Bhel bags Hindalco contract
Bharat Heavy Electricals Ltd (Bhel) has bagged a contract for an environment-friendly and energy efficient co-generation power plant from Hindalco Industries Ltd. The 41-MW co-generation power plant will be set up by Bhel for meeting the captive power and steam requirement of Hindalco, a company statement said. Reposing confidence in Bhel’s capabilities, Hindalco has placed this repeat order, valued at nearly Rs 80 crore, for enhancing the capacity of its captive co-generation power plant at Renukoot in Sonebhadra district of Uttar Pradesh. The project will be commissioned by Bhel in a tight schedule of 20 months. Bhel had earlier supplied and commissioned generating equipment for the existing 37 MW co-generation power plant (Phase-I) at the same complex. The plant has been in successful commercial operation for the last five years.
Fitch Ratings India has affirmed highest credit quality rating ‘F1+(Ind)’ to the Rs 40-crore commercial paper programme of Ballarpur Industries Limited (Bilt), while assigning adequate credit quality ‘A (Ind)(M)’ rating to the Rs 250-crore fully convertible debenture issue of the company.
SSI net slips
The net profit of SSI Ltd has fallen to Rs 9.75 crore in the fiscal ended on June 30 from Rs 55.81 crore in the previous fiscal. Its total revenues during the fiscal also came down to Rs 121.50 crore from Rs 230.78 crore during the previous fiscal ended on June 30, 2001, SSI CEO Kalpathy Suresh, said. He said the board has declared an annual dividend of 20 per cent subject to the approval of shareholders.
PSL Holding Limited has completed the supply of pipes for Indian Oil Corporation’s Salaya-Mathura augmentation pipeline project.
Sun Microsytems India has announced Sun’s new software business model and new Sun ONE products.
Baskin Robbins has launched ‘Green Goblin’ flavour — a combination of mint and natural vanilla twirled with chocolate.
Bajaj Tempo has achieved an overall growth in sales of 23 per cent across its product range during April-August of the current fiscal over the corresponding period last fiscal.
Union Bank of India has launched the ‘Union Bullion Scheme’. Under the scheme the bank has tied up with international suppliers of bullion. Gold will be sourced from these suppliers and will be sold to the bank’s customers at competitive prices.
SAP Labs plans to open a centre in Bangalore. The new campus will be located at Whitefield, Bangalore and spread over 15 acres of land devoted to research and development activities of SAP.
HDFC Bank has tied up with Bharti Mobitel to provide MobileBanking in Calcutta.