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Sluggish capital markets and financial debt are emerging as challenges for project management

Sluggish markets, debt affecting project mgmt: Scope

Sluggish capital markets and financial debt are emerging as challenges for project management for the country?s public sector enterprises, PSUs? apex body Scope has said. It also said critical areas related to project management include allocation of land, faster clearance of forest and environment projects and pre-tie up for raw material, vendors, suppliers and contractors. ?…tightening of the capital market, financial debt and volatility of equity market, has created one of the biggest challenge to project management in general,? Standing Conference of Public Enterprises (Scope) director general UD Choubey said in a statement recently.

11 sick PSUs gets R116 cr for payment of wages, other dues

The government has provided R116.86 crore to 11 sick public sector undertakings, including HMT Machine Tools towards payment of wages and other dues. The decision to provide funds to the PSUs was taken by the Cabinet committee on economic affairs (CCEA). ?CCEA has approved the proposal for providing non-plan budgetary support of R116.86 crore for liquidation of statutory dues (provident fund, gratuity, pension, employees state insurance and bonus) and salary and wages from 01-04-2013 to 31-08-2013 in respect of 11 central public sector enterprises,? an official statement said. The PSUs which would get the funds are Hindustan Cables, HMT Machine Tools, HMT (Watches), HMT (Chinar Watches), Nagaland Pulp & Paper, Triveni Structurals, Tungbhadra Steel Products, Nepa, HMT Bearings, Hindustan Photo Films and Tyre Corporation of India, it said.

SAIL, RINL, MOIL to set up joint venture for ferro alloy plant

A three-way joint venture between SAIL, RINL and MOIL to produce ferro alloys is on the cards, with the earlier two JVs separately proposed by SAIL-MOIL and MOIL-RINL having virtually been scrapped. MOIL Ltd, formerly known as Manganese Ore India Ltd, had inked two separate JV pacts with Steel Authority of India (SAIL) and Rashtriya Ispat Nigam Ltd (RINL) to set up two ferro alloy plants with a total outlay of R600 crore. Ferro alloys are used in steel-making for de-oxidising purposes.

Iisco revamp to be completed by March this year

The modernisation of the Indian Iron and Steel Company, the country?s oldest steel plant, is to be completed by early this year. According to company sources, the modernised plant with an enhanced production capacity is likely to be inaugurated by Prime Minister Manmohan Singh sometime around March. The modernisation work in the century-old Iisco started on December 24, 2006 with a budget of R9,000 crore. The cost has since escalated to R17,000 crore, sources said. The production capacity in the Iisco would be more than 2.5 million tonnes per annum from the present 0.4 million tonnes.

NTPC has lined up new projects of 19,000 MW capacity

NTPC has lined up new projects of 19,000 MW capacity, nearly half of that would be commissioned by 2017. ?Around 9,000 MW capacity are likely to come up during the 12th Plan period (2012-17) and some in the 13th Plan period (2017-22),? says a company source. Ten coal-based thermal power projects totaling 13,290 MW are under construction.

Nalco bags ?excellent? MoU score for performance in 2012-13

Navratna PSU National Aluminium Company Ltd (Nalco) has been awarded ?Excellent MoU? score of 1.5 by the department of public enterprises for its outstanding performance in 2012-13. Nalco had last achieved the ?Excellent MoU? score in 2006-07. Besides, during 2012-13, Nalco has also been rated as Excellent with a score of 97.5 for compliance with guidelines on corporate governance for CPSEs.

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First published on: 01-01-2014 at 20:08 IST
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