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. BHEL’s 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 Nasscom’s on-the-spot funding event for