Hindustan Petroleum Corporation (HPCL) has received Environment Clearance (EC) for expansion of its Mumbai refinery in Maharashtra, entailing an investment of Rs 3,846 crore. With the proposed expansion, the company’s Mumbai refinery will be able to produce gasoline and diesel meeting Euro IV quality specifications, besides other petroleum products like LPG, Naphtha, Kerosene, ATF, Fuel oil and Sulphur and can meet the current market demands. The proposal is to expand the refining capacity of Mumbai refinery located in Chembur district from 7.5 million tonnes per annum (MTPA) up to 9.5 MTPA including Propylene Recovery Unit (PRU) and revamp of existing Captive Power Plant (CPP).
NBCC has signed an agreement with the Jammu and Kashmir government and Tourism Ministry for integrated development of tourist facilities in the state at a cost of Rs 97 crore. A tripartite Memorandum of Understanding (MoU) for this project has been signed today between Ministry of Tourism, NBCC and the state government. NBCC has secured the total business of approximately Rs 187.49 crore in the month of January, 2017.
Titagarh Wagons has received Letter of Intent (LoI) from the National Institute of Ocean Technology under the Ministry of Earth Sciences, Government of India for design, construction and delivery of two Coastal Research Vessels valued at about Rs 100 crore. The above order is in consolidation of the order book position of the Shipbuilding vertical of the company.
Bank of Maharashtra (BoM) has entered into a corporate agency agreement with Cigna TTK Health for distribution of the latter’s products in the bank’s branches. The bank will offer Cigna TTK’s health insurance products to its two crore customers through its network of over 1,896 branches. The bank has recently signed a similar agreement with Future Generali India Insurance to offer its customers non-life insurance products of the insurer.
India’s third largest private bank, Axis Bank has tied up with Earthport Plc, a cross-border payment network, to enable faster outbound cross-border payments for its customers through Earthport’s state-of-the-art global payments network. Axis Bank has become the first bank in India to connect with Earthport’s global payments network, which spans over 60 countries. The Bank joins a growing number of major banks across the globe that can, through a single connection with Earthport, send payments seamlessly to almost any bank account in the world on behalf of their clients, while delivering a faster, more efficient and cost-effective service.
NewU, a beauty retail venture by homegrown FMCG major Dabur India is bringing Sri Lankan ayurvedic beauty brand Spice Island to India to strengthen its portfolio. Spice Island, which will be retailed exclusively at NewU outlets, will have a range of premium skin care, bath and body care, and hair care products.