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| JSW to invest Rs 70,000-80,000 cr in
five years: Sajjan NEW DELHI, Apr 24: Domestic conglomerate JSW Group will invest a whopping Rs 70,000 ....more Setco Automotive targets doubling turnover in three years MUMBAI, Apr 24: Automotive clutch manufacturer Setco Automotive, which commenced operations at its Uttarakhand plant .....more Govt to provide Rs 100 cr to pharma industry in 2008-09 NEW DELHI, Apr 24: With a view to promote research and development in the pharmaceutical sector, the Government plans to provide soft loans of Rs 100 crore ........more Laws to be amended to ensure telecom services in rural areas NEW DELHI, Apr 24: Government today said it plans to set up a committee to look into amending the Telegraph Act to ensure that telecom operators take their services to rural areas.....more |
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Steps being taken to reduce air
congestion, flight delays NEW DELHI, Apr 24: Steps are being taken to reduce air congestion and flight delays in Delhi and Mumbai airports, .....more Biofuel production can marginalise women: Study NEW DELHI, Apr 24: Rapid increase in the large-scale production of liquid biofuels in developing countries could exacerbate marginalisation of women in rural areas .....more Govt says no move to transfer Chiria leases to Mittal Steel NEW DELHI, Apr 24: The Government today said there is no move to transfer lease of parts of Chiria mines to ....more 41 pc US luxury consumers to spend less this year: Survey NEW DELHI, Apr 24: Nearly 41 per cent of wealthy Americans may spend less on luxury items in the next one year, amid fears of a weakening economy, says a new study."41 per cent ......more |
JSW to invest Rs 70,000-80,000 cr in five years: Sajjan NEW DELHI, Apr 24: Domestic conglomerate JSW Group will invest a whopping Rs 70,000 to Rs 80,000 crore to expand its operations in steel, power, infrastructure, cement and aluminum sectors. "We have planned to invest about Rs 70,000 to Rs 80,000 crore to expand our operations in steel, cement, infrastructure, power and aluminum sectors in view of the growing domestic needs in these areas," JSW Group Vice-Chairman and Managing Director Sajjan Jindal said. He pointed out that of the total investment his Group would invest about Rs 40,000 crore in steel sector, which includes ramping up production at its Vijaynagar Plant in Karnataka, while Rs 25,000 crore would be utilised to enlarge its operations in power sector both for captive and greenfield power plants. Jindal said another Rs 10,000 crore would be invested for making forays into the aluminum sectors and about Rs 5,000 crore for cement and infrastructure sectors. As part of the Group’s efforts to establish itself as a major aluminum player, it was setting up an alumina refinery at a cost of Rs 10,000 crore at Vishakhapatnam and the first phase of it would be commissioned by 2011, Jindal said. He said JSW’s greenfield steel project in West Bengal would be operationalised by 2011-12 and the company would begin the construction work for it by October-November. "We hope to commence construction work for our West Bengal project by October-November. The entire project which will cost about Rs 30,000 crore will be operationlised in due course of time. Those who partake their land will be made stakeholders in our project, which is the first of its kind proposal in the country," Jindal said. (PTI) Setco Automotive targets doubling turnover in three years MUMBAI, Apr 24: Automotive clutch manufacturer Setco Automotive, which commenced operations at its Uttarakhand plant last week, has set a target of doubling its turnover to Rs 400 crore in the next three years. "We have a target to double our turnover in the next three years. Apart from the new facility in Uttarkhand, we believe our joint venture with FTE Automotive will give us the top and bottom line boost in the coming years," company’s Chairman and Managing Director Harish Sheth said here. Setco had invested Rs nine crore to put up the plant, which is spread over approximately two acres of land. The joint venture company, Setco FTE Automotive, will manufacture clutch actuation systems, which Sheth believes has tremendous potential in the fast evolving Indian auto market. The 51:49 joint venture company would invest Rs 50 crore over a couple of years. Setco has signed the agreement with FTE in January this year and is now working on various customer platforms and is looking to commence production by December this year. "Today our products are exported to our global subsidiaries and overseas customers. Our global performance is based on our direct exports as well as sales through our subsidiaries," Sheth said. Setco has two subsidiaries overseas in the US and UK. (PTI)
Govt to provide Rs 100 cr to pharma industry in 2008-09 NEW DELHI, Apr 24: With a view to promote research and development in the pharmaceutical sector, the Government plans to provide soft loans of Rs 100 crore to the industry in the current fiscal. In a statement laid in Lok Sabha, Minister of Chemicals, Steel and Fertilisers Ram Vilas Paswan said the Department of Science and Technology (DST) under Drugs and Pharmaceutical Research Programme would provide soft loans of Rs 100 crore. He said Department of Scientific and Industrial Research (DSIR) would continue to carry out new drug development in parasitic and microbial diseases, anti-cancer, diabetes and asthma among others. The Department of Chemicals and Petrochemicals would assist National Institute of Pharmaceutical Education and Research to carry out R&D activity for diabetes, tuberculosis, malaria and leishmaniasis among others, as per the statement. Department of Biotechnology would promote research in biotechnological drugs including vaccine development. Paswan said last fiscal, Government invested Rs 227 crore for research and development in the drug and pharma space. The DST and the Council of Scientific and Industrial Research invested Rs 118 crore and 59.91 crore respectively last fiscal. While DSIR invested Rs 2.3 crore last fiscal, the Department of Biotechnology spent Rs 38.18 crore, according to the statement. (PTI) |
Laws to be amended to ensure telecom services in rural areas NEW DELHI, Apr 24: Government today said it plans to set up a committee to look into amending the Telegraph Act to ensure that telecom operators take their services to rural areas. Communication and IT Minister A Raja said that although it is not mandatory for private players to operate in rural areas, Government is offering subsidies from the Universal Service Obligation (USO) fund to encourage service providers to set up networks in rural areas. Replying to questions in Rajya Sabha, Raja said he had proposed to set up the committee to explore ways to increase telephone density in rural areas. "If any rules have to be amended, it will be done," he added. As of now, he said, there is no mandatory provision or TRAI recommendations to force operators to set up networks in rural areas. He, however, said the Government can send a reference to TRAI in this regard. To a separate question, he said the government has collected Rs 20,000 crore under USO fund as on April 1, 2008, out of which Rs 6,500 cr has been spent so far. Raja said the remaining money will be utilised to erect 18,000 towers in the next two years to boost rural telephony. To a question on Access Deficit Charges, he said the losses suffered by BSNL will be compensated through other routes, including the USO way. He said the Telecom Ministry has received complaints of foreign telecom companies’ signals being transmitted into Indian territory on the border areas and has brought it to the notice of Home Ministry. (PTI) |
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Biofuel production can marginalise women: Study NEW DELHI, Apr 24: Rapid increase in the large-scale production of liquid biofuels in developing countries could exacerbate marginalisation of women in rural areas threatening their livelihoods, a new study by the United Nations Food and Agricultural Organisation (FAO) says. The study noted that large-scale plantations for the production of biofuels such as bioethanol and biodiesel need intensive use of resources and inputs including land and water, fertilisers and pesticides to which small farmers, particularly women, traditionally have limited access. Unless policies are adopted to strengthen the participation of small farmers, especially women, in biofuel production by increasing their access to land, capital and technology, gender inequalities are likely to increase and women’s vulnerability to hunger and poverty would further exacerbated, Yianna Lambrou, co-author of the report noted. The study Gender and Equity Issues in Liquid Biofuels Production Minimising the Risks to Maximise the Opportunities added that biofuel production certainly offers opportunities for farmers but they would only trickle down to the farm level, especially to women, unless pro-poor policies are put in place that also empower women. The growing global demand for liquid biofuels, combined with increased land requirements, could put pressure on marginal lands, which provide key subsistence functions to the rural poor and are frequently farmed by women, FAO said. Conversion of these lands to plantations for biofuel production might cause partial or total displacement of women’s agricultural activities towards marginal lands and have negative consequences on their ability to provide food, it said. The report added that potential depletion or degradation of natural resources associated with large-scale plantations for biofuel production may place an additional burden on rural farmers’ work and health, particularly female farmers. "If biofuel production competes, either directly or indirectly, for water and firewood supplies, it could make such resources less readily available for household use," it said. This would force women, who are traditionally responsible, in most developing countries, for collecting water and firewood, to travel longer distances thus reducing the time available to earn income from other sources, it added. The report also warned that the replacement of local crops with mono-culture energy crop plantations could threaten agro-biodiversity as well as the extensive knowledge and the traditional skills of smallholders farmers in the management, selection and storage of local crops, all activities performed mainly by women. The establishment of plantations for biofuel production may create new employment opportunities in rural areas. But these opportunities are targeted mainly to low-skilled workers, who are employed on a seasonal or casual basis, it said. The report stressed the need for further research on the socio-economic effects of liquid biofuel production on men and women. It further suggested that measures should be taken to ensure that women and female-headed households have the same opportunity as men to engage in and benefit from the sustainable production of liquid biofuels. (PTI) ) |
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