Country’s largest steel maker SAIL is planning to spend up to Rs 4,000 crore on the modernization and expansion of its plants in the coming fiscal. The company would fund the capital expenditure through debt. In 2015-16, the public sector undertaking (PSU) had spent Rs 4,483 crore as capital expenditure. Crude steel production of SAIL, which was at 14.3 million tonnes (MT) in FY16, would increase to 21.4 MTPA post expansion in FY17. The PSU’s saleable steel production, which was at 12.4 MT in 2015-16, would augment to 20.2 MTPA post expansion in 2016-17. The hot metal production, which stood at 15.7 MT in FY16, would reach 23.5 MT post expansion.
NMDC has reported 27.10 million tonnes (MT) of iron ore production and logged sales volume of 29.47 MT up to the month of January 2017. The company’s Chhattisgarh mines produced 17.23 MT of iron ore and registered sales volume of 18.90 MT, while Karnataka mines produced 9.87 MT of iron ore and sold 10.57 MT of iron ore up to January 2017. NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.
Tata Power Delhi Distribution (TPDDL), a joint venture (JV) of Tata Power and the Government of Delhi, has launched energy-efficient LED lighting and ceiling fans in association with Energy Efficiency Services under the UJALA scheme for its customers. A nine watt LED bulb will be available at Rs 65 while a 20 watt LED tube light will cost Rs 230. Also, BEE 5 star rated Ceiling Fan will be available at Rs 1,150 per piece.
Sunteck Realty is planning to start a new business vertical of affordable housing. This step has been taken by the company in order to diversify its risk and increase its sales and profits. The estimated amount to be invested by the company will be in tune of Rs 1,000 crore. The projects for affordable housing will be located in Navi Mumbai, Thane, Kalyan and other locations close to Mumbai.
Federal Bank has partnered with online data and information portal Commodity Online for the distribution of loans against warehouse receipts and collateral management services across the country. According to the agreement, Commodity Online will roll out an agri-commodity financing platform through its flagship portal commodityonline.com where farmers and traders can track commodity markets and warehouses online and get financing for their commodities quickly.
Travelport, a leading Travel Commerce Platform providing distribution, technology, payment and other solutions for the global travel industry, has named Tata Consultancy Services (TCS) as its primary technology partner. TCS will partner with Travelport to innovate and shape a superior customer experience through the power of digital technologies. Travelport will also leverage TCS’ extensive mathematical and digital expertise to accelerate the benefits of data and analytics in its business. TCS was selected in recognition of its extensive domain strengths in the global travel industry and its ability to work alongside Travelport with transformative intent and provide scale in application engineering and assurance services.