Quick view: SAIL, RINL, MOIL to set up JV for ferro alloy plant

Updated: Dec 25 2013, 10:44am hrs
A three-way joint venture between SAIL, RINL and MOIL to produce ferro alloys is on the cards with the earlier two separately proposed between SAIL-MOIL and MOIL-RINL having virtually been scrapped. State-run MOIL, formerly known as Manganese Ore India, had inked two separate JV pacts with Steel Authority of India (SAIL) and Rashtriya Ispat Nigam (RINL) to set up two ferro alloy plants with a total outlay of R600 crore. A couple of round discussions has already taken place between the three parties for jointly setting up the ferro alloy plant along with a captive power plant. Final decision will be taken in a couple of months time, a source said.

SpiceJet offers discount on advance purchase

Sun Group-owned low-cost carrier SpiceJet on Tuesday launched advance purchase offer that allows passengers to avail up to 65% discounts on ticket prices. The airline is offering over a million tickets, for travel between January 19 and April 15, under the advance purchase offer. One can avail up to 50% discount, as compared to the spot prices, if he or she opts for 30-60 advance purchase under the scheme. The discount increases to 60% and 65% for 60-90 days and 90-110 days advance purchase, respectively, said a spokesperson of the airline. These fares are applicable only on domestic routes.

BHEL wins R1,023-crore contract from Neyveli

State-run BHEL has bagged a R1,023 crore contract from Neyveli Lignite for supplying turbine generator package at a thermal power project in Tamil Nadu. Valued at R1,023 crore, the order has been secured by BHEL from Neyveli Lignite, for their upcoming 1,000 MW Neyveli New Thermal Power Project at Neyveli, Tamil Nadu, BHEL said. BHELs scope of works includes manufacture, supply, erection, testing and commissioning of steam turbine generators & auxiliaries along with associated civil works.

Nasscom helps four start-ups to raise funds

IT body Nasscom has helped four start-ups raise funding of R40 lakh as part of its programme to help entrepreneurs turn their ideas into successful businesses. Four start ups Boutline, Imly, Drawtime and Routo raised R10 lakh each as part of Nasscoms on-the-spot funding event for pre-revenue companies, Nasscom said in a statement. Eight pre-revenue companies were shortlisted from the applications received for the 10,000 start-ups programme, which pitched their business ideas to a panel comprising of 10 investors.

Vikram Solar ties up with GermanPV for modules

Kolkata-based Vikram Solar has tied up with Germany-based GermanPV for supplying solar modules for grid-connected solar park in the European nation. Vikram Solar has entered into a tie up with GermanPV, an energy solution company based out of Germany, for the supply of modules required for 2.45 megawatt (MW) grid-connected solar park constructed and commissioned in Germany. The solar park is located at Osterburg in the district of Stendal, in Saxony-Anhalt, Germany.

HC orders status quo on InOrbits use of plot

The Bombay High Court on Tuesday ordered status quo on a plot belonging to governments City Industrial Development Corporation (CIDCO), used by InOrbit Mall of Raheja Developers in Vashi town of Navi Mumbai. The court was hearing a petition filed by Raheja Developers challenging the decision of CIDCO to take back the open space in front of the mall which was being used by the visitors for the last eight years. A bench headed by Justice S C Dharmadhikari ordered that status quo be maintained in respect of such land and allowed the mall to continue using the place like it did before until the next hearing on January 17.

Higher traction for compact SUVs in 2014

The four-wheeler automobile market in India is likely to witness greater traction for compact sport utility vehicles (SUVs) in the year 2014 after showing good demand in 2013, according to a study done by CarTrade.com, an online portal for buying and selling of cars. The host of upcoming launches from various players like XA Alpha from Maruti Suzuki, TBA of Hyundai and Vezel from Honda is expected to lend some excitement to the compact SUV segment, the study said. The year 2013 has been also replete with some interesting launches in the segment.

Woodland to open first own outlet in Hong Kong

Footwear and apparel brand Woodland said it will open its first independent outlet in Hong Kong and a warehouse facility in Dubai, even as it looks to become a R1,000-crore brand in current fiscal. On domestic front, Aero Group promoted flagship brand will also add 60 more outlets, involving capital outlay of about R100 crore, in next one year. We will soon set up our first independent outlet of about 1,000 square feet in Hong Kong, Woodland Shoes MD Harkirat Singh said.