Corporate Results of over 2500 companies Saturday, November 20, 1999
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Briefing 

 
Special freight hike on washed coal withdrawn
Railways on Friday withdrew the special freight hike imposed on "washed coal" moved from collieries to power houses and steel plants. Announcing the decision in New Delhi, Union railway minister Mamata Banerjee said it would give relief to the users of the "washed coal" to the extent of two to four per cent. The freight re-classification of the washed coal from collieries was raised by one step in the last Railway budget effective from April 1999. Since then, the hike was being criticised by the users, specially the big power houses, which had been pressing for its withdrawal.

Proposals on mini-airports
The Karnataka government is considering a proposal to build mini airports in almost all the districts of the state, minister of state for infrastructure development T John said in Bangalore on Friday. He told reporters here that private parties would be involved in developing mini-airports but added that no survey had been conducted so far. Foreign investors were willing to finance them, he said. John said the joint venture partner for the Bangalore international airport project at Devanahalli, had not yet been decided. The project was before the Centre. On the mega Bangalore-Mysore express highway project, he said discussions would be held with its promoters Kalyani group of companies on the extent of land required by them to build townships along the highway.

GVK Power to expand capacity
CMS Energy has secured the approval from Andhra Pradesh government to expand the capacity of the GVK combined cycle power project from 235 to 606 mw, a top company official said in Chennai on Friday. "As against the initial proposal of doubling capacity, we have decided to increase capacity by 371 mw at a cost of about $210 million (about Rs 900 crore)," Doris F Galvin, senior vice-president of CMS Enterprises, a subsidiary of the $6billion company told reporters here. Asked why the company, which holds 25.3 per cent stake in the GVK project at Jegurupadu, decided to go for such a large capacity expansion, she said it was designed for achieving economies of scale. "The state government asked us to offer electricity at a lower cost and we could do this only by expanding capacity as this would give us economies of scale," she said.

Severe power shortage in Gujarat
Sudden increase in the demand for electricity in the farming and industrial sectors after diwali has compelled Gujarat Electricity Board (GEB) to seek additional power from the northern grid and neighbouring states, GEB sources said in Baroda on Friday. With increase in demand for electricity going up which is not matched by increase in power generation, position may become critical in the days to come, power experts have cautioned. The northern grid, which has a surplus during the daytime, provides additional supply of about 250 mw to Gujarat, which is routed through the western grid. The demand for electricity has touched 6300 mw in the state, sources said. Due to poor quality of coal and lignite, GEB has not been in a position to ensure maximum power generation from its coal-based and lignite-based thermal power stations located at Ukai, Gandhinagar, Wanakbori, Sikka, Panandhro and elsewhere, sources said.

Rites signs MoU for ropeways projects
Bharat Yantra Nigam (BYN), a public sector holding company under ministry of industry, has entered into a memorandum of understanding (MoU) with Rails India Technical and Economic Services Limited (Rites) for ropeway projects in the country. According to the terms of the MoU, Rites would prepare detailed feasibility reports covering site selection and project management of ropeway projects. BYN would provide equipment and undertake construction services to ensure complete implementation of the projects.

Protest on NTPC disinvestment move
Employees of Ramagundam power project in Hydearbad on Friday registered their opposition to the Central government's reported move to privatise and disinvest the profit-making mega power stations of NTPC. Employees in response to a call given by Hind Mazdoor Sabha attended office by wearing black badges as a preliminary step. NTPC has drawn up a very ambitious plan to become a 30,000 plus megawatt company by year 2007 and to achieve this, many new projects are on the anvil and under various stages of approval.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.

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