BHEL scraps Singur power project plan

State owned Bharat Heavy Electricals Ltd (BHEL) has pulled its hand from the proposed thermal power plant in Singur stating some technical and financial problems. The firm has apprised West Bengal government about its decision through a letter addressed to the West Bengal Power Development Corporation Managing Director Mr. Debashish Sen.

S.C. Mittal, the General Manager of Navratna Public Sector Company informed, “We have reviewed with our engineers the feasibility of setting up a 2x800MW power plant at the site and it appears that the project is not feasible at the site.”

West Bengal government intended to allocate the land vacated by Tata Motors in Singur to BHEL for the thermal power project. But the State owned firm maintained that it requires 1,500-1,600 acres of land for the project against the 997 acres available at Singur.

The firm also said that the shortage of water supply at the proposed site also makes it difficult to go ahead for the power plant project. It needs 7,210 cubic liters of water every day for which an 18km pipeline needs to be laid, making it a very costly affair for BHEL.


Tagged with

Miscellaneous

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Owner of Energy giant Reliance Industries, Mukesh Ambani has put in an extra 0.68% in EIH Ltd. With this, his total stake in the hotel chain has increased to 14.8%. In a filing to the Bombay Stock Exchange, EIH said that the shares were purchased from the market on Tuesday.

Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

On Thursday, Bajaj Auto posted a 55% increase in its sales of vehicles. In the month of August, the Company recorded sales of 3,29,364 vehicles, compared to 2,13,072 units in the same month the year before.

Last month, 2,89,176 two wheelers were sold by Bajaj Auto, a big surge than 1,82,441 units, which were sold in August 2009. The Company’s cumulative sales of two wheelers for the time frame between April and August 2010 increased by 68% and were recorded at 1,397,348 units. The number was high from 833,235 units that were retailed during the same period last year.