New Veeranam Scheme Feasible: TN Govt

Updated: Jan 30 2003, 05:30am hrs
The Tamil Nadu government on Wednesday asserted that the new Veeranam scheme, to meet the drinking water requirements of the metropolis was feasible. The scheme aimed at bringing water from Veeranam lake, located at Senthathope, about 200 km from here. Intervening during the debate on the motion of thanks to Governor for his address, Chief Minister J Jayalalithaa, asked "if the scheme is not feasible, do you think we will implement such a massive scheme, when the state is facing a finance crunch".

Kerala Govt To Place All ADB Papers In House
Kerala government on Wednesday made it clear that it would soon disclose all details pertaining the Asian Development Bank (ADB) loan to the state in the Assembly and facilitate a threadbare discussion on it. In an intervention during question hour, Chief Minister AK Antony said the government was prepared for a discussion on the matter on an earlier day decided by the speaker.

CIAL Expects Rs 4.5 Cr To Rs 8 Cr Profit
Making an impressive turnaround for the first time in three years, Cochin International Airport Ltd (CIAL), the airport company of the Nedumbassery International Airport, was expecting Rs 4.5 to Rs 8 crore profit in the current fiscal ending March 2003, airport company's top executive said. The projected profit during the year was Rs 1 crore. But the airport's performance during the past nine months was "very good" making the company peg up its profit expectations, company managing director C Babu Rajeev told a press conference at the airport.

Kerala Told To Keep Weir Works Across Bhavani In Abeyance
Union environment ministry has asked Kerala government to keep in abeyance and stop the work forthwith the construction of a weir and leading channel across Bhavani river. A telegram to this effect has been sent Oon Tuesday night by J P Mishra, assistant inspector general of forests, Delhi, to principal secretary and principal chief conservator of forests, Kerala, according to Pongalur N Palanisamy, convenor of Bhavani River Water Protection all-party committee of Coimbatore-Erode districts.

SIA To Begin Direct Flights To Bangalore
Singapore Airlines(SIA) said on Wednesday that it will launch direct flights to Bangalore from May 1, this year. The airline would operate thrice-weekly flights to the South Indian city using a Boeing 777 aircraft. Bangalore will be SIA's fifth destination in the country joining New Delhi, Mumbai, Chennai and Kolkata. The launch of the new service would increase the airline's total weekly direct flights to 27, with its wholly-owned subsidiary Silkair operating 10 services a week to Hyderabad, Kochi and Thiruvanthapuram.

No Move To Privatise Rivers: Minister
The United Democratic Front (UDF) government in Kerala has no plan to privatise rivers, state irrigation minister T M Jacob told the state Assembly on Wednesday. Though the government had advertised an expression of interest on a proposal to set up an industrial water supply scheme utilising Periyar waters, so far no tender had been floated in this regard, he said in reply to questions.

Andhra Pradesh Launches E-procurement
The Andhra Pradesh on Wednesday launched `E-procurement' project, an electronic marketplace providing online tendering, evaluation and awarding of contracts for government works. The project, launched by roads and buildings minister T Nageshwar Rao at state secretariat in Hyderabad will facilitate tendering process going online right from the notification stage to awarding of contract. The filing of tenders, registration, technical and commerial evaluation and even the payment of EMD (earnest money deposit) could be done electronically, the minister said speaking on the occasion.

Ramco Industries Q3 Net Up 41%
Ramco Industries Ltd has reported a net profit of Rs 3.61 crore for the third quarter ended December 2002, as against Rs 2.56 crore during the corresponding period last year, an increase of 41 per cent. Net sales stood at Rs 31.36 crore (Rs 28.89 crore). Total expenditure was at Rs 24.30 crore (Rs 22.49 crore). Paid-up equity share capital remained unchanged at Rs 4.33 crore.

ALF's Board Okays Issue Of Debentures
The board of directors of Ashok Leyland Finance Ltd (ALF) has approved the issue of secured redeemable non-convertible debentures to the extent of Rs 200 crore consisting of short-term and medium-term papers. The debentures would be issued on private placement basis to mutual funds, banks, financial institutions etc. According to company officials, the Rs 100- crore short- term and Rs 100 crore medium-term debentures have already been rated by Crisil. The papers are expected to hit the market shortly.

BDHC To Offer Improved Visa Application Facilities
The British Deputy High Commission (BDHC) in Chennai will offer improved visa application facilities and procedures from February 10 for customers across south India. New application centres would be opened in Chennai, Bangalore and Hyderabad. According to a statement, the improved service has been developed as part of the high commission's efforts to make the UK visa services more accessible to customers. From February 10, applicants from the south can lodge their papers at any of the visa application centres instead of filing them at the BDHC in Chennai.

`IIT 50 Celebrations' On Feb 16 In Bangalore
`IIT 50 Celebrations', an event to commemorate the golden anniversary of Indian Institute of Technology (IIT) would be held in Bangalore on February 16. The event would have two parts--a business session titled `Role of IITs in nation building and `IIT Nostalgia', an entertainment session. The business session is expected to be addressed by IIT alumnis including Goa chief minister Manohar Parrikar, Tata Sons executive director R Gopalakrishnan, Prof Ashok Jhunjunwala of IIT Chennai, Infosys CEO and president Nandan Nilekani, Prof P Balaram from IISc Bangalore and Jairam Ramesh, deputy chairman Karnataka Planning Board.

Opto Circuits Clocks Rs 14.99 Cr Q3 Net
Opto Circuits India has reported a net profit of Rs 14.99 crore for the third quarter ended December 31, 2002 registering a growth of 53.39 per cent compared to the corresponding period of the previous fiscal. Revenues of the company for Q3, 2002 stood at Rs 87.91 crore.

Canara Bank Cuts Interest Rates
Canara Bank has annouced another cut on housing loan rates effective from February 1,2003. The bank had slashed its interest rates by 50 to 75 basis points. The slashed interest rate structure of loans for upto 5 years for any amount would be 8.5 per cent (floating rate) and 8.75 per cent (fixed rate). For a period of 6 to 10 years for loans upto Rs 10 lakh, the floating rate would be 9.25 per cent and fixed would be 9.75 per cent. For loans above Rs 10 lakh for a tenure of 6 to 20 years, the rates are higher by 25 basis points. The enitre processing fee has also been waived by the bank till March 31, 2003.