The proposal to allow foreign direct investment in the housing and urban infrastructure development sector is likely to come up before the Union Cabinet on Tuesday for its consideration.The proposal envisages one hundred per cent direct investment in housing and urban infrastructure sector with a cap of three years on repatriation of profits on the money invested, sources in the urban development ministry said on Monday.

The matter was referred to a group of ministers (GoM) headed by Jaswant Singh, external affairs minister. The GoM had a meeting in December after which Jethmalani circulated a personal note to the panel members giving them a certain timeframe to give their replies. Failing this, it was construed that they would have nothing to say against the proposal so that it could be sent to the Cabinet for its final approval.

IPCL to scrap cracker unit in phases

Indian Petrochemical Corporation Ltd will phase out its old cracker unitlocated on outskirts of Baroda, an IPCL spokesman said. The unit, having 1,30,000 tonnes of ethylene capacity, would be scrapped in a phased manner and replaced by a unit having higher capacity of 3,00,000 tonnes of ethylene per annum, he told PTI. The feedstock of the new cracker unit would also be naphtha.

IOC begins work on pipeline JV

Indian Oil Corporation has commenced work Rs 500 crore Chennai - Tiruchirapalli - Madurai pipeline project, according to IOC executive director S Rammohan. He said in Tiruchirapalli that the proposed pipeline project with a distance of 500 km would have a design capacity of 1.4 million tonnes per annum from Chennai to Tiruchirapalli, and 0.6 million tonnes per annum from Tiruchirapalli to Madurai.

Una-Bhota highway to be reconstructed

The Himachal Pradesh government has started work on rebuilding Una-Bhota highway at a cost of Rs 6 crore. The project on completion would link the Mewa district with Una, said state education minister Ishwar Dass Dhimanwhile addressing a public meeting.

Action plan for improvement in surface networks

An action plan on traffic and transport management in the national capital has stressed immediate improvement in surface networks. The action plan, prepared by the PHD Chamber of Commerce and Industry (PHDCCI) and submitted to the Delhi government, points out that though long and medium term solutions are being pursued, the emphasis should be on sustained enforcement of the improvements.

`Oldest rly bridge is a dangerous gift'

The `gifting' of the oldest railway bridge in the country, with a life spanning 110 years, to the people of Andhra Pradesh has been postponed. An activist from Andhra Pradesh P Pullarao has claimed that Prime Minister Atal Behari Vajpayee was scheduled to hand over the bridge to the state government on his visit to Rajahmundry on Sunday but the ceremony was taken off his itinerary following a controversy.