NPCIL to form JVs with SAIL and railways for Power Projects

Nuclear Power Corporation of India plans to set up joint ventures with the Indian Railways and Steel Authority of India Ltd to set up nuclear reactors , continuing its strategy to involve state entities to fund its ambitious plan to add nearly 60,000 mw of new capacity in two decades. The company also hopes to involve private firms in nuclear power plants if the government allows this in the future,

“SAIL and Indian Railways have approached NPCIL for joint ventures. NPCIL is already in the process of setting up joint ventures with three other state firms, NTPC , Indian Oil Corporation and National Aluminium Company .

NPCIL would hold majority stake and offer up to 49% to the partners in ongoing or upcoming projects.

Fortis Healthcare plans to invest around Rs 650 crore...

Fortis Healthcare plans to invest around Rs 650 crore in next 18 months to open 7-8 hospitals and is scouting for acquisition opportunities in India and abroad to bridge the gap with the country’s largest healthcare firm Apollo Hospitals.

The Company indicated that the group’s overseas acquisitions will be championed by their privately held firm, putting a question mark over Fortis’ global expansion. Fortis Healthcare had lost out a corporate takeover battle for control of Singapore’s Parkway early this year.

The company has not yet done with the acquisitions and at any point of time, the company is evaluating about 6-7 proposals,

After the company posted a consolidated net profit of Rs 74.8 crore for the second quarter ended September 30, boosted by a one-time net profit of Rs 53.9 crore from divestment of its stake in Singapore’s Parkway Hospitals. Excluding this one-time gain, the net profit rose 61% over the year-ago period.

Mumbai Airport...

The Maharashtra Coastal Zone Management Authority has approved airport developer CIDCO's amended proposal for the proposed Navi Mumbai airport. "Maharashtra CZMA has approved the new plan.

Following the clearance, the proposal now would be placed before the Expert Appraisal Committee constituted by the Central Government. The Civil Aviation Ministry had given its clearance for the construction of the second airport in Navi Mumbai. Whereas Environment Minister Jairam Ramesh refused to given clearance on the ground of that the proposed airport violates environment norms.

Following this, the City and Industrial Development Corporation of Maharashtra Ltd a nodal agency for the project, was asked to come up with a proposal with suitable changes.

The two ministries, however, recently resolved the issue paving the way for the project. A final call on the issue is expected to be taken only after the Expert Appraisal Committee meeting.