Weekly News18Oct-24Oct

Submitted by: angad kumar

MBA-2A

Essar to invest Rs 2K crore on cement, ferro-alloy unit in MP

•Essar Group has firmed up plans to invest over Rs 2,000 crore to set up a new cement and ferro-alloy unit in Madhya Pradesh.•The group has already committed investments worth around Rs 8,000 crore in the state across sectors like steel, power and telecom .

Continues….•The group will set up a cement plant with an annual production capacity of five million tonnes. •The 1-lakh tonne per annum ferro-alloy plant will be built in two phases of 50,000 tonnes each.

Sterlite to invest over Rs 3k cr more on Punjab power project

•Vedanta Group firm Sterlite Energy has revised the outlay for its proposed power project in Punjab upwards by over Rs 3,000 crore.•The Punjab government had recently given the nod to Sterlite Energy to add one more unit of 660 MW to the upcoming thermal project at Talwandi Sabo.

Continues….•The Talwandi Sabo project has got coal linkages from Coal India's subsidiaries -- Mahanadi Coal Limited and the South Eastern Coal Limited coal fields

Maruti plans to add 1,500 service outlets by 2015

•The country's largest car maker Maruti Suzuki India is planning to ramp up its service centres by a massive 1,500 outlets by 2015.•This enhancement is expected to result in additional employment of about 22,000 people by the service network operators.

Continues…….•The company currently has 2,784 service

points and it is planning to increase it to over 4,200 outlets in the next five years.

Hero Electric to expand in North America, Europe

•Electric two-wheeler maker Hero Electric is stepping up efforts to expand presence in global markets with a focus on North America and Europe. •The company is also looking for technology transfer from international companies for product enhancement.

Continues…….•Hero Electric already exports to some parts of North America and West Europe in small numbers through distributors.•Hero Electric that has a production unit in Punjab is looking to maintain an over 35 per cent market share in future.