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News Flash December 31, 2010
Economy News
Core sector growth slows to 21-month low in Nov to 2.3%: Growth in key
infrastructure sectors dropped to a 21-month low of 2.3 per cent in November, over
the same month last year, raising apprehensions about the momentum of expansion
in the country's total factory output. In October, these sectors had recorded an
impressive growth of 8.6 per cent. The lacklustre growth of the 6 infrastructure
sectors, which have a weightage of 26.68 per cent in the overall industrial output, was
largely on account of dip in petroleum refinery and cement output.
The core sectors--
crude oil, petroleum refinery products, coal, electricity, cement and finished steel --
had expanded by 5.9 per cent in November 2009. During the April-November period
of the current fiscal, crude oil, petroleum refinery products and cement production
have registered a growth of 11.5 per cent, 0.8 per cent and 4.1 per cent.
November infrastructure output up 2.3%: India's infrastructure sector output grew
2.3 per cent in November from a year earlier, slower than an upwardly revised annual
growth of 8.6 per cent in October. In the first eight months of the current financial year
to end-March 2011, output rose 5 per cent compared with 4.5 per cent growth in the
year-ago period. India expects to invest about $500 billion in infrastructure, mainly in
power, telecommunications, roads, railways and oil pipelines in five years to endMarch 2012. The Indian government plans to double spending on infrastructure to $1
trillion in its next five-year plan, which runs from April 2012.
Corporate News
Lanco Infratech emerged as successful bidder for two-laning of Aligarh to Kanpur
section of NH 91 from 140 km to 418.16 km on toll basis of National Highway
Authorities of India (NHAI). The project involves two-laning with paved shoulders of
existing road, repair, widening and reconstruction of 3 major and 29 minor bridges,
construction of 5 new rail over-bridges, 4 toll plazas and other wayside amenities. The
concession period for the project is 12 years including a construction period of 18
months.
Pratibha Industries bagged two projects worth Rs 73.28 crore for construction
residential purpose. First project consists of a residential building 'Mahindra Angelica'
at Goreagaon West in the MUmbai suburbs estimated to complete in 24 months. The
second project is construction of two residential buildings at Thane, Mumbai for the
Soham Group's Luxora Mist. The project is expected to be completed in 20 months.
BHEL accrued an outstanding order worth Rs 38,600 crore as of November-end
2010. In the recent past, there has been a spurt in IPP (Independent Power Plant)
projects. Out of the Rs 38,600 crore orders, the IPP segment contributes to over 25
per cent. The remaining quantity is out of Public Sector Segment and Power Stations
run by various State Electricity boards. This outstanding order book includes eight
units of super-critical sets namely those that exceed 600MW capacity. As of March 31
2010,the installed capacity was enhanced to 10,000 MW and by 2011-12, it will be
stepped up to 14,000 MW production capacity. Phase III expansion at unit-II of Trichy
complex is on along with a new unit at Tirumeiyam.The outlay is over Rs 500 crore
and this is likely to crystallize by end of 2011-12. Initially, the installed capacity of
Tirumeiyam project will be 30,000 tonnes of boiler pipes per annum.
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