Binani to invest Rs 4,200 cr in Gujarat

Binani Cement on Thursday said it has signed a Memorandum of Understanding (MoU) with the Gujarat government to set up a 610 MW power plant, a captive jetty and 5 million tonnes per annum (mtpa) cement making facility entailing an investment of Rs 4,200 crore.

"The MoU was recently signed between Gujarat Government and Binani Cement during the Vibrant Gujarat Summit. Binani is investing a total of Rs 4,200 crore for these projects," the company said in a statement.

During the 2009 edition of Vibrant Gujarat, Binani Cement had signed a MoU to set up a 2.5 mtpa cement plant and a ditto was signed during the on-going annual event of the state for attracting fresh investment. The proposed Rs 4,200 crore outlay includes the likely investment in the previously signed MoU for setting up the 2.5 mtpa cement plant as well.

The cement plant would be located in Sutrapada district of Junagadh spread across 188 hectares. It would manufacture both Ordinary Portland Cement (OPC) and Pozzolona Portland cement (PPC) in equal ratio.

Binani Cements said the 610 MW thermal power plant construction would come up in three phases starting with 110 MW and then 210 MW each in subsequent two phases. The MoU with the Gujarat Maritime Board to set up the jetty having 10 mtpa capacity would also be built in three phases, it said. Including its subsidiaries in Dubai and China , Binani has 8.75 mtpa cement manufacturing capacity now.

Gayatri Projects bags Rs 1,130 cr road proj in JV with Maytas

Infrastructure firm Gayatri Projects today said it has won a Rs 1,130.67 crore road project, in joint venture with Maytas Infra, from Nagaland government .

"The Gayatri Projects Ltd--Maytas Infra Ltd will have a share in the ratio of 50:50 respectively," the Hyderabad-based company said.

"The project entails the two-laning of existing single lane roads of approximately 329 kms in Nagaland," it added.

Under the project existing stretches in the state -- Longleng - Changtongya (32 km), Mon-Tamlu-Merangkong (105 kms), Phek- Pfutzero (74 kms) and Zunheboto-Chakabama (118 kms) would be upgraded to two-lanes.

"We will be deploying the best technical expertise and engineering for this project and are hopeful of completing it within the stipulated period," said Managing Director, Gayatri Projects, Sandeep Reddy.

The company claimed it has undertaken various highways projects construction in several states and its order book stood at about Rs 8,000 crore.

Larsen and Toubro's subsidiary bags 2,503 crore-worth orders

Construction and engineering major Larsen & Toubro's (L&T) subsidiary Electrical and Gulf Projects Operating Company has bagged orders worth Rs.2,503 crore for transmission, substation and railway construction projects during the third quarter of 2010-11.

"Electrical & Gulf Projects Operating Company (E&GP OC) has secured orders aggregating to Rs.2,503 crore from transmission, substation and railway construction projects in the domestic and international markets during the third quarter of 2010-11," the company said in a regulatory filling.

According to the filling, the company secured orders worth Rs.1,516 crore in the domestic markets, which included projects for laying down of transmission lines, manufacturing of electrical equipment used in energy generation and railway construction activity.

The company's international segment bagged Rs.987 crore in the middle east region for seven substation projects and 153 km of transmission line projects.

The company's shares closed at Rs.1,979.05 at the Bombay Stock Exchange (BSE), 0.35 per cent higher than Thursday.

Tuirial Hydro Electric Project's cost revised to Rs913 cr

The cabinet committee on economic affairs have approved the revised cost estimate of Tuirial Hydro Electric Project (60 MW) in Mizoram-Restarting of project works by NEEPCO Tuirial Hydro Electric Project (60 MW) in Mizoram by North Eastern Electric Power Corporation Limited amounting to Rs913.63 crore including Interest During Construction (IDC) of Rs36.57 crore at March, 2010 price level.

The financial pattern of the total cost of Construction Rs913.63 crore comprises of (i) equity of Rs137.04 crore, (ii) loan from financial institutions amounting to Rs184.63 crore, (iii) subordinate loan from Government of India amounting to Rs291.96 crore and (iv) Grant from DoNER amounting to Rs300 crore. The CCEA also approved conversion of Government of India loan of Rs15.30 crore into equity and waiver of accumulated interest and penal interest of Rs16.13 crore on Government of India loan. The project is scheduled to be commissioned in 36 months from the date of investment approval of Revised Cost Estimate (RCE).

The Government of Mizoram have signed a Power Purchase Agreement (PPA) for the purchase of power from this project at CERC rates. The project will help the State of Mizoram / North Eastern Region in mitigating the power shortage with a clean source of energy. Apart from benefits due to power generation, the storage created due to project would contribute to economic development through promotion of fisheries, navigation, tourism etc. The project will improve the hydro-thermal mix in the North Eastern Region and the country.

Tata Realty targeting an order book of Rs.30,000 crore by 2015 in construction

Tata Realty and Infrastructure Ltd (TRIL) is targeting an order book of Rs.30,000 crore by 2015, building logistics parks, roads, airports, rapid transport systems,TRIL, a wholly owned subsidiary of Tata Sons, is currently executing around Rs.8,000 crore worth of realty projects all over India.

TRIL would soon set up a logistics park at Guwahati and was in talks with a foreign partner who would bring in the technology.The company has budgeted Rs.1,400 crore for building 14 logistics parks with some cities having multiple parks.TRIL is now executing the Pune-Sholapur road project with an outlay of Rs.1,500 crore.It has floated a subsidiary to execute road projects investing $122.5 million and private equity firm Actis putting in $77.5 million.


Tril target is to do $2 billion worth of road projects in four years time frame.Planning to bid for two greenfield airport projects at Nagpur and Pune, the company will be building a private airport at steel city Jamshedpur.In the area of urban transportation, TRIL is in the process finalising the joint venture partner for mono rail business and would start bidding for projects in Bangalore, Delhi, Mumbai and Ahmedabad,.Seeing the rush from corporates to set up units in SEZs before Dec 2011, TRIL has tweaked its strategy to lease out space to multiple companies at its upcoming Ramanujam IT SEZ here, instead of leasing out to a single player."It is a derisking strategy. As and when a company wants to expand we would provide the needed space. The probability of some tenants expanding operations is higher when their number is higher than hoping on couple of big tenants to expand.

the Rs.3500-crore, 4.5 million square feet project will be completed in three phases. The first phase of 700,000 sq ft will be ready by this December and by next March another facility of similar size will be completed.The project consists of IT SEZ, high end residential apartments and serviced apartments, convention centre and retail complex.

deals between two giants for construction

Bharat Heavy Electricals (BHEL), may offer a minority equity stake to a third technology partner in its proposed joint venture with Steel Authority of India Ltd (SAIL) to manufacture high-grade steel.

B P Rao, Chairman and Managing Director, BHEL, said that they are in discussions with SAIL for construction of plant. The company estimates this construction will take more five-six months to finalise. Also, the company is looking for a third technology partner. The Company will offer a minority stake to the third party, while BHEL and SAIL might have equal stake in the venture.

The high-grade steel used to make power equipment is currently imported. BHEL's move is aimed at securing domestic supplies of essential raw material like CRGO steel, alloy steels, castings and forgings, among others.

Its order book is Rs 1,44,000 crore and it has the capacity to manufacture power equipment with a cumulative generation capacity of 15,000 Mw per annum, to be increased to 20,000 Mw by the end of 2010-11. It also plans to increase investment on its research and development to Rs 1,200 crore by 2011-12, from Rs 829 crore in 2009-10.

Lavasa and LIC Housing have no links

"Lavasa construction company has nothing to do with LIC Housing Finance -- we have not taken a single penny from them," HCC chairman and managing director Ajit Gulabchand said today.

He denied any wrongdoing or involvement with Lavasa construction in the housing finance scam, in which LIC Housing Finance's chief R R Nair and a few public sector bank officials have been arrested by the CBI on November 24.

Gulabchand said, however, that HCC was fully co-operating with the CBI in its investigations.

CBI has also arrested Rajesh Sharma, chief executive of Money Matters, a firm that the investigating agency said had either bribed or attempted to bribe the officials to get loans sanctioned for many companies, including Lavasa.

Lavasa is considered to be India's first planned hill city located between Mumbai and Pune. Recently, Lavasa Corporation obtained market regulator Sebi's permission to file draft red herring prospectus for its public issue of around Rs 2,000-crore.

Gulabchand said that using a company like Money Matters was a "well-accepted practice" in the industry. He said Money Matters secured around Rs 200-crore out of HCC's Rs 800-cr long-term debt.