The Mumbai Metro Rail Corporation (MMRC) may be converted into an autonomous body on the lines of the Delhi Metro Rail Corporation (DMRC), said Rahul Asthana, commissioner MMRDA, the body that currently controls the corporation. If the proposal goes through, then MMRDA would have no direct control on the working of the MMRC except for [...]
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India still has a tremendous potential to grow, but the slow progress in the infrastructure sector was proving to be an impediment, said Lakshmi Mittal, chairman and CEO of steel giant ArcelorMittal. He was in Bhatinda, Punjab in India recently where his company has set up Hindustan Mittal Energy Ltd (HMEL), a joint venture between [...]
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Steel consumption in India will resume its strong growth trends in 2012 and 2013 after the relative slowdown in 2011, according to forecasts released by World Steel Association recently. The April 2012 Short Range Outlook (SRO) released by WSA projects that Indian steel consumption in 2012 could grow by 6.9 per cent to 72.5 million [...]
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The lack of a firm commitment by the Bolivian government on an assured gas supply to the $ 2.1 billion project proposed to be set up by Jindal Steel and Power (JSPL) in Bolivia is making it difficult for the company to firm up plans, according to JSPL CFO Sushil Maroo. “The project was designed [...]
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Work on the new blast furnace (BF8) at the Bhilai Steel Plant took an important step forward with the setting up of the lower tower structure recently. Once completed, BF 8 will be the biggest blast furnace across the whole of SAIL’s operations in India. The furnace shell has a 45 metre height. It consists [...]
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Nearly half of the Rs 4.97 lakh crore investments attracted by Punjab in 2011 was in the real estate sector according to a recent study by the Associated Chambers of Commerce and Industry of India (Assocham). The report, entitled “Growth Agenda for Punjab” noted that the state accounts for a minimal 3.6% of the total [...]
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Steelcast Ltd, a leading Gujarat-based steel castings manufacturer, has announced plans to invest Rs 107 crore with the aim of doubling its current turnover to Rs 400 crore by 2015. The amount will be spent both on expansion and upgradation. The bulk of this amount, around Rs 65 crore, will be invested in expansion of [...]
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The results of the annual Skyscraper Competition conducted by US based eVolvo magazine have just been announced. The competition “seeks to discover young talent, whose ideas will change the way we understand architecture and its relationship with the natural and built environments”. The jury, comprising leaders of the architecture and design fields, selected three winners [...]
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The three way battle to take control of the Bhubaneshwar-based, listed Orissa Sponge Iron & Steel (OSIL) has once again resumed following a March 26 order of the Supreme Court that directed Bhushan Steel to proceed with its pending open offer. It may be recalled that Bhushan Energy, a subsidiary of Bhushan Steel Ltd, had [...]
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UK headquartered JCB, the world’s third-largest manufacturer by volume of construction equipment, reported an annual revenue of £2.75 billion ($4.4 billion) for 2011, a new record for the 66-year old family run business. The company’s sales rose by 34% to 69,100 machines compared to 51,600 the year before, while revenues were up 37%. JCB also [...]
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