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Weekly News: Cabinet Committee on Economic Affairs approves a new coal linkage policy - IndiaNotes.com
Weekly News: Cabinet Committee on Economic Affairs approves a new coal linkage policy
SMC | Published: 22 May, 2017  | Source : IndiaNotes.com

Economy


- A new coal linkage policy to ensure an adequate supply of the fuel to power plants through reverse auction received approval of the Cabinet Committee on Economic Affairs (CCEA) in New Delhi. According to the cabinet, Shakti - Scheme for Harnessing and Allocating of Koyala (coal) Transparently in India - has been envisaged to make optimal allocation of the natural resource across power units.


Chemicals


- Mangalore Refinery and Petrochemicals Ltd plans to shut a 96,000 barrels per day (bpd) crude unit in September-October for 25 days. The is also planning to shut its hydrocracker for 30 days in Sept-Oct for catalyst change .


Power


- Tata Power Solar and Dell International Services India have jointly put up India's largest vertical solar farm of 120 kw.


Mining/Metals


- Bhushan Steel (BSL) has bagged the Kalmong west iron ore mine in Sundergarh district in an auction for the property which saw some aggressive bidding by country's top notch steel companies. The bidding for iron ore property is mainly done on the basis of revenue sharing from mining operation with the state government.


- Tata Steel has overcome the land hurdle for starting work on the second phase of its Kalinganagar project in Odisha, consisting of a steel capacity offive million tonnes.


- JSW Steel has drawn up capital expenditure programme of `26,800 crore for the next three years period to expand capacity. The company is looking at expansion of existing units, alongwith new greenfield steel projects at Odisha and Jharkhand, for which it has already started acquiring lands.


Tyre


- Apollo Tyres has lined up 2,500 crore capex for the current fiscal as it eyes a double- digit volume growth. The company, which recently commissioned its new manufacturing plant in Hungary, expects construction activity to commence at its new plant in Andhra Pradesh in the second half of the current year.


Pharmaceuticals


- Jubilant Life Sciences has received approval from the US health regulator to market amlodipine and olmesartan medoxomil tablets, used to treat hypertension, in the American market. This is the third approval that we have received from the USFDAduring the current financial year.


- Alembic Pharmaceuticals has received approval from the US health regulator for Fenofibric Acid Delayed-Release capsules used for lowering high cholesterol and increasing good cholesterol.


Capital Goods


- BHEL has won 233 crore order for a steam and power generation package from Ramagundam Fertilizers and Chemicals Ltd (RFCL). The scope of the contract includes design, manufacture and commissioning of a 32.5 MW Gas Turbine, 125 TPH Heat Recovery Steam Generator, 85 TPH Utility Boiler and Balance of Plant (BoP) Package along with associated auxiliaries on Lumpsum Turnkey (LSTK) basis.

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