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India Business Journal - - NEWS ROUND-UP -

NMDC's first steel to roll out by 2019

Na­tional Min­eral De­vel­op­ment Cor­po­ra­tion (NMDC) will be set­ting up a blast fur­nace at its up­com­ing Na­gar­nar steel plant in Ch­hat­tis­garh by March 2019. The Sta­te­owned miner com­mis­sioned a coke oven fa­cil­ity at the Na­gar­nar last month. The min­ing com­pany's first steel is set to roll out by June 2019, ac­cord­ing to NMDC chair­man and man­ag­ing di­rec­tor N Bai­jen­dra Ku­mar. The min­ing com­pany is in­vest­ing Rs 15,500 crore in the 3-mtpa Na­gar­nar steel plant. Mr Ku­mar has added that NMDC achieved iron ore pro­duc­tion of 35.6 mt and sales of 36 mt, both record­ing all-time highs.

GAIL plans 5,500 km of pipe­lines in 3 years

GAIL In­dia plans to in­crease its pipeline ca­pac­ity by 50 per cent in the com­ing three years, ac­cord­ing to its Chair­man and Man­ag­ing Di­rec­tor B C Tri­pathi. "GAIL aims to add 5,500 km of gas pipe­lines to the ex­ist­ing net­work and leapfrog to ca­pac­ity aug­men­ta­tion by about 50 per cent on the cur­rent base in the next three years in phases," Mr Tri­pathi has said. GAIL's plans fit into In­dia's goals of in­creas­ing de­pen­dence on nat­u­ral gas as a trans­port and cook­ing fuel. Ac­cord­ing to Mr Tri­pathi the com­pany has achieved record PNG con­nec­tions to over 5,00,000 house­holds and es­tab­lished 120 CNG sta­tions dur­ing 2017-18.

BSNL ties up with Un­limit for IoT

BSNL and Reliance Group-pro­moted Un­limit have tied up to pro­vide In­ter­net of Things (IoT) ser­vices to en­ter­prise cus­tomers across the coun­try. Ac­cord­ing to a joint state­ment, Un­limit, an endto-end IoT ser­vice provider, will lever­age BSNL's wire­less net­work foot­print across the coun­try to pro­vide its so­lu­tions and ser­vices across in­dus­tries. The so­lu­tions and ser­vices in­clude man­aged con­nec­tiv­ity, ap­pli­ca­tio­nen­abling plat­form and de­vice man­age­ment and ad­vance an­a­lyt­ics to cus­tomers across in­dus­tries, the state­ment has said. BSNL's con­nec­tiv­ity, es­pe­cially in ru­ral In­dia, will help Un­limit fur­ther pen­e­trate the In­dian en­ter­prise mar­ket, fo­cus­ing on in­dus­tries such as au­to­mo­bile, dig­i­tal man­u­fac­tur­ing, trans­porta­tion and lo­gis­tics, among oth­ers.

BPCL draws up blue­print for petro­chem­i­cals

Bharat Pe­tro­leum Cor­po­ra­tion

(BPCL) is pre­par­ing a strate­gic blue­print to ven­ture into the petro­chem­i­cals busi­ness in a big way. The State-run oil re­finer has taken ini­tial steps to en­ter the petro­chem­i­cals busi­ness by in­vest­ing around Rs 5,000 crore in a Propy­lene De­riv­a­tives Petro­chem­i­cal Project (PDPP) as a part of the In­te­grated Re­fin­ery Ex­pan­sion Project at its Kochi re­fin­ery. The PDPP is slated to start op­er­a­tions by March 2019, pro­duc­ing three spe­cific petro­chem­i­cals. BPCL has also started work on shift­ing some fa­cil­i­ties, such as LPG stor­age tanks, out of the premises of its Mum­bai re­fin­ery to en­hance safety.

CIL to shut 53 un­der­ground mines

Coal In­dia (CIL) will close down 53 of its 174 un­der­ground mines in this fi­nan­cial year, shut­ting those that are ei­ther eco­nom­i­cally un­vi­able or pose safety is­sues. The com­pany had shut 43 such mines in the last fi­nan­cial year. The com­pany

has a to­tal of 369 mines, in­clud­ing 177 open-cast, 18 mixed and 174 un­der­ground. The pro­duc­tion from un­der­ground mines has slid con­sis­tently and stood at 30 mt or 5 per cent of CIL's to­tal pro­duc­tion in 2017-18. The world's largest coal miner has ap­pointed In­dian School of Mines to study the ra­tio­nal­i­sa­tion of its un­der­ground mines.

RCF to in­vest Rs 1,033 cr in Talcher plant

The Cabi­net Com­mit­tee on Eco­nomic Af­fairs has ap­proved an eq­uity in­vest­ment of Rs 1,033.54 crore by Rashtriya Chem­i­cals and Fer­til­iz­ers (RCF) for set­ting up a coal gasi­fi­ca­tion-based fer­tiliser project by Talcher Fer­til­iz­ers (TFL) in Odisha. The cap­i­tal in­fu­sion is ap­prox­i­mately 29.67 per cent of the to­tal project cost. The cap­i­tal ex­pen­di­ture of the project has been pegged at Rs 11,611.48 crore. TFL is a joint ven­ture com­pany of GAIL In­dia, RCF, CIL and Fer­til­izer Cor­po­ra­tion of In­dia (FCIL), in­cor­po­rated in Novem­ber 2015. GAIL, RCF and CIL each have a share­hold­ing of 29.67 per cent and FCIL has 10.99 per cent.

GRSE to ex­pand Ra­jaba­gan dock­yard

Gar­den Reach Ship­builders & En­gi­neers (GRSE) will un­der­take brown­field ex­pan­sion at its Ra­jaba­gan Dock­yard in Kolkata, which cur­rently serves small and medium ves­sels. Ac­cord­ing to GRSE Chair­man and Man­ag­ing Di­rec­tor Rear Ad­mi­ral (Retd) V K Sax­ena, the ex­pan­sion may en­tail an in­vest­ment of around Rs 200 crore, ac­cord­ing to ini­tial es­ti­mates. Con­struc­tion for the pro­posed ex­pan­sion is set to be­gin by the mid­dle of 2019 and ex­pected to be com­pleted in the next three years. GRSE is look­ing to tap South-East Asian, West Asian and Latin Amer­i­can mar­kets for ex­ports through both the com­pet­i­tive bid­ding route as well as on a nom­i­na­tion ba­sis.

HPCL to op­er­ate HMEL's bi­tu­men unit

Hin­dus­tan Pe­tro­leum Cor­po­ra­tion (HPCL) has signed a longterm agree­ment with HPCLMit­tal En­ergy (HMEL) to op­er­ate and main­tain its newly-com­mis­sioned bi­tu­men ter­mi­nal. HMEL, a joint ven­ture be­tween HPCL and Mit­tal En­ergy In­vest­ments, runs a 9-mtpa re­fin­ery in Bathinda in Pun­jab. HMEL re­cently set up a bi­tu­men blow­ing unit of 62.5 tph or 550 mtpa of dif­fer­ent grades of bi­tu­men at its Guru Gobind Singh Re­fin­ery in Bathinda. For stor­ing, han­dling and dis­patch­ing of the prod­uct, HMEL has set up a mar­ket­ing ter­mi­nal to be han­dled by HPCL.

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