growth potential
Brazilian steelmaker Gerdau SA hopes that the Indian steel sector may grow sizeably given the current low per capita consumptions in the domestic market. In view of the opportunities in the domestic market, the company plans to expand its footprint in India and it is in active talks with a few Indian steel companies for acquiring either majority stake or entire stake. But it is not know