The Rs 2,000-crore titanium plant to be established jointly by the Russian Federation and Kolkata-based Saraf Group at Chatrapur in Ganjam district would lay the base for development of the Special Economic Zone (SEZ).
The SEZ spanning over 600 acres would house beach sand mineral-based industries.
It would be spearheaded by the Russian and Indian partners and developed into an industrial hub as the flagship titanium project gets executed, said General Director of Technochim Holdings L N Bobkov here on Tuesday.
Plans are to pump in around 3 billion USD for development of the SEZ and the concept paper would be submitted to the Governments of India and Russia for consideration and approval.
The high-value applications of titanium as raw material would open a floodgate of opportunities for value-addition by downstream industries.
Units in the sectors of casting, titanium metal, magnesium, automotive and machine parts, electronics , computers and other manufacturing sectors, etc., can come up. The SEZ would also be open to other private players, the developers have said.
… the state government signing three fresh MoUs for setting up units, taking the total proposed capacity of output to 75.66 mtpa, involving a total investment of nearly Rs 2,00,000 crore, official sources said.
With this, the number of MoUs for establishment of steel units touched 49, including 11 for mega projects. Besides MoUs with the largest steel maker in the world Arcelor-Mittal and South Korean gaint Posco, the government had signed agreements with domestic firms such as Jindal, Tata Steel and others for mega projects.
All the MoUs were signed during the last six years, they said, adding 26 steel projects had already become partially operational while the mega ones were facing land acquisition problem.
The production capacity so far achieved by these companies was 3.96 mtpa in sponge iron, 0.45 mtpa of pig iron and 3.32 mtpa of steel, besides 308 mw captive power plant.
said the three companies would produce one million tonne of steel per annum.
The companies which signed MoUs are Pradhan Steel and Power Private Limited, Atha Mines Private Limited and Tecton Ispat Private Limited.
While Pradhan Steel proposes to set up a 0.50 mtpa steel plant in over 460 acre land with an investment of Rs 606 crore at Dhurusia in Cuttack district, Atha Mines would set up a 0.25 mtpa capacity unit at an investment of Rs 291.60 crore at Tarkabeda in Dhenkanal district. Tecton Ispat would set up a 0.25 mtpa steel unit over 150 acre of land at an investment of Rs 227.13 crore at Tarkebeda in Dhenkanal district.
The meeting …accepted two out of the eight project proposals.
The meeting decided that the state government would seek necessary environmental clearance from the Indian Bureau of Mines (IBM) before giving the nod to any proposal for new thermal plants in the Angul-Talcher belt.
Briefing newsmen after the meeting, industry secretary Ashok Dalwai said that state government had asked the IBM to make a detailed study on the environmental sustainability of the Angul-Talcher areas.
He said that the meeting, while discussing about the setting up of a number of thermal plants in the state also took note of the searing heat in this industrial belt during summer.
The Committee gave its nod to Jindal Photo Ltd’s proposal to enhance its power production capacity from 1,000 MT to 1,200 MT in its proposed plant at Angul.
The SLSWCC also approved the Well Spun Power and Steel Ltd’s proposal to set up its ore beneficiation and pelletisation plant at Dhamra.
The company aims to produce ductile iron and spiral iron from this plant, for which Rs 1,830 crore would be invested.
The company has asked the state government to arrange 2,000 acres of land.
The state government will scrutinise the land requirement proposal. The company had earlier inked an MoU with the state government to set up a 3-MT plant at Angul.
Ferro Alloys Corporation Limited (FACOR), one of India’s largest producers and exporters of ferro alloys, is going to expand its integrated plant at a cost of Rs 2,700 cr in Orissa.
The company has initiated an ambitious expansion plan of setting up two power plants and a Stainless Steel Plant (SSP) in Orissa for which a consultancy has also been appointed.
The FACOR group is planning to set up the power plant for its own consumption. A 45 MW coal-based captive power plant is to be set up for Bhadrak near Randia of Orissa at a cost of Rs 180 crore.
The power plant work is scheduled to be completed by 2009 for which the FACOR group has inked a financial tie-up with Rural Electrical Corporation, New Delhi.
Another 250 MW coal-based power plant and a five lakh tpa SSP are also being planned to be set up to the tune of Rs 2,500 crore at Orissa. The expansion works will be completed by 2011.
… According to Ashim, for the Rs 2,500 crore 250 MW power plant and SSP, Rs 1,700 crore would be the debt component while Rs 400 crore would come from internal sources and another Rs 400 crore raised from a partner.
“We are looking for a strategic business partner either in the form of investment or through technological support,” he said.
Chennai-based Creative Port Development Private Limited today inked a concession agreement with the state government for sharing revenue from a Rs 2187 crore proposed deep-water, all-weather, mechanised port in Balasore.
The company, in December 2006, had signed an MoU with the government to develop the port on the Subernarekha river mouth at Kirtania in Balasore.
The first phase of the port with a handling capacity of 10MTPA has been planned to be commissioned by 2010 and ultimately its capacity would go up to 50MTPA by the 10th year.
As agreed, the company today signed the deal which enables the state to share revenue at the rate of five per cent from first to fifth year, eight per cent from sixth to 10th year, 10 per cent from 11th to 15th year and 12 per cent for the remaining 15 years.
CPDL would enjoy the concession for a period of 30 years, extendable by an additional period of 20 years.
MindTree Consulting is planning to set up a centre in Bhubaneswar, Orissa, that will house 5,000 staff, a senior company official told NewsWire18 today.
“We have already acquired the land for the Bhubaneswar centre and I expect it to be operational by the end of 2008,” he said.
He said the company will keep adding to its manpower at the rate it has been doing so far, provided there is no slowdown in the business.
Bangalore-based MindTree currently has a staff count of over 5,000, mostly at its Bangalore centre.
The Sarovar Hotels and Resorts announced the signing of a hotel in the 4-5-star category at the Sarovar Premiere here. The hotel with 150 guest rooms and all modern services and facilities will be located at Nayapalli. Commenting on the signing, hotel’s managing director Anil Madhok said, “With the increase in the number of business and leisure travellers in the city, we are pleased to offer accommodation of international quality for them.” The hotel will have five star services, multiple dining options, extensive meeting and banquet areas as well as a health club and spa.
Gurgaon-based Vipul Infrastructure Group is set to board the hospitality train. The company’s hotels division, Vipul Hospitality, has signed a memorandum of understanding with leading operator Sarovar Hotels and Resorts to open five new hotels, to start with.
Vipul Hospitality will invest and own the hotels, while Sarovar will provide technical assistance right from inception to completion besides managing and marketing the hotel operations.
The overall investment in the initial five projects is estimated at over Rs 500 crore.
Ajay K Bakaya, executive director, Sarovar Hotels and Resorts told DNA Money that a number of these hotel projects will also have retailing component.
“Out of the five sites being identified jointly, at least four will be mall-o-tels. Going forward, we will be working together with the realty partners in identifying more locations. All the current and future projects will be operated and managed under Sarovar’s bouquet of brands,” said Bakaya.
The upcoming hotels in Amritsar, Bhubaneswar and Raipur will be branded under Sarovar Premiere, the Mohali property will be a Sarovar Portico and the one in Siliguri will be branded as Park Inn.
Each hotel will have a room inventory of 100-150 rooms in addition to food and beverage, banqueting and conferencing facilities.
One of the pioneers in the Indian mid-market hospitality segment, Sarovar Hotels has grown rapidly since its first hotel opened in 1994.
The hospitality company currently manages 35 hotels across the country under the brands Sarovar Premiere, Sarovar Portico and Hometel, besides Park Plaza and Park Inn, which are operated under master franchise pact with Carlson Hospitality for India.
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