The ministry should, however, ensure that at least the farmers, landless labourers, etc. affected by greenfield projects are given access to potential wealth to be generated by projects.
Israel's pharma firm, Teva, is planning to invest Rs. 4000 crores in India.
The Rajiv Gandhi International Airport, which is being developed by GMR on the outskirts of Hyderabad, will be the first greenfield public-private partnership (PPP) airport to be operational in March 16.
The international airport will initially focus on cargo exports as the passenger needs would be extensively served by the upcoming international airport near Panvel in Navi Mumbai, which is just 90 minutes' drive from Pune. The Maharashtra Industrial Development Corporation has issued a notice to begin the land acquisition procedure.
The investments would be made in the company's acquired companies, Algoma in Canada and Minnesota Steel in the US, as well as greenfield plants in Trinidad and Tobago. The groundbreaking ceremony for the first steelmaking facility in Minnesota's Iron Range was held on Sunday.
"It is very unlikely that we get an M&A opportunity in India as Indian entrepreneurs are doing very well and whatever expansion we are planning in India would be through greenfield projects," Lakshmi Mittal told journalists.
The Indian Hotels Company, the Tata Group firm which runs the Taj Group of Hotels in the country, is set to expand its offerings by getting into serviced apartments business and by widening the portfolio of its wildlife resorts.
Bike maker Hero Electric has decided to foray into overseas market starting with exports of e-bikes to SAARC countries this year and also plans to set up a new greenfield assembly unit.
It would be good if all political parties understood the advantages, he said.
Tata Steel's greenfield projects in Jharkhand, Orissa and Chhattisgarh have been delayed by about 12 to 16 months due to issues over land acquisition and resettlement, the company's executives said.
NRI steel tycoon L N Mittal on Wednesday said valuation of steel companies in India had come down significantly but there were no sellers.
BJP leader Subramanian Swamy on Friday moved the Delhi High Court seeking an order restraining the Centre from granting any approval to AirAsia for its operations in India.
International brands like Roca, Kohler and H&R Johnson plan to expand their scale of operations in India. The expansion will be either through brownfield expansion of their joint venture partners or through setting up greenfield ventures.
Of the seven proposed airports, the one at Shirdi will be greenfield whereas in case of other six cities, airstrips exist already but there is no airport infrastructure, Sinha told PTI in an interview.
To overcome hurdles in land acquisition for airport projects, the government is planning to allow private players to build airports on their own land.
The carmaker has sought 1,292 acres at Industrial Model Township, Sohna, 25km from Gurugram.
Under the plan, the Railways would acquire and lease out the land to the private concessionaire.
ArcelorMittal's Orissa R&R package is significant because South Korean steel major Posco, which had signed an MoU with the state government to establish a 12 million tonne plant at Paradip 18 months before the Mittals came up with their Orissa proposal, is yet to finalise its R&R package. Meanwhile, ArcelorMittal has presented its R&R plan to the Keonjhar district administration. It plans to spend the earmarked amount over a period of more than five years.
Although Gorakhpur is the largest urban centre and trading hub in Eastern UP, catering not only to the neighbouring district but also the adjoining Bihar and Nepal, it had been lacking in proper infrastructure of road and air connectivity, impeding the harnessing of its socioeconomic potential.
Decision comes weeks after the company pulls out of a joint venture with Renault and Nissan for a facility there. Commercial production at Chakan is expected to start in two years, about the same time Renault and Nissan will launch production at the Chennai unit. Pawan Goenka, president (automotive sector), M&M, told Business Standard that the company is committed to invest in the south, where a new plant will be set up near Chennai.
The central government has set itself a tight deadline of July this year for completing a series of reforms in the civil aviation sector.
The new company would be named Videocon Aviation Limited and the parent firm would make an investment of Rs 100 crore (Rs 1 billion) in the Special Purpose Vehicle and rest of the funds would be generated from FIIs, public and foreign collaborators. Videocon had made a bid for the Delhi Airport as well, but it was rejected by the government as there was no airport operator in the consortium.
Sunil Pahilajani, managing director and CEO, Caparo India, said that the plant, which will operate as a wholly-owned subsidiary of Caparo India, under its division Caparo Vehicle Products India, will commence production in the final quarter of 2008-09. Caparo signed the technical support agreement with Hyundai Motor on Monday evening. The facility to be set on 20 acres will employ 200 people to start off with.
The long-delayed Bhatinda refinery project of Hindustan Petroleum Corporation Limited crossed another significant milestone on Wednesday, with the award of the project management consultancy contract to Engineers India Ltd.
The government is looking at various ways of reducing the user development fees (UDF), to be charged by the developers of greenfield airports in Bangalore and Hyderabad, even after the ad hoc period when the Ministry of Civil Aviation is expected to decide on the charges. According to the current concession agreement, both the airports will charge user fees on their own for an ad hoc period of 120 days from the start of commercial operations.
The Centre has put the proposed Rs 3,500-crore global airport hub at Noida in Uttar Pradesh into cold storage and the ambitious project would not be able to keep its date with the 2010 Commonwealth Games in New Delhi.
Major global aviation and defence consortium, European Aviation, Defence and Space company will invest in an engineering centre in India to develop aviation software and aircraft designs for its planes and other systems.
American car maker Chrysler is in talks with the Tamil Nadu government to set up a greenfield facility in the state. The company has agreed to send a team to Tamil Nadu to study the feasibility of the project in the state. While the discussion with the Tamil Nadu government is at very early stage, a senior official in the government said that Chrysler was looking at expanding its operations in Asia and India is one market the car maker is keen to enter.
Both partners would inject $200 million each in the form of equity and hold 50 per cent stake each. They plan to raise another $600 million in the form of debt to create a corpus of $1 billion to develop malls across tier-I, II and III cities.
SAPL intends to start a new manufacturing facility in Damietta in Egypt with an installed capacity of 315,000 tonnes a year.
Tata Steel's greenfield projects -- in Orissa, Chhattisgarh and Jharkhand -- were significant for Corus, which incurred high cost on raw materials, said sources close to Tata Steel.
New York-based Berggruen Holdings' Indian hospitality venture Berggruen Hotels on Monday announced plans to set up 38 budget hotels over the next five years at an investment of $100 million.
Mega greenfield steel projects announced in the country are set to add more than 100 million ton of capacity, but land acquisition activity for only 16 million ton has begun.
The country needs a whopping Rs 36,000 crore (Rs 360 billion) investment for developing airports, two-third of which is expected to come from private players, a senior civil aviation ministry official said on Wednesday.
A proposed Rs 9,000 crore (Rs 90 billion) greenfield modernisation and expansion programme is expected to give a fresh lease of life to Iisco Steel Plant, a unit of Steel Authority of India.
GMR evinces interest in the project.
Ranbaxy Group company Fortis Healthcare is targeting a pan-India presence with plans to set up 40 super-speciality hospitals by 2010.
The Ambani brothers, Tata group, GVK Group, GMR Group and Larsen & Toubro are among the top players bidding for the greenfield Navi Mumbai airport, the second airport project in Mumbai.
Months after Mahindra & Mahindra (M&M) exited a joint venture with Renault and Nissan Motor, the French and Japanese auto firms have got their car project back on the road, signing an MoU today with the Tamil Nadu government for a greenfield facility near Chennai.
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