Pipe manufacturer Maharashtra Seamless Ltd (MSL) is planning to set up a 1 million tonne per year billet plant in Maharashtra to feed its planned seamless pipe expansion.
The backward integration project is part of MSL`s aim to increase pipe capacity to 5,00,000 tons per year from the current 3,50,000 tons.
Estimated to cost $ 44.8 million, the project involves relocation of the firm's newly acquired pipe plant in Romania to India and is expected to go online by 2010-2011.
Computer major ICSA India Ltd has won an order for a total contract value of Rs 43.97 Crores from Northern Power Distribution Company (NPDC) of A P Ltd, Warangal on System Improvement Project.
Under the contract, the company will supply and erect of 33/11 KV Substations with connected 33 KV & 11 KV lines for the project funded by Japan Bank for International Cooperation on 100% turnkey basis and erection of 132 KV Substation from Transmission Corporation of Andhra Pradesh, Hyderabad.
Mahalaxmi Rubtech Ltd (MRT), a part of the Mahalaxmi Group of Industries has announced its merger with a group flagship company Mahalaxmi Fabric Mills Pvt. Ltd.
Ahmedabad-based, MRT is engaged in Dyeing, Printing, Finishing and Processin of Cotton, Polyester, Bottom-Weight, Denim and other fabrics. The company currently makes fabric for leading garment-manufacturing names like Arvind Mills and Ashima Textiles. The company is also engaged in exporting Home Textiles to most of the major chain stores, mail order houses and supermarkets across Europe.
Jain Irrigation Systems Ltd (JISL) has announced that the company has signed an MoU with Mekorot, the National water company of Israel for cooperating and working together in India in projects related to water infrastructure in the country.
Initially, the two Companies will establish a framework for joint cooperation and collaboration to explore potential projects in the field of desalination plants, water resource management, water supply systems, municipal water management and / or wastewater treatment and reclamation projects in India.
Web18, the Internet and Mobile Company of the Network18 group, has launched TV-style programming on the Internet through Biztech2TV.
Powered by an easy-to-use interface that's accessible both by content type and industry verticals; Biztech2.com features crisp and business-centred content, offering business technology decision makers Latest News, Features, Case Studies, Interviews, Reviews, White Papers, Biztech2.0 TV and more.
Life Insurance Corporation of India (LIC) has emerged as lone successful bidder for 9.6 acres of land in Mohali. The company has clinched the prime land at Rs 1,00,025 per square yard against the reserve price of Rs 1 lakh per square yard from Greater Mohali Area Development Authority (GMADA).
GMADA, which carried out the auction, had set Rs. 464 crore (about Rs. 48.33 crore per acre), for which LIC has offered to pay Rs 464.12 crore.