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.