Tantia gets multiple projects worth over Rs150 crore
Mumbai: Tantia Constructions said it received multiple projects in Bihar and West Bengal for infrastructure worth Rs159.99 crores in the months of February and March.

The company said it has received a project entailing construction of major state highways in the districts of Buxar and Bhabua from the Central Public Works Department valued at Rs113.18 crore. The project has to be completed in 20 months.

The company has forayed into transmission line space by bagging a project from West Bengal State Electricity Board for 33KV line in Rajarhat in the outskirts of Kolkata. The project is valued at Rs8.20 crore and is to be completed in 8 months.

Tantia Constructions said after the completion of the project, it would qualify for projects having a value up to Rs100 crores.
Further the company has also secured a order for a construction project of proposed 6 lane-road over bridge at Bailey Road in Patna from East Central Railway valued at Rs19.11 crores. The time allotted for the completion of the project is 15 months.

The company has also received another project from Eastern Railways worth Rs 19.50 crores for two regrinding jobs at running track of Kalinarayanpur and Dhubulia in Sealdah-Lalgola section in West Bengal. The project is to be completed in 12 months.
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NTPC to float subsidiary for global operations
Mumbai: National Thermal Power Corporation (NTPC) is planning to float a subsidiary for its international operations since the company has received a few projects overseas. The company is building a 700 MW gas-based power plant in Nigeria and 500 MW thermal plant in Sri Lanka.

NTPC is likely to sign an agreement with the Nigerian government for the $700 million project within a month. The Nigerian government has agreed to provide gas for the project and the electricity generated from the plant will be sold to state-run utilities there.

However, officials nothing has been finalised of the global arm as yet. Once the agreements for the major overseas projects are signed, the company will consider floating a new subsidiary.

In December 2006, NTPC had signed an agreement with Ceylon Electricity Board (CEB) and the Sri Lankan government for setting up a 500 MW plant at Trincomalee. The Sri Lankan project will involve an investment of $500 million and would be implemented by a 50:50 joint venture company formed by NTPC and CEB. NTPC has already shown interest in setting up gas-based power plants in Sri Lanka.

NTPC is also eyeing opportunities in power generation activities in Australia, Indonesia and South Africa. Recently the company submitted a non-binding bid for buying a 685.2 MW Sidi Krir power project in Egypt, owned by British power investment firm Globeleq.
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Bear Stearns hikes stake in Madhucon Projects
Mumbai: Infrastructure developer Madhucon Projects said Bear Stearns & Co. had acquired 5,90,000 shares to raise its stake in the company to 7.63 per cent from 6.03 per cent.
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Kishore Biyani hikes stake in Pantaloon to 6 per cent
Mumbai: Kishore Biyani, among the promoters of Pantaloon Industries, has hiked his stake in the company to over six per cent. Biyani acquired 3.60 lakh equity shares of Pantaloon Industries through inter-se transfer of shares, taking his holding to 6.14 per cent in the company, the company informed the Bombay Stock Exchange.

The transfer among the promoter group was carried out between February 26 and March 1. In a separate deal, Biyani, along with persons acting in concert (PACs), sold 75,900 shares representing 1.29 per cent stake in the company in inter-se transfer.

The PACs include Gopikishan Biyani and Anil Biyani, partners of Bansi Silk Mills along with Kishore Biyani. As on December 31, 2006 promoters and the promoters group held 59.33 per cent stake in Pantaloon Industries.
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Uttam Galva to foray into Ghana
New Delhi: Galvanised steel manufacturer Uttam Galva has entered into a joint venture with UK-based trading company, Liberty Commodities, to build two new steel re-roller mills in Ghana at an investment of $60 million (about Rs 270 c rore).

The joint venture company, Ghana Iron and Steel company (Gisco), would invest $20 million in a 70,000 tonnes per annum hot-dip galvanising line and 2,00,000-2,50,000 tonne per annum cold reversing mill.

The company plans to invest in Ghana through a special purpose vehicle while the debt equity ratio for investment would be 2:1. He said while the hot-dip mill is expected to be operational by the end of this year, the cold-reversing mill is planned for 2008.
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RIL to consider merging with IPCL
Mumbai: The board of directors of Reliance Industries, at its meeting scheduled on March 10, 2007 will consider and recommend the amalgamation of Indian Petrochemicals Corporation with RIL, according to the release issued by the company to BSE.
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REpower board approves Suzlon bid
Mumbai: The supervisory board and management board of REpower Systems AG (WKN 617703) have approved the offer of Suzlon, which provides a takeover price of EUR 126.00 per share (equalling a total value of EUR 1.02 billion), and recommend to accept the offer as for REpower, Suzlon would be an appropriate strategic partner for the accelerated growth of the international wind energy industry and as the offer is EUR 21.00 higher than Areva's competing offer which provides a share price of EUR 105.00 per share.

The complete reasoned opinion is available on the website under the address www.repower.de (quick link "information about the takeover offers of AREVA and Suzlon").

Suzlon Windenergie GmbH is a joint venture between the Indian windturbine manufacturer Suzlon Energy Ltd. and the Portuguese steel and metal building company Martifer which owns 25.4 per cent of the REpower shares.
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Cement makers to pass on benefits of duty reduction to consumers
New Delhi: Cement manufacturers have told Finance Minister P Chidambaram that they would pass on to the consumers, all benefits of any tax concession that the government may consider for bringing down the prices of the construction material.

Manoj Gaur, president of Cement Manufacturers Association, said cement producers had not agreed to cut prices.

Chidambaram had invited a delegation of cement producers on Tuesday in a bid to persuade them to lower the prices as part of efforts to curb inflation.

Gaur said the Indian cement manufacturers are very competitive despite being taxed at the highest rate in the entire southeast Asia, and added that there was no import of the commodity despite it being given the benefit of 'nil' customs duty.
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GAIL to share pipeline with Shell for LNG
Mumbai: GAIL (India) Ltd will share its pipeline network with the Indian arm of Royal Dutch Shell for gas supplies from the oil major's liquefied natural gas (LNG) terminal in India.

The two companies will work on an agreement, which includes giving GAIL access to Shell's LNG terminal in the western state of Gujarat and finalise long-term gas supply arrangements, GAIL said in a statement.

The LNG terminal has an annual capacity of 2.5 million tonnes.
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