New Cement Plant for Penna Cemnts in pune

Penna Cement, one of the largest cement companies in the private sector with an installed capacity of 7 million tpa, is planning to set up a 0.7-million tpa cement grinding unit at Daund in Pune district of Maharashtra. The unit will be set up on 23 acres of land. The estimated cost of the project is Rs 200 crore. Gannon Dunkerley & Co. Ltd is the contractor and Walchandnagar Industries the machinery supplier. While land for the project has been acquired, environment clearance is awaited. Work on the project is expected to start by September.

Rays Power wins contract from Delhi Metro

Rays Power Experts announced on 1 April, that it had won a contract from Delhi Metro.

According to the contract, the solar power solutions provider will be setting up a seven MW solar rooftop photovoltaic project at selected stations and sites.

The company will be constructing and commissioning the project for DMRC selected stations and sites. It is a tariff-based project at a consistent tariff of Rs 6.248 per unit for a duration of 25 years.

With this contract, Rays Power Experts will be the only company to build one of the largest solar rooftop PV projects in Delhi for DMRC.

Krishana Phoschem to 100 Crores in Jhabua District of Madhya Pradesh

Krishana Phoschem Ltd, India’s only private sector producer of beneficiated rock phosphate through floatation process, is setting up a 6,600-tpa ferrous sulphate unit. The unit will come up at Meghnagar in Jhabua district of Madhya Pradesh. The Rs.100-crore project will come up on 30,000 sq. metres of land which has been acquired. The consultant, civil contractor and machinery supplier are yet to be finalised. Work is expected to commence by June.

Ramagundam Fertilizers and Chemical Ltd - National Fertilisers Ltd, Engineers India Ltd and Fertilizer Corporation of India Ltd to form JV

India’s public sector entities National Fertilisers Ltd, Engineers India Ltd and Fertiliser Corporation of India Ltd have signed an agreement to form a joint venture company for setting up new ammonia and urea plants at the existing site of the Ramagundam Fertiliser Plant in Karim Nagar district in the newly formed state of Telangana in South India.
The new company is called Ramagundam Fertilisers and Chemicals Ltd and the two new plants will have 2,200 tpd and 3,850 tpd capacity, respectively.
As per the joint venture agreement, NFL will provide marketing services to the joint venture company and EIL will provide engineering, procurement, construction and management consultancy services for the project.
The revived plant will help increase indigenous urea production in India and will be a step forward in making the country self-reliant in terms of urea requirements. The plant having a capacity of 1.27 million tpa of urea will be based on natural gas as feedstock. Natural gas for the plant will come from the proposed Mallavaram-Bhilwara pipeline and raw water will be fed from Sripada Yellampally Barrage on Godavari river.
The project is estimated to cost Rs.5,000 crore, which is being funded in a debt-equity ratio of 70:30. While NFL and EIL are contributing equity of 26 per cent each, FCIL will be contributing 11 per cent. The balance equity is in the process of being tied up. The project is targeted to be completed in 2018.

Welspun plans 100 MW solar plant in Tamil Nadu

Welspun Renewables has signed a power purchase agreement (PPA) with the Tamil Nadu Generation and Distribution Corporation (TANGEDCO) for setting up a 100 MW solar project in the state.

So far, the government has signed 146 MW of PPAs under the existing solar power purchase programme and now Welspun’s 100 MW is among these PPAs.

As per the scheme, the developers who set up projects before September will sell their power to TANGEDCO at a rate of Rs 7.01 a kWhr.

Jeweller GRT (15 MW) and the Andhra-based SSNR Power (10 MW) are among the other companies who have signed PPAs.

Amrita TBI to invest over $150,000 in five start-ups

Amrita Technology Business Incubator (TBI), the non-profit incubator supported by the government and Amrita University, has chosen India’s top 5 start-up companies to invest over $150,000. The start-ups were chosen in the third edition of the incubator’s annual event called ‘The TBI Pitch Fest 15’ conducted at the Amrita Vishwa Vidyapeetham, Bengaluru campus. This year’s event received over 450 online registrations of which 380 were IT related start-ups and was attended by over 1,500 innovation enthusiasts from the start-up eco-system.

“The five finalists who will receive a total of Rs. 1 crore in seed funding are Pingbits, StratDecider Analytics Private Ltd, Velnatural Fibers, Shradhanjanli and Discover Dollar Technologies. With the exception of Velnatural Fibres, the other four are IT product and services start-ups,” Snehal Shetty, Vice President, Amrita TBI told BusinessLine . Besides Shetty, the other judges for the event were Nikhil Agarwal and Subranil Gangabasi from the Entrepreneur Café; Abhinav Chaturvedi, Vice-President, Accel Partners; and the CEO and Director of Amrita TBI.

FlyDubai launches Chennai-Dubai flights

FlyDubai, on Wednesday, announced the launch of its service between Chennai and Dubai. The low cost carrier of Dubai will operate three flights a week between the two cities starting from 31 March 2015.

It has announced an economy class return fare at Rs.14,000 including 20kg checked baggage from Chennai, while business class return fares will start at Rs.29,900 and are inclusive of all taxes and 40kg checked baggage.

It will operate flights from Chennai to Dubai on Wednesday, Friday and Sunday, and Dubai to Chennai on Tuesday, Thursday and Saturday.

“We may not be the cheapest, but it is a competitive fare on this route,” said Sudhir Sudhir Sreedharan, Senior Vice President, Commercial (GCC, Subcontinent, Africa), FlyDubai.

According to leading travel portal Cleartrip, For Chennai to Dubai, the lowest (all-inclusive) round trip fare per person, for travel on April 23, 2015, was about Rs.16,800.

Mr.Sreedharan said FlyDubai had been sustaining a capacity in excess of 90 per cent in its flights connecting Indian cities. It operates 29 flights a week in India and Chennai was its 8th destination.

Rolls-Royce to strengthen capability

Rolls-Royce today said it would enhance its engineering capability in India with plans for a facility here that will employ 500 people by the end of 2017. The work done at the facility will include aerospace engineering for customers in the region as well as support for Rolls-Royce's regional supplier base, company officials said. It will also include development of new tools and technologies that make best use of the capabilities existing in India, they said.

"When we look at India, when we look at what government is doing, when we look at initiatives being taken and what direction India is taking, it is absolutely important we build ourselves in India and serve India as India grows," Rolls-Royce President (India & South Asia) Kishore Jayaraman told reporters here.

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CAT exam begins, first day passes without any barrier

New Delhi 28 Oct 2010: The first day of the online Common Admission Test conducted by the Indian Institute of Management on Wednesday went without any technical glitches. The CAT online exam will continue till November 24. This is the second year that CAT exams are being conducted online. Last year, major technical glitches forced over 8,000 students to retake the prestigious examination . However, with longer operational trials and technical preparedness, the tests are expected to be smooth this year. A practice test paper was also released earlier by Prometric, the US-based IT firm responsible for the online format. "This year, the number of technical problems faced by test takers was fewer than last year. The support staff at the test venues was better equipped to handle the glitches this time round," Vinayak Kudva, product head at CAT coaching institute IMS, told the sources. With around two lakh students appearing for the exams this year, Kudva advises students to be prepared to face any kind of technical problems. "I would recommend students to be mentally prepared for technical glitches and understand that their chances will not get hampered by it," Kudva said. The tests, to be conducted at 78 centers across 33 cities in a staggered format, will conclude on November 24. A total of 204,267 candidates have registered for CAT 2010, with the highest number of registration from Maharashtra where 30,296 candidates have registered. Forty different sets of question papers have been prepared for the exam -- the results for which will be declared January 12, 2011.