The change in the brand name can show up on the company's locations, stationary and vehicles. The rebranding process, if approved by the company, is expected to commence next summer.
Commerce and industry minister Nirupam Sen and land and land reforms minister Abdur Rezzak Mollah say the figures are yet to be collated. West Bengal Industrial Development Corporation sources said land losers would only be known once the projects are awarded.
This time over BHEL's power project proposal.
He's the hero for forging consensus on GST, popular in the Left Front and among his students, but industrialists are less than enamoured.
After land, coal is turning out to be the latest hurdle to West Bengal's industrialisation drive.
In the past four years, there has been some progress in allocation of iron ore and coal mine--the two key raw materials for steelmaking. The memoranda of understanding for the mineral rich states of Jharkhand, Orissa and Chhattisgarh started pouring in from 2005. Since then, many steel companies, JSW Steel, Tata Steel, Essar Steel, Tata Metaliks, and even ArcelorMittal have bagged either coal or prospecting licence for iron ore.
A year later, land prices are less than half the peak levels of Rs 20 lakh an acre.
Industry at Haldia, a major port and commercial hub, has been caught in the middle of this power transition. Consider this: RPG's power utility, CESC, is unable to erect evacuation towers due to land issues and the third phase of its ongoing expansion of 250 Mw has already been delayed by seven-eight months.
The main reason for the move is the volatility in prices and inconsistent supplies for value-added grades.
Direct land acquisition in Bengal fiat forces companies to appoint land brokers.
The company has been in discussions with vendors who are moving from Singur to Sanand to support them with mutually acceptable terms, which will be implemented.
Prices of key inputs up 44% to 74%; analysts expect earnings squeeze after a quarter or two.
Bengal govt invokes Acquisition Act to buy land for railways near Singur.
Honda Siel Cars India is planning to source steel from India for its local operations and is in talks with Tata Steel. A Tata Steel spokesperson confirmed that the companies were in discussions. Currently, Honda sources steel plates from Thailand for its Greater Noida facility. Honda models, like the City and Civic, have 74 per cent localisation, while the newly launched hatchback, Jazz, has 77 per cent local content.
The UPA government's Land Acquisition (Amendment) Bill could be the last nail in the coffin for industrialisation in West Bengal.
The project was expected to create employment in excess of 10,000 jobs among vendors and service providers in the vicinity of the plant. When Tata Motors announced the small car project in May 2006, it promised to employ 2,000 people directly initially.
Unitech had 40 per cent stake in NKID, which has been acquired by the Salim group and Universal Success. Sources said NKID was now a 50:50 partnership between these two; earlier, Salim had a 40 per cent stake and Universal had 20 per cent. Asked why Unitech quit NKID, the former's managing director, Ajay Chandra, said, "I have no comments on this."
Jatinder Mehra, chief executive officer, Essar Steel said, "I believe, in July, there will be some push in the market. In the Indian market, revival has already begun. Auto, fabrication, capital goods and white goods are doing very well." In the flat products segment, hot rolled coil prices have not seen a hike since September last year. Last month, long product, cold rolled and galvanised prices were raised.
The Left Front' economic policies may continue to haunt the UPA government.
Domestic producers of hot rolled steel, the intermediate that is used by automobile and consumer durables manufacturers, have emphatically ruled out the possibility of dropping prices ahead of the imposition of a safeguard duty on imports.
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