Thermax receives order to set up captive power plant
Mumbai: Solution provider in energy and environment engineering Thermax has received an order worth Rs119 crore from a leading cement company for setting up a captive power plant.

The order bagged by the company's Cogen department is for setting up of 1x22 MW coal based and 1x15 MW waste heat recovery based captive power plant, the company informed the Bombay Stock Exchange.
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Toyo Engineering bags Rs1,660 crore PTA plant project
Mumbai: Toyo Engineering India has bagged a Rs1,660 crore contract for constructing a purified terephthalic acid (PTA) plant with a capacity of eight lakh MTPA in West Bengal, company sources said. Mitsubishi Chemicals, Japan, is operating the PTA plant with a capacity of 4.7 lakh MTPA in Haldia, West Bengal since 2000.

TEL's scope of work in the contract includes project management, detail engineering, on-shore procurement of equipment and materials and also construction management and supervis ion of the plant, the company said in a release here. The new plant is scheduled to be completed in 28 months time.
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Symphony expands into new 3,500 seater campus
Bangalore: US-based Symphony Services that provides collaborative global outsourcing solutions for the software product development cycle and analytics-based knowledge processes has announced it is moving into a new, four lakh square feet campus here that can seat 3,500 people.

In addition, the company said, it will continue to strengthen its infrastructure and domain and process expertise in its existing centres in the city as well as in Mumbai and Pune.

The company has doubled its employee base since the end of 2004 and expanded into both Pune and Mumbai, senior company executives told a news conference here.
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Chatterjee Group, WB government differences over Haldia Petro continue
Kolkata: The West Bengal Government and The Chatterjee Group, the two main promoters of Haldia Petrochemicals, have not yet sorted out their differences over the induction of Indian Oil as an equity partner in the company. The Principal Bench of the Company Law Board (CLB) had asked the two to resolve their differences after hearing the matter on September 28, last year.

Sources said that both the West Bengal Government and The Chatterjee Group had decided to form a task force that would work out a solution. However, the task of nominating the members has not yet taken off.

Meanwhile, Tarun Das, chairman of Haldia Petrochemicals, has announced that the company is doing well and is in a position to pay dividends to its shareholders.
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Gujarat Ambuja transport union on strike
Mumbai: Gujarat Ambuja Cements' transport union in Himachal Pradesh unit has declared a strike as a result of which the company is facing transportation problems.

The union went on strike on January 29 after which the company sought the Government's intervention. The transporters have not yet resumed work and the company is "exploring all the possible options for their resuming transportation from the company's Himachal unit at the earliest" the company said.
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Hotel Leela Ventures enter into pact with Kempinski Hotels
Thiruvananthapuram: Hotel Leela Venture has entered into a `reservation, sales and marketing franchise' with the Geneva-headquartered Kempinski Hotels.

The agreement will cover Hotel Leela Venture's existing hotels in Mumbai, Bangalore and Kovalam in Kerala, and will also cover all new properties being set up by the company.

The agreement will also cover the hotel in Gurgaon, near New Delhi, which Hotel Leela Venture is to manage. The agreement will be formally signed during next month's ITB travel exhibition in Berlin but will not apply to the Leela group's resort in Goa.

The Leela group's hotels in Mumbai and Bangalore are affiliated to Kempinski Hotels and use the Kempinski name. Once the agreement is signed, the Kempinski name will be incorporated in the name of the Kovalam property and all new properties of the Leela group.
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BSNL's One India may be launched on Friday
Mumbai: BSNL's much-delayed OneIndia plan maybe announced on Friday.

Communications minister Dayanidhi Maran has said STD calls to anywhere in the country under One India will be charged at Re 1. Sources said local calls might be charged at Re 1 as well. The pulse rate for local calls will be 3 minutes. Local call rates are now Rs1.20 per 3 minutes. The pulse rate for STD calls will be one minute.

BSNL is also expected to hike rentals under One India to ensure that BSNL does not incur losses, said sources. BSNL's average revenue per user (ARPU) per month is now around Rs300 for the mobile segment and around Rs500 for fixed line.
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Indoco Remedies plans Rs.42-cr acquisition in Germany
Mumbai: Indoco Remedies is planning to buy out a drug dossier development company in Germany for about Rs42 crore. Indoco had shortlisted proposals from three companies for the proposed acquisition in Germany.

The German dossier development company, having several product licences, would offer a broader portfolio of generics and branded generics readily to Indoco for its entry into European markets, said sources close to the development.

Indoco Remedies, which went public last year, is currently focusing on exports to the US and European markets and has already filed two ANDAs (abbreviated new drug applications) in the US and proposes to file five more this calender year. The market size of these products aggregates to US$1.1bn.

Established in 1947, the company has a good domestic presence with almost 82 per cent of the sales currently accruing from the domestic market.
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Century Textiles to expand cement business in WB
Kolkata: The Rs2,500-crore AV Birla group owned Century Textiles & Industries is planning to set up a standalone cement grinding plant in north Bengal that would produce Century branded cement.

The company is currently purchasing land in the northern part of West Bengal. The cost of the entire project has been pegged at Rs220 crore which the company would raise through internal accruals and partially through debt. The unit would have a grinding capacity of 1.5 million tonnes per year.

Century Textiles has interests in paper and chemicals, apart from textiles, and would supply clinker from its Maihar unit at Madhya Pradesh for this grinding unit. Here it would be either mixed with fly-ash or slag (generated in the steel plants) to produce cement.

Cement is the largest revenue earner for Century Textiles, with its share in the company's total earnings being well over 40 per cent. The company feels that there is a good market for cement in north Bengal as well as in the Northeast.

The announcement is significant since the Aditya Birla group, which will eventually take control of Century Textiles, is engaged in a fierce battle with the world's largest cement maker Holcim, to protect its No 1 slot in Indian market.

Century Textiles had three cement plants called Century Cement (Chhattisgarh), Maihar Cement (MP) and Manickgarh Cement (Maharashtra). This will be the group's first cement venture in West Bengal.
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