Larsen & Toubro’s (L&T) - wholly owned subsidiary - L&T Hydrocarbon Engineering (LTHE) has bagged an onshore EPC contract from Indian Oil Corporation (IOCL) worth around Rs 1,100 crore for setting up a 0.740 MMTPA Fluidised Cracking Unit (FCC) including LPG Treatment Facility at their Bongaigaon Refinery, Assam. The company has won the contract through a competitive bidding process, which was also participated by reputed global EPC organizations.
Facing year-long delay, the Rs 18,000 crore integrated steel plant of state-owned iron ore miner NMDC, coming up at Nagarnar in Chhattisgarh, is likely to be completed by December. The 3 million tonne annual capacity plant is likely to reach 50 per cent production level in the first year itself and at the end of second year it would be 80 per cent plus. The company had completed capital expenditure of Rs 1,434.55 crore till September 2016, of which Rs 1,222.65 crore has been invested in Nagarnar steel plant, Rs 17.39 crore on pallet plant at Donimalai, Rs 75 crore in doubling of KK lines, Rs 7.21 crore on Kumarswamy Mine and Rs 4.76 crore in Bailadilla Deposits.
A green panel has recommended environment clearance (EC) to state-owned steel major SAIL for construction of a pit head coking coal washery in its Tasra Coal Block in Dhanbad, Jharkhand. An Expert Appraisal Committee (EAC) of the Union Environment Ministry had discussed the SAIL’s proposal at earlier meetings and had sought clarifications. The proposal was taken up again recently. Among conditions specified, the EAC has said that the company should install a technology for washery that conforms to Zero Liquid Discharge and provide a thick green belt of 30-45 metre width around the washery to mitigate/check the dust pollution. The company should ensure that transportation of raw coal, cleaning of coal, middling and rejects to be done by rail with wagon loading through silo.
Oil and Natural Gas Corporation (ONGC) has received approval for development of five projects with an aggregate investment of Rs 7327 crore which will lead to production of 14.969 MMT of Oil and 2.972 BCM of Gas. The Board of Directors at its meeting held on February 23, 2017 has approved for the same. The project includes drilling and completion of 31 wells, installation of five new well platforms and revival of one platform.
Tata Steel has received environment clearance (EC) for expansion of its Haldia coke plant in West Bengal, Asia’s biggest standalone unit, from 1.6 million tonnes per annum (MTPA) to 2.2 MTPA, entailing investment of Rs 769.45 crore. The company has been asked to ensure that the coke oven plant meets visible emission standards notified by the ministry and all affluent should be treated and used for dust suppression and green belt development. The company has also been asked to use maximum water from rain harvesting sources and develop green belt in 33 per cent of the plant area.
INOX Leisure has commenced the commercial operations of a Multiplex Cinema Theatre, taken on Lease basis, and located at 4th Floor, Crystal Mall, Airport Road, Jamnagar, Gujarat with effect from February 24, 2017. The said Multiplex Cinema Theatre has 5 screens and 954 seats. The company is now present in 58 cities with 115 Multiplexes, 454 screens and a total seating capacity of 1,15,125 seats across India.
Zydus Cadila has received approvals from the Drug Controller General of India (DCGI), Central Drugs Standard Control Organization (CDSCO) and the Central Drug Laboratory (CDL) to market the Tetravalent Inactivated Influenza vaccine for seasonal flu, VaxiFlu - 4. With this, the company will become the first Indian pharma company and second in the world to launch a Tetravalent Inactivated Influenza vaccine. The vaccine provides protection from the four influenza viruses- H1N1, H3N2, Type B (Brisbane) and Type B (Phuket). VaxiFlu - 4 will be marketed by Zydus Vaxxicare--a division of the group focussing on preventives.
Tata Power Company’s wholly owned subsidiary- Tata Power Renewable Energy (TRPEL) has synchronised its 15 MW solar plant at Belampally in Telangana, thereby starting its commercial operations. The project had been won by TRPEL in the Phase 1 bidding process in Telangana and its commissioning is in keeping with the conditions and timelines in the PPA. With this development, Tata Power's total installed operating capacity crossed 10, 500 MW mark. The solar plant has been built over 80 acres of land and includes an 18 km transmission line. Sale of power from solar plant has been tied up under a 25 year Power Purchase Agreement with the Northern Power Distribution Company of Telangana at a tariff of Rs 5.72.
Power Grid Corporation of India (PGCIL) has entered into loan agreement with Asian Development Bank (ADB) on February 23, 2017 for an amount not exceeding $500 million for part funding of its projects - Green Energy Corridors-ISTS (Part-D); and Scheme 1: Raigarh-Pugalur 6000 MW HVDC System & Scheme 3: Pugalur- Trichur 2000 MW VSC Based HVDC System associated with HVDC Bipole link between Western Region (Raigarh, Chhattisgarh) and Southern Region (Pugalur, Tamil Nadu)- North Trichur (Kerala) Transmission Project.
Jet Airways has entered into a reciprocal codeshare partnership with Hong Kong Airlines, which will enable Indian fliers to travel seamlessly to New Zealand, Japan, Indonesia, Vietnam and Thailand. Codesharing allows an airline to book its passengers on its partner carriers and provide seamless travel to destinations where it has no presence. As part of the partnership, Jet Airways will place its marketing code ‘9W’ on Hong Kong Airlines' flights operating between Hong Kong and Okinawa and Tokyo in Japan, Denpasar in Indonesia, Hanoi in Vietnam, Bangkok in Thailand and Auckland in New Zealand. Hong Kong Airlines in turn, will place its marketing code ‘HX’ on Jet Airways' flights between Hong Kong and Mumbai as well as Delhi.