Maharashtra to sign MoUs for eight power projects
Mumbai: Maharashtra will sign memoranda of understanding (MoU) with eight developers on Monday for capacity addition of a record 8,500 mw to 9,300 mw. These developers would, however, have to sell power through a bidding process and 50 per cent of it within the state.

The list of developers includes Tata Power Company (1,800 mw), Reliance Energy Ltd (4,000 mw), Jindal (1,000 mw), Essar (1,000 mw), GMR (1,000 mw), Ispat (1,000 mw) and Spectrum Technologies USA (500 mw). These promoters are expected to prepare detailed project reports and complete necessary formalities within a year.

Tata Power Company has indicate that of the 1,800 mw capacity addition, 1,000 mw will be through the proposed coal-based project at Vele in Raigad district, while the expansion of the Trombay unit will occur by adding 500 mw and a 200 mw hydro project.

REL, which is operating a 500 mw thermal project at Dahanu, has lined up investment for the 3,000 mw gas-based project in Patalganga-Nagothane region of Raigad district and about 1,000 mw in the Vidarbha region.

State energy minister Dilip Valse-Patil said these developers would be provided 100 per cent exemption in stamp duty and registration charges and a complete waiver in octroi for machinery and other equipment.

The state would make available government land wherever required for the project at the ready reckoner rate. The land cost would, however, include the cost of rehabilitation and reconstruction. Land acquisition would be done by Maharashtra Industrial Development Corporation.
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Tata Chemicals appoints Madison as media agency
Mumbai: Tata Chemicals has appointed Madison as its new media agency. The decision follows a media pitch, which saw participation from Starcom and Lodestar apart from Madison.

Incumbent TME and GroupM's Maxus did not participate in the exercise.
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KMML registers record production of titanium
Thiruvananthapuram: The State-owned Kerala Minerals and Metals Ltd (KMML), manufacturer of rutile grade titanium dioxide pigment in the country, has said that it has achieved record production of 30,662 tonnes in 2004-05.

It has also said that the sales turnover was approximately Rs290 crore, against Rs266 crore in the previous year. The company is expecting a profit of Rs65 crore during the year, marking an increase of more than 32 per cent over the previous year's Rs49 crore.

KMML's exports crossed the 12,000-tonne mark, against 7,285 tonnes in 2003-04. Total exports to euro countries rose to 4,199 tonnes compared to 2,254 tonnes in the previous year. The average export price also increased by six per cent over the previous year.

KMML recently paid a 20-per cent dividend to the State Government.
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BEML pre-tax profits up 444 per cent
Bangalore: Bharat Earth Movers Ltd (BEML) has notched a 444 per cent growth in pre-tax profit, which has touched Rs272.16 crore during the year ended March 31, 2005. It has also posted its highest ever gross turnover of Rs1,916 crore, registering 8.5 per cent growth over its 2003-04 sales turnover of Rs1,766 crore.

The profit figure was largely driven by exports of Rs60 crore which almost doubled over FY04 exports of Rs32 crore; the PBT for the previous fiscal was Rs50 crore. An aggressive export strategy saw BEML making forays into new markets such as Sri Lanka, Surinam, Ethiopia and the Netherlands.

The company also plans to make capital investments of Rs120 crore for the years 2005-06 and 2006-07 in order to modernise its manufacturing plants. This would be met out of internal accruals. The order book position of Rs2,003 crore is comfortable and more are expected in the coming months. BEML has said that a ten-year corporate plan has been drawn up to reach sales turnover of Rs5,000 crore by its golden jubilee year, 2013-14.

BEML became the first company to indigenously assemble and supply stainless steel coaches for the Delhi metro project in collaboration with South Korean company Rotem. The company is setting up a centre for excellence for manufacturing metro rolling stock in Bangalore keeping in view the last number of metro rail projects coming up in several cities including Bangalore and Mumbai.

BEML acquired two workshops and 1,109 acres of surplus land from the defunct Bharat Gold Mines Limited, KGF. The land is being used as test-track for certification of armoured recovery vehicles assembled at KGF and the proposed Bhim T6 project.

BEML has declared 15 per cent interim dividend for the first time.
During the year, BEML signed MoUs with US company Terex Corporation to market high-end dump trucks of 150T, 240T and 360T capacities. In collaboration with Kerametal of Slovakia, it plans to promote multi-utility armoured vehicles and amphibious transporters.

BEML and Polish company Bumar have tied up to jointly work on the modernisation of T72 tanks with 1000-HP engine. BEML plans to tie up with Brookeville, USA, for light-rail vehicles; with HSW, Poland, for mine-laying vehicles; and with Kopex, Poland for longwall mining and mine-haulage systems.
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