Major industries to come up shortly in M.P.

by rakesh | Sep 12, 2006 | Business

The Oberais propose to launch 12 projects in the country. would invest about Rs. 1150 crore in Banglore, Goa, Mumbai and Rajgarh Palace project in Madhya Pradesh.

The Transworld Textiles has proposed to invest Rs. 70 crore in Madhya Pradesh to set up a cotton yarn-manufacturing unit. The unit would be set up in Kheda industrial area of Pithampur in Dhar district. The state apex empowerment committee on investment has recently cleared the proposal of the firm and offered a concession of 25 percent of premium to be payable. The firm needs 10 acres of land.

The Transworld will also get other investment promotion incentives since it falls under the mega projects category (above Rs. 25 crore). The other incentives include 75 percent of the total amount of VAT/commercial tax and central sales tax deposited by the company for a period of seven years, interest grant, some concessions on entry tax. It will also get exemption on power cess if it generates captive power as defined in the Industrial Policy 2004.

The textile sector is also looking up in Madhya Pradesh. At present, the state has 51 textile-manufacturing units and most of them produce yarn. Of these, 12 are 100 per cent export-oriented units and 20 composite mills with a combined capacity of 140,000 spindles.

Cottons by Century, a subsidiary of Century Textiles and a division of the BK Birla Group, is making a major foray in denims by this fiscal-end. The Indore plant has a 30 million metre capacity for denim. The company has clocked a turnover of Rs. 24 crore for 2005-06 and will be doubling its turnover to Rs. 50 crore by 2006-07.

Tata Motors has launched its mini truck in Madhya Pradesh.

Gujrat State Export Corporation Ltd. is considering setting up new cargo complexes in Surat and Indore. For the Indore venture, the company has already participated in a tender issued by Airport Authority of India.

Genpact has proposed to invest Rs. 152 crore in Bhopal for the development of Information Technology enabled services The Project Clearance and Implementation Board has of the state government has given clearance to the project.

Surya Roshni, that produces energy-saving lamps, lighting equipments, plans to set up a manufacturing unit for compact fluorescent lamps in Madhya Pradesh, which would be operational by November this year. Initial production will be three lakh units, which would subsequently increased to 20 lakh lakh units per month by December 2007.

The Parsvanath Developers Ltd has proposed to set up an information technology-based special special economic zone in Indore. The company will invest Rs. 243 crore in the project. The centre has approved the project. A land area of 25 acre will be allotted to the firm.

With the clearance of a 3.5 million MW-connected power load, Nahar Spinning Mills Ltd has obtained all necessary clearances from Madhya Pradesh government to go ahead with its Rs. 233 crore unit in Simari village in Raisen district. Nahar Spinning will be the third firm in the textile sector that has been given sanction and land to set up a unit in the state. The other companies that have been granted necessary sanction, concessions and sops are the Vardhman Group and the Trident Group. Both the companies will set up textile units in Budni in Sehore district. The Mandideep unit of Nahar Group exports to the United States, Canada, Germany, Russia, Japan, Australia, New Zealand, Holland, Thailand, Hong Kong, Singapore, Taiwan, South Korea, Malaysia, Bangladesh, Mauritius, Dubai, Bahhrain, South Africa and Egypt.

Ruchi Soya Industries has set up a new food processing complex in Haldia at an investment of Rs. crore. The company produces Nutrela brand of Soya beans and extracts oil from mustard and sunflower. The plant will use Japanese technology to produce rice bran oil.

H.E.G. Ltd, a company of Bhilwara Group, is considering increasing its production from 33 thousand 300 tonnes in 2005-06 to one lakh tonne by 2010.The company would invest Rs. 160 crore on extension of Brown Field.
(MP DPR)

Steel Prices to be within reasonable limits

by rakesh | Sep 9, 2006 | Business

The producers will make available items of common consumption in the rural districts/blocks through their dealer network at the same price as applicable at Metros. Cost of transportation as well as distributors/wholesalers’ margin will be bone by the producers. This would result in relief of about Rs.600 -1000 per tone to the individual customer in hinterland. It was further agreed that the concern of the common man will be kept in view by the producers while fixing prices of such items.

All the main producers will adopt villages around their plants and as part of their Corporate Social Responsibility (CSR), help develop these villages as model steel villages. Appropriate schemes in the areas of health, education, livelihood promotion through agriculture and/or small scale industries will be drawn preferably in conjunction with Government’s development schemes operated in the area. In such endeavours use of steel will specially be made in items such as storage beans, bullock carts, buildings such as school buildings, panchayat halls, health centre buildings, water tanks, waiting sheds etc.