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NTPC
to get into nuclear power generation
New Delhi: State run power major NTPC plans
to foray into nuclear power generation but the organisation
says its entry will depend on a number of factors such
as cost economics, fuel availability and necessary approval.
The
company plans to add 2000mw of nuclear capacity during
the 12th Plan period.
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ONGC,
AP refinery to achieve financial closure soon
Hyderabad:
The ONGC chairman Subir Raha has said that the proposed
Kakinada greenfield oil refinery will achieve financial
closure soon and would be completed within 42 months.
He said issues relating to detailed project report and
others would be taken up at the board level soon.
Earlier
this month ONGC signed a memorandum of understanding with
the Andhra Pradesh government to set up a refinery along
with a Special Economic Zone.
This
refinery project is being taken up by the consortium lead
by ONGC, and it includes MRPL, ILFS and the state government
through Andhra Pradesh Industrial Infrastructure Corporation
Ltd.
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Indian
Airlines, Air India to issue IPO by early next year
Mumbai: Air India and Indian Airlines will
come out with an initial public offerings in early 2006
to finance expansion plans, according to the civil aviation
minister Praful Patel.
He
also said the government would soon appoint advisors who
will decide the right valuation and percentage of the
IPO.
Passenger
traffic in India is expected to grow at a 20 percent rate
until 2010.
Patel
said besides converting old planes of Indian Airlines
into freight carriers, the government was also looking
at prospects of leasing out aircraft for cargo.
The
government recently cleared the purchase of 43 aircraft
from European plane maker Airbus for domestic carrier
Indian Airlines to replace its ageing fleet.
Indian
Airlines, which currently has several Boeing Co. 737s
aged between 20-25 years, will receive a mix of short-haul
and medium-haul Airbus A319, A320 and A321s.
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BPCL
revises Bina refinery project cost
Mumbai:
State run Bharat Petroleum Corporation has revised
upwards the cost of its Bina refinery project to Rs 9,100
crore from the original estimate of Rs 6,354 crore. The
project is being set up by Bharat Oman Refineries, the
joint venture company floated by BPCL and Oman Oil Company
Ltd.
The
refinery in which BPCL will hold 50 per cent stake, is
expected to be completed by 2009.
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Tata
Metaliks allotted 350 acres for expansion in West Bengal
Kolkata:
West Bengal Industrial Development Corporation (WBIDC)
has granted 350 acres of land in Kharagpur to Tata Metaliks'
for its expansion and diversification plan.
The company had asked for 500 acres of land, as it said
was not possible to carry out further expansion at the
location.
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Gammon
India to raise up to $100 million
Mumbai:
Construction company Gammon India plans to raise up
to $100 million by issuing foreign currency convertible
bonds or global depository receipts in the international
markets.
The
company's shares ended down 0.81 per cent at Rs377.7 in
a flat Mumbai market on Friday.
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Toyota
mulls using India as global sourcing base for auto parts
Bangalore: Toyota Motor Corp, the world's second
largest car maker, is planning to source auto parts from
Indian suppliers in its factories overseas, and expand
its sourcing base beyond the one unit it owns in India.
Toyota
wants to take advantage of the rising quality of Indian
suppliers and lower wage costs in the South Asian country,
which has been boosting exports of auto parts through
companies such as Bharat Forge Ltd.
According
to the company, it has 80 suppliers in India and they
have all been reporting an improvement in quality audits
and the number of defective or rejected parts, calculated
in parts per million, has dropped to about 30 from about
1,000 when Toyota first started sourcing parts locally.
If
Toyota taps any of the existing suppliers to buy automobile
parts, it will help extend the sourcing business beyond
the Toyota Kirloskar Auto Parts Pvt. unit.
Started
last year, the Toyota auto-parts factory at Bidadi in
Karntaka supplies transmissions to the Japanese company's
factories overseas.
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Kingfisher
Air to use small planes for domestic routes
Mumbai: The Vijay Mallya-promoted private carrier,
Kingfisher Airlines, is planning to acquire smaller aircraft
with 50-80 seat capacity for the domestic routes. The
company has has already placed an order for three A319
aircraft with 144-seat capacity and is evaluating the
prospects of acquiring aircrafts with 50- to 80-seat capacity.
The
airlines also recently decided to purchase five 550-seater
superjumbo Airbus A380s. The airline has a fleet of six
A320s with seating capacity of 174. The airline plans
to expand its fleet to 11 aircraft by January 2005.
In reference to the plans of inducting superjumbo planes
into the Kingfisher Airlines fleet, UB Group chairman
and managing director Vijay Mallya said there would not
be any delay in deliveries of A380s as it is scheduled
for 2010.
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Bharti
Teletech launches set top box
New Delhi: Bharti Teletech, India's largest
fixed line phone manufacturer and flagship of the AirTel
Group, has entered into the manufacture of digital set
top boxes used for the Direct-to-Home (DTH) services with
an initial investment of about Rs 9 crore.
However,
the Bharti Group does not plan to enter the DTH arena
at this juncture.
With
the set top boxes introduced by Bharti, the subscribers
would be able to watch the 33 free-to-air channels of
Prasar Bharati and listen to 12 FM channels.
Currently
Bharti has intorduced two models of set top boxes, costing
Rs2,295 and Rs2,995. The dish antenna would cost about
Rs500. In fact, the company has tied up with few vendors
to supply dish antenna and set top box in a package. The
boxes being imported would be sold under the "Beetel"
brand and the company has fixed a target of selling 200,000
boxes by the year end. The company plans to start manufacturing
the boxes at its two facilities in Ludhiana and Goa by
next year.
The
company has also started talking to various other channnels
like Star, Zee and Sun TV for providing content.
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