He also said, “Lowering of basmati MEP is an issue which we are willing to consider straightaway, and something can be done.”
—PTI
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Finolex eyes Rs600 cr from EHV cable business
Mumbai: Pune-based electrical and communication cables manufacturer, Finolex Cables Ltd, is targeting a Rs600 crore revenue from its upcoming extra high voltage cable (EHVC) plant, a top company official said.
“In the first year of production, the plant is likely to generate a revenue of Rs250 crore, but we expect an annual revenue of Rs600 crore from the plant at its full capacity,” managing director Deepak K. Chhabria said.
The plant was likely to achieve full scalability in three years, he said.
With a 1,000km capacity per year, the plant is expected to start production over the next 18 months, he said.
—PTI
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India may get away with crisis ‘lightly’: Plan panel
New Delhi: India will get away lightly with the global financial meltdown, which has pushed the economies of the developed world into a recession, according to the Planning Commission.
“The international situation has changed ...India could get away lightly due to its limited exposure in the international market,” the commission said in its recent analysis on the impact of global financial crisis on India.
Pointing out that India is not immune from the happenings in the international arena, it said, “If there is a decline in the capital inflow, as a result of the foreign investors’ need for liquidity, the stock markets would get affected.”
—PTI
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Falling crude prices will not impact CTL project
New Delhi: Despite the fall in global crude oil prices, the government is going ahead with its ambitious coal-to-liquid (CTL) project, with its technical advisors suggesting that firms such as GAIL (India) Ltd, Jindal Steel and Power Ltd, GMR group and Tata Group’s Strategic Energy have proper technologies.
Converting coal into liquid crude oil is thought to be viable only if the oil is sold at a price not less than $80 per barrel. But despite international prices falling to $50 a barrel, the government planners are keen to diversify the energy basket and start at least one CTL pilot soon, official sources said.
—PTI
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Jhajjar plant: land acquisition completed
Chandigarh: The Haryana government has completed acquisition of 1,115 acres of land for the establishment of a 1,320MW thermal power plant to come up at Jhajjar, a Haryana Power Generation Corp. Ltd spokesperson said here on Sunday. With the acquisition, the government is fast nearing the process of completion of the facilitation committed in the power purchase agreement, the spokesperson said.
—PTI
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TCS’ passport project set to start from March
Kolkata: The Tata Consultancy Services Ltd (TCS) is set to roll out a Rs1,000 crore Passport Seva Project from March 2009, which would have a nation-wide presence by the year-end.